Real Estate

Gap to close 175 namesake stores in North America, lay off 250 HQ employees
San Francisco — Gap Inc. on Monday lowered the boom on its biggest and most troubled division, announcing it would close 175 of its 675 namesake stores in North America over the next few years, with 140 of the closures occurring in the current fiscal year. In line with the closings, the brand’s headquarters workforce will be reduced by about 250 roles this year.

The closings will not impact Gap Outlet and Gap Factory Stores. Gap will also close a limited number of European locations, but it did not give a specific store count.
Gap to close 175 stores, lay off 250 employees
Gap Inc. is planning to close 175 of its Gap stores and streamline its workforce by as many as 250 positions as the struggling retailer moves to re-ignite productivity and growth at its namesake brand.

The company says the series of strategic actions are part of a comprehensive effort to deliver more consistent and compelling product collections and engage customers across all channels.

Extreme-value retailer Ollie's files for IPO; sees potential for 950 stores

HARRISBURG, Pa. — Extreme-value retailer Ollie’s Bargain Outlet Holdings on Monday filed for an initial public offering. With a tagline of "good stuff cheap,” Ollie’s operates 181 stores in the Eastern United States, expects to open 25 to 30 stores in fiscal 2015 and sees the potential for more than 950 locations across the country. (For more on Ollie’s, click here.)
German grocer seeks a Lidl slice of Aldi's market

U.S. consumers have more options for grocery shopping than ever before. But German discount grocer Lidl, aiming to emulate the U.S. success of the growing Aldi chain, says it will “create a unique experience for American consumers that will be unlike anything else in the market.”
CST Brands acquires OneStop, moves stores to partnership

San Antonio, Texas — CST Brands Inc., through its CrossAmerica Partners LP wholly-owned subsidiary, has acquired the Charleston, West Virginia-based One Stop convenience store network. CST is also moving 29 recently constructed stores into its wholly-owned CrossAmerica partnership via two “dropdown” transactions.
German grocer Lidl prepares for U.S. expansion, to open headquarters in Virginia

Neckarlsum, Germany — Another German supermarket retailer has its sights set on the United States: Discount grocer Lidl on Friday announced it is establishing a U.S. corporate headquarters, in Arlington County, Va. The move comes as rival Aldi contines to aggressively expand throughout the United States.
Apple opens 6th Manhattan store; turns old bank into retail space

New York — Apple has opened its sixth store in Manhattan, on the Upper East Side in a Beaux Arts building that was originally the home of the U.S. Mortgage & Trust bank in the 1920s. The site, on Madison Avenue, most recently housed a luxury retailer.
Shoe Carnival plans new, smaller concept store

Shoe Carnival is planning to open smaller stores to leverage untapped markets in smaller communities, as well as the company's omnichannel capabilities.
Restoration Hardware launching new store concept, RH Modern

CORTE MADERA, California — Restoration Hardware is going modern. The luxury home furnishings retailer is introducing a new store concept called RH Modern this fall. The company officially unveiled its new format in a video on its website.

RH introduced the concept on the same day that it posted first-quarter earnings and sales that topped analysts estimates and also boosted its annual guidance.
Report: Publix to open smaller format in Fla.

Publix is exploring the possibility of opening smaller format stores in the North Florida area, according to the Gainesville Sun.

The Sun is reporting that the Southern grocery chain has been talking to Gainesville, Fla., city officials about a site near the University of Florida.

Read more by clicking here.

Gap to close 175 namesake stores in North America, lay off 250 HQ employees

Gap to close 175 stores, lay off 250 employees

Extreme-value retailer Ollie's files for IPO; sees potential for 950 stores

German grocer seeks a Lidl slice of Aldi's market

CST Brands acquires OneStop, moves stores to partnership

German grocer Lidl prepares for U.S. expansion, to open headquarters in Virginia

Apple opens 6th Manhattan store; turns old bank into retail space

Shoe Carnival plans new, smaller concept store

Restoration Hardware launching new store concept, RH Modern

Report: Publix to open smaller format in Fla.