UPDATE: Ahold could shed light on Harris Teeter acquisition

For months now, rumors have been circulating about who - if anyone - will buy local supermarket company Harris Teeter. But a Dutch company's financial results Tuesday could give a hint about one potential suitor's intents (see below for an update Tuesday).


Royal Ahold, owner of U.S. supermarkets including Stop & Shop and Giant, has been discussed as a possible buyer for Harris Teeter.

Remember, Harris Teeter disclosed in February that it has hired J.P. Morgan to explore a possible sale of the company.

Ahold has been flush with cash since selling its stake in the ICA supermarket chain to another European grocer for $3.1 billion earlier this year. With a $2.3 billion market cap for Harris Teeter, some analysts speculated Ahold could turn around and purchase the Matthews-based grocer.

But Bloomberg News is reporting that analysts now believe Ahold will announce Tuesday that it plans to give back most of the proceeds from the ICA sale back to shareholders in capital payments and share buybacks.

UPDATE: Ahold is returning $2.6 billion worth of capitol to shareholders, according to Bloomberg News.

That would, of course, reduce the amount of cash Ahold has for potential acquisitions, and dampen the likelihood Ahold buys Harris Teeter.

So who would that leave? Other names that have been thrown around as acquirers for Harris Teeter include rivals such as Publix and Kroger, or private equity firms such as Cerberus and Bain. Or, the other possibility might be more likely: That Harris Teeter doesn't sell to anyone and remains independent. What do you think?

Belk holding 125th anniversary giveaways Wednesday

Charlotte-based Belk, Inc. is giving out gift cards up to $1,000 and free cupcakes at its stores on Wednesday, part of its 125th anniversary ("quasquicentennial") celebrations.

Starting at 9 a.m., the first 100 customers at each of Belk's stores will receive a gift card valued between $5 and $1,000. The fine print notes that there are three gift cards worth $1,000 being given out in total, one in each of Belk's three divisions.

There will also be cupcakes and other entertainment, Belk said.

The events are a continuation of Belk's 125th anniversary celebration, which has been ongoing this year. Wednesday is the actual anniversary of the opening of William Henry Belk's first store, which opened on May 29, 1888, in Monroe.

It was a discount store called "New York Racket," a name later dropped (and one that presumably wouldn't fit with Belk's current tagline of "Modern. Southern. Style.").

Here's a short snippet of Belk's early history: "Twenty-six-year-old William Henry Belk had been a store clerk for 12 years when, on May 29, 1888, he opened a small bargain store in the rural farming community of Monroe, North Carolina. He named it the New York Racket in hopes the name would attract customers and began practicing retail tactics that were unique for the time and place. Sales were strictly cash. Prices were clearly marked so there was no haggling. And, customers could return goods for an exchange or full refund if not completely satisfied. In 1893, William Henry persuaded his brother, Dr. John M. Belk, to leave his medical practice and join him as a partner in the business. Together, they expanded the company throughout the Carolinas and the South as the company flourished and grew."

Belk operates 301 stores now, mostly in the Southeast. The stock is privately held, largely still by the Belk family.

H&M to open Carolina Place store

Another one of Charlotte's most highly-desired retailers is coming to the region: H&M plans to open a store in Pineville this fall, at Carolina Place mall.

The store will be the retailer's first in the Charlotte market. Fans of the fast-fashion apparel store have looked on with envy as the company opened Raleigh and Winston-Salem locations over the past few years.

The store at Carolina Place will be 17,000 square feet, located on the mall's upper level next to the Hollister store and near the food court.

From the store's announcement: "H&M at Carolina Place Mall will include collections for ladies, men, young ladies and young men, with separate “store within store” sections for lingerie and accessories. This location will also carry H&M’s fantastic children’s collection, which features quality clothing for kids ages newborn to eight."

Carolina Place is owned and operated by General Growth Properties. The 1.16-million square foot mall had a 97 percent lease rate in the first quarter, according to GGP's financial reports.

Carolina Place marketing director Scott Anderson said discussions with H&M have been going on for several years as the mall tried to sign the retailer.

"We’ve been working with them for a while trying to get that together," he said.

"It’s exciting," said Anderson. He said H&M was the most-requested store at the mall. "The last two years, you’re always getting questions - 'You guys need an H&M. When’s an H&M coming?"

Now that Charlotte has a Whole Foods, Ikea, and three Trader Joe's open, as well as an outlet mall and an H&M on the way, what stores do you want to see that the city still doesn't have?



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Renovated Apple store at SouthPark grand reopening Saturday

Apple has spent a lot of money renovating its SouthPark mall store, and the company is holding a grand reopening ceremony on Saturday to celebrate.

From the company's announcement sent Tuesday: "The redesigned Apple Store, SouthPark, is opening soon, and it’s bigger and better than ever. There are more Apple products available for you to try. There’s more space for workshops, training, or to meet with a member of our Business Team. Even the Genius Bar is bigger, so we can help more customers."

Mecklenburg County building permits filed earlier this year show Apple spent more than $631,000 on the renovations. The scope of work included "partitions, ceilings, finishes,furniture, and related HVAC, electrical and plumbing work."

The store is currently open, but is holding a reopening event Saturday morning at 10 a.m. to mark the renovations. The first 1,000 customers get a free commemorative t-shirt (no purchase necessary), so if you haven't lined up for an Apple store opening yet, this is your chance.

Apple sent this promo photo. My take on it: "Your children will be amazed by Apple's laptops."

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New men's clothing store opens uptown

There's a new place for stylish men to shop uptown : Abbeydale is now open at 4th and Tryon streets.

The store held a soft opening Thursday, and has a grand opening scheduled for Thursday, May 30. Owner David Watkins said he hopes to grow both his new ready-to-wear line and his bespoke suit business in the new retail space.

"I have a lot of clients that wear suits and work uptown," said Watkins. He started the company two years ago, and had previously worked with clients by appointment at a studio in Plaza Midwood.

A native Charlottean, Watkins, 38, named Abbeydale after the east Charlotte street he grew up on. Watkins had worked in advertising for about a decade, but didn't want to stay in that field forever.

"I just kind of got burned out on that," he said. Watkins decided to do something he's always been interested in, designing men's clothing, full-time.

Now, he sources clothing for his new line from around the U.S. and the world. He sells denim from Virginia, ties from Italy, suits from Hong Kong and the U.S., shirts from New England and knits, such as polos, from California.

His look is an "American aesthetic," Watkins said. His suits tend more to the European, Italian style than the British. "Nothing too structured," he said.

With the new retail store, Watkins hopes to make headway selling his ready-to-wear line of clothes, which is arriving at the store now. But he said he remains focused on bespoke suits and custom apparel, created from scratch for each client.

"Our core business is still custom," said Watkins. "The Abbeydale product is a true custom product."

The most important thing, and the reason for all the attention paid to custom clothing, is how the finished garment actually fits, Watkins said.

"Our focus is on fit," said Watkins. "If it's ill-fitting, you're still not going to look great" even in a suit that cost thousands, he said.

Abbeydale storefront, from the store's Tumblr

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Harris Teeter closing Providence and Queens store June 4

The Harris Teeter Express at Providence and Queens roads will close June 4, as the company works to complete a two-story replacement store at the site.

The new, 42,000-square-foot store is set to reopen in November, Harris Teeter spokeswoman Catherine Reuhl said. Harris Teeter announced the new store project in Feb. 2011.

Building permits show Harris Teeter is spending more than $9 million on the new store. The new building will include a second-story mezzanine and more parking than the current store, which was an A&P grocery store when it was built in 1938.

It will be Matthews-based Harris Teeter's second major store replacement in Charlotte. The Harris Teeter on Central Avenue is set to reopen May 29. At that location, Harris Teeter replaced a smaller, older store with a new, larger Art Deco-style building.

The Providence Road store project also includes road improvements designed to help drivers navigate one of the city's most vexing intersections, the Queens-Queens-Providence-Providence vortex that is Charlotte's Bermuda Triangle. You can see details about the roadwork here.

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Papyrus opening SouthPark mall store

Stationery and gift store Papyrus is opening a new store this summer at SouthPark mall.

The store will open in June, according to SouthPark. Papyrus is located near the mall's food court. Building permits filed in April with Mecklenburg County show the company is spending $78,500 to renovate the 1,424-square-foot space.

Papyrus sells invitations, custom-printed materials, stationery and gifts for different events such as baby showers and graduations.

The company currently has a location at the Streets at Southpoint in Durham, its only retail outlet in North Carolina.

Papyrus storefront, courtesy SouthPark's Facebook page

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