Retail Profile Update
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Hot Mama to Open in South Barrington
(barrington-il.patch.com - 2/3/2012)Hot Mama’s sales have more than doubled the past two years. With surging sales Hot Mama continues to be in expansionary mode. In 2012 the company plans to open eight stores, all from operational cash flow. The company recently signed leases to open stores in Kansas City, St. Louis, Indianapolis, and Oakland County, MI. (full story)
Chipotle Plans Biggest Growth Yet in 2012
(QSR - 2/2/2012)Montgomery Moran, co-CEO of Chipotle, said the company expects to open 155–165 new Chipotle locations in 2012. "While this is more restaurants than we've ever opened in a single year, we are confident," Moran said, citing the "quality of what's in the real estate pipeline." (full story)
Restaurant Sales Growth Varies by Region
(Nation's Restaurant News - 2/2/2012)While the National Restaurant Association projects in its 2012 Restaurant Industry Forecast that the U.S. foodservice industry will generate an overall sales increase of 3.5 percent, or $631.8 billion, this year, the trade group noted that growth can vary widely from region to region. (full story)
Landry's Shutters Eight Morton's Restaurants
(Nation's Restaurant News - 2/2/2012)Landry’s Inc. on Wednesday shuttered at least eight units of Morton’s steakhouse in various markets as it completed its acquisition of the high-end steakhouse company. Morton’s units were reported closed in Atlanta, Boston, Brooklyn, N.Y., Denver, Jacksonville, Fla., Miami Beach, Fla., Phoenix and Tyson’s Corner, Va. (full story)
Retail Boom Slows but New Stores Still Coming
(Alaska Journal of Commerce - 2/2/2012)Alaska has experienced a huge retail market boom in recent years as several national brands set up shop here for the first time. That growth will continue, albeit more slowly. The next few years will have their fair share of retail expansion as well, including new entrants. Alaska can now look forward to Verizon, AutoZone, Buffalo Wild Wings and Sport Clips this year and next. (full story)
Retail Limits in Plan for the Upper West Side
(The New York Times - 2/2/2012)Across New York City, the proliferation of chain stores, banks and pharmacies in the past decade or so has robbed many neighborhoods of the quirky one-of-a-kind shops that give those places their distinct personalities and where customers can form a relationship with their shopkeepers. Now the city is proposing to erect a fire wall in one neighborhood — the Upper West Side — that may discourage chain stores and preserve the neighborhood’s commercial character and its vibrant street life. (full story)
Retailers Deliver Solid Sales Gains for January
(The Wall Street Journal - 2/2/2012)Retailers reported mixed sales results for the month in a sign that U.S. consumers continue to be cautious about when and where they spend their money in the shaky economy. Overall, merchants on Thursday reported a 4.8 percent increase for January, according to the International Council of Shopping Center's tally of 20 retailers. That's above the 3 percent gain that ICSC had expected. (full story)
Flip Flop Shops Packs 2012 Pipeline with 40 New Shops
(Franchising.com - 2/2/2012)Flip Flop Shops announces it will expand its footprint to 90-plus shops by the end of 2012, with an additional 40-plus already in the pipeline for 2013 openings. (full story)
Department Store Sector Split Between Winners and Losers
(RetailTraffic - 2/2/2012)The department store sector is remaking itself for the new era of retailing, continuing the resurgence it experienced over the past two years with the return of the mall. But while department stores as a concept no longer seem headed for oblivion, there appears to be a sharp divide between those chains ready to embrace change and those unwilling or unable to reinvent themselves. (full story)
Saladworks Begins Developing in Arizona
(QSR - 2/2/2012)Saladworks, the nation’s first and largest fresh salad franchise concept, is proud to announce its first multi-unit development agreement in Arizona. With the first store scheduled to open in late 2012, Maricopa County is the focus for initial site selection. By the end of 2016, five Saladworks locations will call Arizona home. (full story)
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