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Real Estate

  • Ikea to open 351,000-square-foot store in Las Vegas

    Shoppers looking for Swedish mustard or cheap bathroom rugs won’t have to ask themselves “Why isn’t there an Ikea in Las Vegas?” for very much longer.

    The Swedish home furnishings retailer, along with Nevada Governor Brian Sandoval, Clark County Board of Commissioners Chair Steve Sisolak, Clark County District F Commissioner Susan Brager, U.S. Congressman Joe Heck, local officials and community leaders on-hand, officially broke ground this week for a future Ikea in Las Vegas.

  • Walgreens to close about 200 stores as part of new $500 million cost-savings plan

    Deerfield, Ill. — Walgreens Boots Alliance on Thursday reported quarterly earnings for the first time since the December 2014 merger of Walgreen Co. and Alliance Boots GmbH. The announcement included the news that the drug store retailer will close about 200 U.S. stores as part of its previously announced three-year, $1 billion cost-reduction plan.

  • Pier 1 to close 100 stores over three years

    Fort Worth, Texas – Pier 1 Imports Inc. on Thursday reported a declining profit for its fourth quarter and also announced that it plans to close 100 stores as part of a three-year real estate optimization plan.

    Pier 1 reported net income of $33.1 million in the fourth quarter of fiscal 2015, down 22% from $42.6 million the same quarter a year earlier.  Expenses related to the retirement of the company’s former CFO, as well as increased selling, general and administrative (SG&A) expenses, contributed to the decrease in profit.

  • Japanese eyewear brand JINS opens U.S. flagship

    Japan’s largest eyewear brand is opening its first U.S. flagship store in California with a unique, gallery-like setting designed by San Francisco architecture firm Kwan Henmi.

    Shoppers at JINS will be able to choose trendy, customized eyeglass styles for each face and personality with affordable prices ranging from $60 to $120, including high-quality aspheric lenses.

  • Eatery chain Newk’s plans 200 new stores by 2018, Southern expansion

    Jackson, Miss. – Newk’s Eatery is planning franchise growth in new markets stretching across the South. Expansion will occur in markets including Savannah, Georgia and Orlando, Florida, to Lubbock and Midland-Odessa, Texas, with Washington, D.C, Richmond and Norfolk/Virginia Beach, Virginia, Indianapolis, St. Louis and Oklahoma City in between.

  • Denmark discounter Tiger to open its first U.S. store

    New York -- Tiger, the Danish discount chain known for its low prices and design emphasis, is entering the United States, opening a 5,000-sq.-ft. flagship in May, in New York City.

    Tiger stores offer a quirky, ever-changing selection of exclusive products across a wide variety of categories, including home, toys, hobby, party, snacks, electronics, gadgets, fashion accessories and seasonal. The majority of its products, roughly half of which are designed in house, sell for $10 or less.

  • Uniqlo to open D.C., Denver, Seattle stores

    Japanese retailer Uniqlo's U.S. expansion is picking up speed as the company prepares to open its first-ever stores in the Seattle, Denver and Washington, D.C.

  • Report: Kroger to close, rebrand some Harris-Teeter stores

    Cincinnati – The Kroger Co. is reportedly planning to close and rebrand some stores operating under the Harris-Teeter banner in Tennessee. According to the Nashville Tennesseean, Kroger will close four Harris-Teeter stores it operates in Nashville by June 2015.

    Three of those stores will reopen under the Kroger banner. Kroger previously closed a Harris-Teeter location in Nashville, but has not yet rebranded any Harris-Teeter stores. Kroger purchased the Harris-Teeter grocery chain for $2.4 billion in January 2014.
     

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