Roots secures third U.S. store location

Canadian retailer Roots has secured another U.S. storefront as part of larger U.S. expansion plans, this time in Chicago, Illinois.

The store will open on Chicago's North Michigan Avenue in the city's famed Magnificent Mile.

The street-level retail space will be approximately 5,000 square feet and is expected to open in spring/summer 2019.

Last month, the clothing and accessories retailer announced plans to expand in the U.S. in the coming years. The retailer has already secured two U.S. retail locations in the Greater Washington, D.C. area including a 3,550-square-foot store on M Street, in the Georgetown neighbourhood, as well as a a second 3,200-square-foot store in Pentagon City, a Super Regional Mall in Arlington, V.A.

Roots is keeping a close eye on Chicago and currently evaluating other opportunities in the city and the surrounding areas, and anticipates to open two to three stores in the Chicago-area by the end of Fiscal 2019.

The company currently operates just three company retail stores in the United States, while they have 116 company retail stores in Canada and 110 partner-operated stores in Taiwan and 32 in China.

In its first full year results announced since completing an initial public offering in October, the 45-year-old apparel brand saw sales reach $326.1 million for the full year ended February 3, 2018.

By the end of fiscal 2019, the Canadian retailer expects sales of $410 million to $450 million, adjusted EBITDA of $61 million to $68 million and adjusted Net Income of $35 million to $40 million.

Roots secures third U.S. store location

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