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Who's Opening & Where
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Who's Opening & Where HSBC Finance Corp. (847-564-5000) is planning to open about six locations by the end of the year throughout CT. HSBC Finance is the consumer lending arm of British banking behemoth HSBC Holdings. The company caters to middle-class clients in the U.S., the United Kingdom, Canada, Ireland, the Czech Republic and Hungary, offering home mortgages, automobile loans, and personal loans. It issues Visa and MasterCard credit cards, as well as private-label cards for third parties such as General Motors. The company sells specialty insurance in the US, the UK, and Canada; and provides loans secured by anticipated tax refunds in the U.S. only.
Rite Aid Corp. (717-761-2633) is planning to open 125 additional new and relocated stores this fiscal year. During the first quarter, the company opened three stores, relocated four stores, acquired two stores, closed seven locations and remodeled 13 units. The drugstore chain currently operates approximately 3,300 drugstores throughout 27 states and Washington, D.C. Rite Aid stores fill prescriptions (accounting for about 63% of sales) and sell health and beauty aids, convenience foods, and other items, including more than 2,700 private-label products. More than half of Rite Aid stores are freestanding.
Best Buy Co., Inc. (612-291-1000) is planning a growth strategy throughout China, as part of its acquisition of Jiangsu Five Star, a Chinese retailer of appliances and consumer electronics. Best Buy is working to determine the optimal number of stores to open during the fiscal year. The company operates a chain of approximately 785 stores throughout the U.S. and Canada offering a wide variety of electronic gadgets, movies, music, computers, and appliances. In addition to selling products, the stores offer installation and maintenance services, technical support, and subscriptions for cellphone and Internet services. Covering an average of about 42,000 sq.ft., the big box stores are located in 49 states and five Canadian provinces. In addition to the Best Buy brand, the company operates under the names Magnolia Audio Video, with 20 stores in the U.S. and Future Shop with about 120 locations in Canada.
Kash n’ Karry Food Stores, Inc. (813-620-1139) is planning to convert all of its Kash N Karry stores to Sweetbay Supermarket locations by 2007. The company currently operates more than 100 supermarkets throughout FL under the Kash n’ Karry and Sweetbay Supermarket banners. Kash n’ Karry has closed stores and is attempting to reinvent itself to revive its business. To that end, it is changing its name to Sweetbay Supermarkets, revamping its pricing strategy, and remodeling aging stores. The new Sweetbay supermarkets feature expanded produce sections as well as more organic foods and nutriceuticals. Kash n’ Karry is a subsidiary of Delhaize America, which is owned by Brussels-based Delhaize Group.
California Pizza Kitchen, Inc. (310-342-5000) is planning to open a 6,000 sq.ft. LA Food Show location on North Beverly Drive in Beverly Hills, CA. Opening is slated for 2007. The location will have an exhibition-style kitchen featuring burgers, steaks, etc. California Pizza Kitchen offers pizzas with a variety of unique topping combinations, including duck, barbecued chicken and grilled shrimp. It also serves Neapolitan pizzas from Italy as well as American-style pies. CPK rounds out its menu with pastas, soups, salads, and desserts. It operates, licenses, or franchises approximately 194 restaurants, mainly in malls or shopping center locations, in almost 30 states and Washington, DC. It has 10 restaurants in five Asian countries. CPK owns about 160 restaurants and franchises or licenses the other 30 units.
Benihana, Inc. (305-593-0770) is planning to open three restaurants during the first quarter of 2007, as well as opening two additional renovated restaurants in Anaheim, CA and Indianapolis, IN. Benihana owns and operates more than 55 Benihana and Benihana Grill locations in about 20 states and has nearly 20 franchised restaurants in a dozen other countries. In addition, the company operates more than 15 other restaurants doing business as Haru and RA Sushi.
The Kroger Co. (513-762-4000) is planning to open Marketplace locations in Lebanon and Liberty Township, OH this summer. The company also is looking to open as many as eight more Marketplace stores in the vicinity through 2008. The company operates nearly 3,700 stores, including more than 2,500 supermarkets and multi-department stores, under two dozen banners, throughout 31 states. It also runs nearly 800 convenience stores under names such as Quik Stop and Kwik Shop. Kroger’s Fred Meyer Stores subsidiary operates more than 125 supercenters, which offer groceries, general merchandise, and jewelry, in the western U.S.
Grocery Outlet, Inc. (510-845-1999) is planning to open five stores throughout OR, including locations in Albany, Cottage Grove, two Portland locations and one in Prineville. Grocery Outlet operates approximately 125 deep-discount supermarkets in more than a half dozen western states under the Grocery Outlet and Lucky banners. The stores average about 20,000 sq.ft. and sell a wide range of brandname products, including groceries, wine and beer, household items, health and beauty care products, and over-the-counter drugs. More than 50 of Grocery Outlet’s stores are located in CA.
Panda Restaurant Group, Inc. (626-799-9898) is planning to open 20 more restaurants by the end of the year. The chain will continue its aggressive growth in 2007 with plans to open 40 additional TX locations, with a focus on Austin, Dallas, Houston and San Antonio. The company operates Panda Express, the largest chain of Chinese restaurants in the U.S., with more than 680 locations throughout approximately 35 states. The chain offers quick-service Chinese food primarily in high-traffic locations, including malls, airports, and sporting arenas. It also runs more than a dozen mall-based Hibachi-San outlets that offer a quick-service Japanese grill menu. For patrons looking for full-service, Panda Restaurants operates a handful of Panda Inn branded units in CA.
Sport Chalet, Inc. (818-949-5300) is planning to open more locations this year and in 2007. The sporting goods retailer operates approximately 40 stores, mostly in CA, but also in AZ and NV. The stores are known for carrying specialty products, such as mountain-climbing and scuba gear. Sport Chalet has traditionally specialized in gear for cold-weather sports, such as skiing, but its stores sell namebrand shoes, clothes, and equipment for many other activities. Shoppers at Sport Chalet can sign up for scuba training and join dive clubs.
Max & Erma’s Restaurants, Inc. (614-431-5800) is planning to open one company-owned restaurant and three franchised restaurants during the second half of the year. Max & Erma’s operates and franchises approximately 78 casual, family-style restaurants in a dozen states, primarily in the Midwest. Its restaurants are typically freestanding units that sport a collection of local memorabilia. Known for its gourmet hamburgers and bathtub-sized sundae bar, the chain serves a variety of moderately priced menu items, including chicken, pasta, salads, and steak dishes. Franchisees operate about 20 locations. The company operates full-service restaurants in Akron, Columbus, Cleveland, Cincinnati, Dayton, Niles and Toledo, OH; Indianapolis, IN; Ann Arbor, Detroit, Grand Rapids and Lansing, MI; Pittsburgh and Erie, PA; Lexington, Louisville and Crestview Hills, KY; Chicago, IL; Charlotte, NC; Atlanta, GA; Virginia Beach and Norfolk, VA.
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