St. Augustine, Fla. — The Spice & Tea Exchange is looking to expand its presence in New York. The gourmet spice and tea retail franchise looks to bring at least four new locations to the Empire State through franchising. The brand succeeds in markets with a vibrant population of local foodies and year-round tourists, making New York an attractive region for growth. The Spice & Tea Exchange’s current Port Jefferson, Long Island, location — undergoing plans for reopening — is a prime example of this model within a bustling area …
retailers
Plano, Texas — Cinemark Holdings, Inc., one of the world’s largest and most influential movie theatre companies, has reopened five of its Alameda County, Calif., theatres as of Oct. 27. Century San Francisco Centre 9 and XD as well as multiple Santa Clara County theatres will reopen Oct. 30. These theatres, which join the 13 Cinemark and Century theatres currently open in the Greater Bay Area, will reopen with enhanced cleanliness and safety protocols, Cinemark’s exclusive Private Watch Parties and this year’s newest films. With approximately 85% of its theatres …
San Francisco — Gap Inc., a longtime apparel tenant in enclosed regional malls nationwide, has announced plans to close 350 stores under its Banana Republic and Gap banners in an effort to transition focus to e-commerce and off-mall retail locations. Store closures are scheduled for completion by fiscal year 2023, which ends Feb. 1, 2024, with 75% scheduled to close in 2021. By that time, the company expects 80% of its revenue to come from e-commerce and off-mall locations, including street-front retail stores and shops in strip and outlet centers. …
New York City — Authentic Brands Group (ABG), a global brand development, marketing and entertainment company, and AR Holdings, a leading Latin American-based brand and retail operator, have partnered to grow Forever 21 across the territory. AR Holdings will drive Forever 21 across all channels in the region including its e-commerce, wholesale and 26 retail locations in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Panama and Peru. “Over the last 8 years, Forever 21 has established a strong foothold in Latin America and we are excited to …
Union, N.J. — Bed Bath & Beyond Inc. has appointed Mary-Farrell Tarbox and Ann-Marie Clendenin as regional vice presidents (RVP) for the Central and East regions, respectively, effective October 26, 2020. Both will report directly to Gregg Melnick, executive vice president and chief stores officer. Tarbox will be responsible for over 350 of Bed Bath & Beyond’s retail stores across 22 states, while Clendenin will oversee another approximately 200 stores across 12 states. Tarbox and Clendenin will work with Melnick and his team to execute a cultural shift in the …
Plano, Texas — J.C. Penney has drafted and filed an asset purchase agreement (APA), effectively moving the Plano, Texas-based retailer one step closer to concluding negotiations for its acquisition by Brookfield Asset Management and Simon Property Group, a $1.75 billion deal that was announced in September. J.C. Penney CEO Jill Soltau described this filing as “another important milestone in our restructuring plan” that should help the company shed its Chapter 11 bankruptcy status in time for the holiday shopping season. A hearing to seek court approval for the transaction is …
Sonic Automotive Expands EchoPark Brand Nationwide, Opens First in the State of Tennessee
by Katie Lee
Nashville, Tenn. — Sonic Automotive, Inc., a Fortune 500 Company and one of the nation’s largest automotive retailers, has opened its newest EchoPark specialty pre-owned vehicle store in Nashville, Tenn. As Sonic Automotive continues to rapidly expand its EchoPark network, its first Tennessee location will allow car buyers in the region to shop an assortment of high-quality, 1- to 4-year-old pre-owned vehicles priced 20% to 40% below new car pricing. This new EchoPark location, located just north of downtown Nashville, was formerly a Sonic Automotive franchised dealership that was recently …
Atlanta — With its retail concept a proven success in several major U.S. markets, Painted Tree Marketplace plans to accelerate expansion plans on a national basis in major suburban markets, with a focus on the Southeast, Midwest and Southwest. Painted Tree currently operates eight U.S. locations in Arkansas, Georgia, Tennessee and Texas, with additional locations scheduled to open soon. Painted Tree is aiming for 10 to 12 new store openings per year. Store sizes will range from 30,000 to 50,000 square feet, with a typical footprint of 35,000 square feet. …
Georgetown, Texas — Sport Clips Haircuts has reopened 98% of its more than 1,800 locations in the U.S. and Canada. At the onset of the pandemic, Sport Clips sent out a letter to landlords saying it would waive franchise agreement fees for franchisees in an attempt to make paying rent more feasible. By paying more than $300,000 in rent for 69 company-owned locations in Texas, Arkansas, Nevada and Oklahoma, Sport Clips was able to prioritize tools and resources for franchisees. “Few times does a company get the opportunity to truly illustrate that values are not …
Goodlettsville, Tenn. — Dollar General has unveiled its newest retail store concept: popshelf. This new store aims to engage customers with a fun, affordable and stress-free shopping experience where they can find on-trend seasonal and home décor, health and beauty must-haves, home cleaning supplies, party goods, entertaining needs and much more — with approximately 95% of items priced at $5 or less. The first two popshelf locations will open near Nashville, Tenn., this fall. “We are excited to introduce popshelf from a position of strength, further highlighting our innovative spirit …