Expansion of retail businesses continues to take center stage across the United States, with both new openings and closures marking the current economic climate. Various organizations are making headlines for different reasons—some for growth and others for unfortunate downsizing.
One of the brighter stories in this narrative is Curaleaf Holdings, Inc., which has relocated its dispensary to Sedona, Arizona. According to their press release, the new location, situated at 1610 State Road 89A, offers increased accessibility for customers as it lies directly off the major highway. The new location opened on February 27, 2025, which coincides with Curaleaf's strategy of enhancing customer accessibility.
Luke Flood, Curaleaf’s Regional Senior Vice President, stated, "Since 2018, Arizona has been an exciting state for us to grow and evolve our retail and product offering. Now one of the 16 Curaleaf dispensaries operating in the state, the new Curaleaf Sedona offers customers a more accessible and convenient shopping experience, right off Highway 89A." This new dispensary not only promises greater visibility but also expanded product offerings, featuring popular brands like Select and Grassroots.
Curaleaf is not the only company rolling out significant expansions. Wawa, Inc., solidified its first foray beyond the East Coast with plans to open its first store in Ohio on April 16, 2025. The new Wawa location, situated at 7198 Cincinnati Dayton Road in Liberty Township, marks the beginning of Wawa’s expansion plans, which aim to establish 8-10 stores across Ohio within the year. It also commemorates the anniversary of Wawa's founding dates, hinting at both nostalgia and future growth.
Brian Schaller, President of Wawa, expressed excitement about this strategic move. "We are excited to fly to Ohio and bring our unique combination of fresh food and beverage, convenience and service to this state for the very first time," he said. Wawa's long-range plans indicate they may open up to 60 stores statewide, providing significant employment opportunities and community involvement.
On the other end of the spectrum, the news is less encouraging for Joann Stores, Inc. The fabric and craft retailer announced plans to close all of its more than 800 locations after filing for bankruptcy twice within the last year due to sustained financial and inventory challenges. Following the auctioning off of its assets over the weekend, Joann cited their leadership having tried to salvage the company but recognized the inevitability of their wind-down operations.
A company statement reads: "JOANN leadership, our Board, advisors and legal partners made every possible effort to pursue a more favorable outcome... we are committed to working constructively with the winning bidder to minimise the impact on all our stakeholders." This stark reality serves as just one example of how retail can experience cycles of rapid growth and decline simultaneously.
Meanwhile, Hawkins Way Capital has been making strides with its acquisition of University Centre Newark, which will now operate under the FOUND Study brand. This expansion is aimed at providing quality student housing for those attending nearby universities such as Rutgers and NJIT. "The acquisition of University Centre reflects our commitment to enhancing the student living experience with well-designed, amenity-rich housing," stated Ross Walker, Managing Partner of Hawkins Way Capital.
The heightened focus on student housing reflects broader trends, emphasizing the need for quality accommodation within college towns. The new property will feature 521 bedrooms, ample facilities, and access to local amenities, all aimed at enhancing student life.
Totaling the picture, Curaleaf and Wawa are just two examples of brands ramping up their retail footprints across the U.S. One provides cannabis products, the other fresh food and beverages, demonstrating the diverse directions retail is taking. Conversely, Joann's closure emphasizes the balance retailers must strike between maintaining profitability and responding to market conditions.
Overall, the current retail environment is indicative of broader economic trends, emphasizing the need for companies to adapt and innovate to meet changing consumer demands. From vibrant expansions to sobering closures, each facet of the industry contributes to the larger narrative of retail businesses across the United States.