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Starbucks Unveils Evolved ‘Reinvention’ Plan

Retail TouchPoints

The new “Triple Shot” plan builds on the original reinvention strategy introduced by former CEO Howard Schultz at the company’s Investor Day in September 2022. Over the past five years, we have opened 9,000 stores — 7,000 of which were outside of the U.S.,” in fiscal 2024, with an ultimate long-term goal of 20,000 U.S.

Planning 250
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Five Below Plans to Convert 400 Stores to Higher-Price Format

Retail TouchPoints

Five Below , the value retailer targeting the tween and teen markets, plans to open more than 200 stores during its fiscal year 2023, which ends in January 2024, and convert more than 400 stores to its higher-priced Five Beyond format. 30, 2022 through Jan. The retailer’s Q4 and FY 2022 will end on Jan.

Planning 318
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Warby Parker Boosts Revenue 12% in 2023, Plans 40 New Stores this Year

Retail TouchPoints

million generated in 2022. Warby Parker, which began life as a pure-play DTC retailer, opened 40 stores in 2023 for a total of 237 and plans to open another 40 stores this year. In only its second full year as a public company, Warby Parker generated net revenue of $71.7 million in 2023, 12% higher than the $669.8

Planning 265
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Dollar General Plans 800 New Stores, 1,500 Remodels in FY 2024

Retail TouchPoints

Dollar General is planning approximately 2,385 real estate projects for fiscal year 2024, including about 800 new store openings (including approximately 30 pOpshelf openings and 15 new stores in Mexico ), along with 1,500 store renovations and 85 store relocations. The discount retailer reported net sales of $9.7

Planning 252
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Sprouts Plans 35 New Smaller-Format Stores, Prioritizes Customer Acquisition for 2024

Retail TouchPoints

After opening a net 23 new stores in 2023 for a total of over 400 locations, Sprouts Farmers Market plans to open 35 new locations this year, all in its new smaller-store format. Sprouts committed to shrinking its stores’ square footage by 23% as a way to reduce environmental impact in June 2023.

Planning 225
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Following Tough 2023, Allbirds Plans to Close 10-15 U.S. Stores This Year

Retail TouchPoints

stores in 2024 as it seeks to streamline its operations. The footwear retailer, which currently operates 41 stores in the U.S million , in 2023 compared to 2022. Allbirds will close 10 to 15 underperforming U.S. and two in Canada, saw its net revenue decrease 14.7% , to $254.1 million this year, up from a $101.4

Planning 258
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Despite Challenging 2023, Tractor Supply Plans 90+ Store Openings This Year

Retail TouchPoints

net sales decline in Q4 2023, Tractor Supply still plans to open up to 95 brick-and-mortar stores in 2024, as well as complete its 10th distribution center. Comp store sales in Q4 dipped 4.2% ; for the full year of 2023, Tractor Supply’s net sales increased 2.5% , while comp store sales remained even with the prior year.

Planning 222