REAL ESTATE: Amazon, Meijer, Target & China
Home & Textiles Today Staff -- Home Textiles Today, September 9, 2013
Amazon.com continues to embark on its warehouse-building bonanza with five new warehouses planned for the U.S. this year. The retailer has spent a reported $13.9 billion on 50 new facilities since 2010 -- more than the company spent on warehouses in its lifetime -- bringing the total to 89 at the end of 2012.
Warehouse growth is also fueling speculation that Amazon is planning to bring grocery delivery to New York City. This comes amid reports that a partner of Amazon bought a 964,000-square-foot facility with refrigeration in nearby New Jersey, and appears to be actively hiring staff for the facility.
99 Cents Only said it plans to increase its store count by approximately 10 percent in existing markets in fiscal 2014. In 2013, the company opened six stores - three in California, one in Nevada and two in Texas. As of June 29, it operated 322 stores.
While Meijer has grown slowly in the past, the discount retailer plans over 9,000 new hires for several store openings. The Midwest retailer has 203 stores, having opened five of the six new stores planned for this year, with another nine opening next year.
Target recently held a job fair to hire 250 workers for its new Huntington Station, N.Y.-store. A soft opening for the 150,000-square-foot store is planned for Oct. 9 with a grand opening event on Oct. 13. And the retailer is heading to King of Prussia, Pa., opening a new store at the Valley Forge Shopping Center on West DeKalb Pike. It will be the first Target store in the city of King of Prussia.The store will be approximately 165,000 square feet and employ 200-250 workers.
Toys 'R' Us plans to open more than 100 stores in 2013, adding over 900,000 square feet of retail space. These include new locations, the relocation and conversion of 14 stores to the Side-by-Side format, and 22 new licensed stores.
The company is taking aim at China, where it has started launching some of the 22 new stores planned for this year. By the end of the year, the toy retailer plans to run 52 stores in 27 cities in China. In the U.S., the company plans 19 new, converted or relocated stores, including nine new outlet stores, bringing the number of these smaller format stores to 25 nationwide.
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