Seattle — Nordstrom Inc. has announced plans to open five new Nordstrom Rack stores in California. Scheduled to open in 2024 and 2025, the stores will be located in Davis, Elk Grove, Gilroy, Oceanside and San Mateo. Both the Davis and Gilroy stores will comprise 25,000 square feet, with the Oceanside and San Mateo stores totaling 31,000 and 36,000 square feet, respectively. Each of the stores will be situated within shopping centers, with the new locations bringing the total count of Nordstrom Rack stores to 68.
Union, N.J. — Bed Bath & Beyond Inc. (NASDAQ: BBBY) has filed for Chapter 11 protection in the U.S Bankruptcy Court for the District of New Jersey and will close all remaining stores nationwide. At the time of the filing, the company operated 360 stores across the country under its Bed Bath & Beyond brand and 120 stores under its children-centric buybuy Baby brand. All of those locations, as well as their accompanying e-commerce platforms, will remain open temporarily as the company gradually winds down operations and conducts limited marketing …
Leiden, Netherlands — Ingka Group has announced plans to invest $2.2 billion over the course of the next three years on new IKEA retail locations and omnichannel growth across the United States. The Leiden, Netherlands-based company is the largest owner of IKEA stores globally, representing more than 90 percent of IKEA retail sales with more than 370 stores and 100 home décor planning studios open across 31 countries. The initial phase of investment will include opening eight stores in IKEA’s traditional format and nine “Plan and Order” points, which are …
Conshohocken, Pa. — David’s Bridal LLC and some of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. Both the brand’s nearly 300 physical stores, as well as its online platforms, will remain open and operational, according to the company. The Conshohocken-based retailer is seeking customary “first-day” relief authorizations from the United States Bankruptcy Court for the District of New Jersey to continue payment of employee wages and benefits, maintain certain customer programs and honor vendor obligations. The company had previously filed for …
Chicago — Walmart has announced that it will close four stores in Chicago. The company cited a lack of profitability as the reason for the closures, reporting that the locations collectively lose tens of millions of dollars a year. Walmart recently invested $70 million to upgrade the stores and built two new Walmart Health facilities and a Walmart Academy training center. “It was hoped that these investments would help improve our stores’ performance,” said the company. “Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are …
Woodcliff Lake, N.J. — Greg Maloney and Bill Rose have joined New Jersey-based Woodcliff Realty Advisors. Maloney previously served as president and chief executive office of JLL Americas Retail and is currently a retail advisor with GTM Associates LLC. Rose is senior managing director of Marcus & Millichap’s Institutional Property Advisors (IPA). Both will maintain their individual practices, with Maloney assisting Woodcliff clients with foreclosures and receiverships, acquisitions and dispositions, and development strategies for converting retail properties to mixed-use. Rose will assist Woodcliff clients in maximizing value by selling or …
Dallas — Dallas-based brand EoS Fitness has acquired gym chain Texans Fit, taking over and rebranding five locations in metro Houston. This acquisition marks 75 open gyms for EoS, which opened its first Texas location in Euless in January. Services as the former Texans Fit gyms will continue uninterrupted, and all employees have been offered the option to continue their employment. Another location is scheduled to open in Spring, Texas, later this month.
Ellicott City, Md. — Giant Food has partnered with Nalley Fresh to open a restaurant within the grocer’s Ellicott City store, roughly 13 miles outside Baltimore. Nalley Fresh offers customizable salads, wraps and bowls. The restaurant marks the tenth location for the restaurant and the first in-store fast-casual partnership for Giant Food, which currently operates 165 stores.
Rancho Cucamonga, Calif. — Heather Sharp has joined Progressive Real Estate Partners as senior vice president of retail sales and leasing. Sharp, who brings more than 25 years of experience in real estate, will lead the firm’s expansion into the Coachella Valley while continuing brokerage activities, including the sale and leasing of retail properties. Previously, Sharp was a partner at Wilson Meade Commercial Real Estate in Rancho Mirage. “We have been eager to bring our team-oriented, resource-rich brokerage culture to the Coachella Valley for a few years but were waiting …
New York City — Foot Locker will close more than 400 underperforming stores as part of its “Lace Up” plan, announced during the company’s 2023 Investor Day call. According to Tony Aversa, senior vice president of global store development, the move is part of a strategy to manage portfolio risk by way of strategic closures. The company currently operates 2,700 locations, which will be reduced to approximately 2,400 by 2026, a number which also reflects the planned addition of stores in new formats. Despite the closures, Foot Locker intends to …