New York City — American technology conglomerate Meta Platforms Inc. will open its first New York flagship location at 697 Fifth Avenue in Manhattan. Meta signed a 10-year lease with Vornado Realty Trust to occupy the entire five-level, 15,000-square-foot townhouse building adjacent to the base of the St. Regis Hotel. The company opened its first flagship store, Meta Lab, in Los Angeles last year. Meta Lab is intended to serve as a hands-on, experiential “playground” where customers can discover, test and purchase Meta’s wearable hardware.
Retailers
Conshohocken, Pa. — IKEA plans to open four additional U.S. stores in 2026, building on the six locations the company previously announced. The newest stores will be located in metro Chicago; Tulsa, Oklahoma; Fort Collins, Colorado; and suburban Los Angeles. In 2025, IKEA opened 14 new retail locations, including two new small-format stores in Arcadia, California; and San Marcos, Texas. Nine “Plan & Order Points” with integrated pickup services were also launched in markets such as Charlotte, North Carolina; Roseville, Minnesota; and Ontario and Colma, California. The 2026 new store openings …
New York City — Saks Global Enterprises is advancing its planned optimization across its real estate portfolio by announcing the closure of an additional 12 Saks Fifth Avenue stores and three Neiman Marcus locations. This builds on initial closures announced last month. While select markets will be streamlined to include either a Saks Fifth Avenue or Neiman Marcus store based on considerations for each location — including performance and customer preference — the company will continue to operate both brands in luxury destinations that represent a growth opportunity. With the announced closures, Saks Global …
Minneapolis — Minneapolis-based Target has unveiled a $2 billion, multi-year strategy to open new stores, refresh its store experience across the chain and invest in store payroll and training. Specifically, Target is planning to make a $1 billion operating investment to deliver a “more consistent, elevated experience for guests,” including updated floorplans, enhanced in-store displays and the expansion of brand marketing. Target also plans to increase its capital investment by more than $1 billion to support new stores and ongoing remodels, technology and its supply chain. While investing in more than …
New York City — Since declaring Chapter 11 bankruptcy last month, Saks Global Enterprises will close eight Saks Fifth Avenue stores, as well as one Neiman Marcus store. No changes are planned for the Bergdorf Goodman operational footprint. Saks Global is changing the Saks Fifth Avenue and Neiman Marcus store locations to focus on profitable stores with the highest growth potential. “Go-forward locations” are being determined as part of the company’s ongoing operational plan, which is based on performance and lease economics, among other things. The eight Saks Fifth Avenue locations …
Houston — Houston-based women’s clothing and accessories retailer Francesca’s, has voluntarily filed for Chapter 11 bankruptcy protection in the District of New Jersey. This filing marks the second time in six years that the retailer has sought bankruptcy protection, with plans to liquidate its inventory and close all of its approximately 400 remaining stores. Tiger Group, SB360 Capital Partners and GA Group, who are acting as advisors to Francesca’s, have commenced court-approved store closing sales across the company’s entire store fleet as part of the Chapter 11 process. Discounts will range from 25 …
Bellevue, Wash. — The operator of Eddie Bauer stores has entered into a voluntary Restructuring Support Agreement (RSA) and has commenced chapter 11 proceedings in the U.S. Bankruptcy Court of the District of New Jersey. The bankruptcy filing for the company involves the entity managing physical stores — Catalyst Brands — not the brand itself, which is owned by Authentic Brands Group and SPARC Group. Eddie Bauer retail and outlet stores in the United States and Canada will remain open and continue serving customers as the company begins its process of closing …
Seattle — At its recent 2026 Investor Day, Starbucks Coffee Co. highlighted progress in its “Back to Starbucks” transformation plan. By fiscal 2028, the company expects to open 2,000 net new stores across its portfolio, including approximately 400 net new U.S. company-operated stores. Brady Brewer, chief executive officer for Starbucks International, shared the company’s plan to accelerate global growth in a program referred to as coffeehouse “uplifts.” With this plan, Starbucks expects to add more than 25,000 café seats across the U.S. by the end of fiscal 2026. Starbucks also announced …
Amazon to Close Physical ‘Go’ and ‘Fresh’ Grocery Stores, Expands Whole Foods Market Brand
Seattle — Amazon is announcing plans to close its Amazon Go and Amazon Fresh brick-and-mortar stores. A total of 57 Amazon Fresh and 15 Amazon Go stores will shut down in February, according to several media sources. Amazon first launched the cashier-less Amazon Go stores in 2018 and expanded in 2020 with the first Amazon Fresh grocery stores. According to the company, Amazon will instead focus on an effort to prioritize expansion for Whole Foods Market, which it acquired in 2017. Amazon is expected to open more than 100 new Whole …
Las Vegas — Phenix Salon Suites concluded 2025 with 26 new locations, as well as one international venue in York, United Kingdom. Meanwhile, the brand has also recently signed more than 30 new franchise agreements across new and existing markets for 2026, including Texas, Florida, California, New York and New Jersey. Phenix Salon Suites began franchising in 2012 and currently has more than 425 locations across 33 states, with continued plans to expand internationally.