Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Wal-Mart expects to open its first store in India in the next two years now that the government has approved new rules allowing foreign multi-brand retailers to own 51% of their stores there, according to the Wall Street Journal. There will be challenges, starting with
J.C. Penney is planning a 30,000-square-foot prototype, which it hopes will transform the department store into a collection of branded shops and gathering areas. Read the Bloomberg story here.
The Hotel Price Index by Hotels.com shows average hotel prices in North America for the first half of 2012 rising 5 percent from that of the same period last year. Average spending at domestic hotels has reached about $125 per night across the United States.
Wal-Mart Stores is opening five smaller-format Neighborhood Market locations in California’s Central Valley. The concept, launched in 1998, has about 200 stores nationwide, with a focus on discount groceries and quick, convenient shopping. Read the Sacramento Bee story here.
U.S. restaurant companies are expected to record a combined same-store sales increase of 2.8 percent for the third quarter, with growth slowing from both the second quarter and the year-earlier period, according to data from Thomson Reuters Corp.
Sweden-based home furnishings giant IKEA plans to double the number of new store openings by 2020, with a particular emphasis on gaining market share in the United States and China.
Fighting rising gas prices and fiscal uncertainty, consumers helped provide another modest boost to the economy thanks to a solid showing during the back-to-school shopping season. According to the National Retail Federation, August industry sales (excluding automobiles, gas stations and restaurants) rose by 0.2 percent
Nordstrom will open its first Canadian department store in Calgary in 2014, followed by new units in Ottawa, Vancouver and Toronto, with three of the four new stores planned for former Sears Canada locations, according to The Wall Street Journal. The Seattle-based luxury retailer aims
Chipotle Mexican Grill has selected a restaurant space in Georgetown for its second Shophouse Southeast Asian Kitchen. Chipotle debuted the concept with the opening of the first Shophouse in Washington, D.C., last year. Read the American City Business Journals/Washington, D.C. story here.
Papa John’s will marked the opening of its 4,000 global store on September 14, when CEO/founder/chairman John Schnatter gave away 4,000 pizzas throughout New York City. The store also held a celebration in nearby New Hyde Park, N.Y., where the milestone unit is located.
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