On Sept. 17, 99 Cents Only Stores (NYSE:NDN
), said it is exiting the state of Texas through the closure of its 48 stores located there. The move will leave the dollar item retailer with 230 stores in CA, AZ and NV.
According to CoStar Tenant, the typical Texas 99 Cents Only store is 20,000 square feet, but store range in size from 16,000 to 45,000 square feet.
99 Cents said the Texas stores were responsible for only 10% of the company's total sales, as the stores were producing only slightly more than half of the average sales of stores located in other states.
A list of the company's Texas stores is available on its website.
This article appears in CoStar's Retail News Roundup: Sept. 21 to 27, 2008, a weekly column covering retail store expansions, closings, bankruptcies, acquisitions/mergers/sales, new retail developments, personnel changes, sustainability, and more.
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Kona Grill, USA Today and Giant Foods; new retail developments in AZ, NJ and NH; acquisition, merger, loan or sale activity at Gordmans and Sun Capital, Linens 'n Things and Cerberus, Publix and Albertson's, and Boscov's; closings, cutbacks or bankruptcies at 99 Cents Only, Friends 2B Made, Marty's Shoes, and Lifetime Brands; personnel announcements at Weingarten, Newmark Knight Frank, and Big 5 Sporting Goods; and more.