Land O Lakes Real Estate News - JLS Investment Realty

Bealls to open 16 stores
February 24th, 2011 4:07 PM

Bealls to open 16 stores

Published: Saturday, February 5, 2011 at 2:00 a.m.
Last Modified: Friday, February 4, 2011 at 7:23 p.m.

MANATEE COUNTY - Bealls Inc. plans to open 16 of its Bealls and Burke's Outlet stores during the next three months.

The chains now operates 462 stores in 16 states.

Those expansions and others this year are expected to boost the total square footage of the outlet chains by 10 percent, adding more than 1 million square feet of store space, the Manatee County-based company said.

The new stores average 28,000 square feet, which is larger than the average current store.

As it has since the onset of the Great Recession, Bealls is benefiting from the closings of other retailers.

"Our Outlet business has been quite healthy for the past two years, and we jumped at the opportunity to acquire attractive big box spaces currently available in our trade areas," said Jim Simpson, Bealls vice president of real estate.

In Florida, the company is opening stores in Marianna, Mary Esther, Port Orange, Land O' Lakes and Bartow.

Privately held Bealls has traditionally grown organically, reinvesting its profits back into the business.

Last month, the company tapped a retail apparel veteran with experience leading chains ranging from Lane Bryant to Christopher & Banks to be president of its department stores.

Lorna E. Nagler, 53, had been president and chief executive at Christopher & Banks, a publicly held, Plymouth, Minn., specialty retailer catering to baby boomer women that operates 800 stores in 46 states.

Nagler replaced Lana Cain Krauter, who was named president of Sears' apparel division.

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Posted by Jennifer Stepanek on February 24th, 2011 4:07 PMPost a Comment

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