Ace Hardware to Open 200 Locations The hardware retailer announced recently that they have opened their 5,000^th store, part of the 111 new locations opened in the first half of 2024. This record-breaking pace of new openings also has Ace eyeing plans to open more than 200 new stores by the end of this year. Globally, Ace has opened over 900 locations in the past five years. (Chain Store Age 7/16) [Read]

Eggs Up Grill Hits 80 locations, More Planned in 2024 The fast-casual chain, Eggs Up Grill, has announced the signing of four new franchise groups so far this year, adding 15 location commitments to their pipeline. They have opened nine locations year-to-date, recently opening their 80^thlocation. The chain is on track for 14 additional openings in 2024, with over 100 more locations planned to open by 2030. (Chain Store Age 7/15) [Read]

Cilantro Taco Grill Plans Large Expansion The fast-casual Mexican chain signed its first franchise agreement in January this year, as the company intends to expand significantly in Florida as well as some locations in California, Illinois, and Texas. Cilantro Taco Grill has secured roughly 110 locations in development in less than six months, with 100 of the new stores to come in Florida. The chain was founded in 2013, but this will be their first major expansion outside of the Chicagoland market. (Chain Store Age 7/17) [Read]

Saks Fifth to Acquire Neiman Marcus The New York City-based parent company of Saks Fifth Avenue, HBC, has agreed to acquire Neiman Marcus Group in a merger valued at $2.6 billion. The acquisition will combine the intellectual property and real estate assets of both companies and result in the formation of Saks Global. Existing brands such as Saks OFF 5th, Bergdorf Goodman, and Last Call Outlet will continue operations under their original names. HBC operates 39 Saks stores, while Neiman Marcus operates 36 stores after filing for Chapter 11 bankruptcy in 2020. (Shopping Center Business 6/8) [Read]

Walgreens Plans Significant Store Closings Walgreens is planning a meaningful “multiyear footprint optimization program” that will result in the closure of some underperforming U.S. stores. The company said these plans will take place over the next three years, with the possibility of additional closures if performance doesn’t improve. Walgreens still saw a 2.6% year-over-year increase in sales despite the negative outlook surrounding closing locations. (Chain Store Age 6/27) [Read]

Big Lots to Close Stores, Warns of Bankruptcy The discounter originally revealed plans to close between 35 to 40 stores by the end of this year, but that number has since increased to roughly 140 locations. Big Lots blames elevated inflation as a primary reason for customers pulling back on their spending as the company has seen net losses for more than two years in a row. Sales dropped 10.2% in Q1 as the company continues to try to figure out a way to avoid filing for bankruptcy protection. (CoStar News 7/23) [Read]

Conn’s Files Bankruptcy, Close Stores The Texas-based furniture and appliances retailer has been struggling as competition between retailers grows and consumer spending slows, leading to the company filing for bankruptcy protection. Conn’s will close all 553 stores under their Conn’s HomePlus and Badcock Home Furniture banners across 15 states and has already started liquidation sales at roughly 70 locations. The company saw net sales drop 9.1% in 2023. (Chain Store Age 7/24) [Read]

Benderson Acquires Carillon Place The 250,000-square-foot center in Naples was 92% leased at the time of sale, anchored by Walmart, T.J. Maxx, and DSW. Sales information was not disclosed. Benderson has acquired three other centers in Florida recently, including North River Marketplace and Linton Commons.

(Shopping Center Business 6/26) [Read]

Florida Remains a Relocation Hotspot in 2024 In a report ranking the cities with the most move-ins so far in 2024, Ocala ranked 3^rd, Jacksonville ranked 9^th, and Orlando ranked 18^th. However, Florida has seen fewer move-ins this year. The state had six cities in the top 20 in 2023 (of which, five were in the top 10) compared to only three in the top 20 this year. This trend is seen outside of Florida as well, as citizens begin to look outside of the typical major metro areas for more affordable cities.

(Pods 5/20) [Read]