Greenback Common To Open New Larger-Finish Shops Concentrating on Wealthier Consumers – CBS dangolka

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(CBS/CNN) — Greenback Common, the retail powerhouse identified for its rock-bottom costs, is opening a brand new retailer aimed toward higher-end suburban consumers. The corporate is launching its first two Popshelf shops in Nashville within the coming weeks, and plans to open one other 30 by the tip of subsequent 12 months.
Greenback Common has Massachusetts places in Brookfield, Carver, Dracut, East Wareham, Lanesboro, New Bedford, Pittsfield, Sheffield and Westminster, in addition to 10 shops in New Hampshire.
The brand new shops are opening at a troublesome time for retailers — particularly brick and mortar shops that have been pressured to shut in the course of the pandemic. However Greenback Common has been nicely positioned as a discount retailer at a time of financial uncertainty for thousands and thousands of People.
The low cost chain of greater than 16,000 shops noticed gross sales at shops open not less than a 12 months climb 18.8% in the course of the second quarter, which ended July 31. The corporate famous it “continued to expertise elevated demand in its shops.” The corporate’s shops, which have been deemed important, have remained open all through the pandemic.
Greenback Common’s new retailer Popshelf (Picture credit score Popshelf through CNN)
The brand new shops function a variety of dwelling and wonder items, nearly all of which will likely be priced round $5. The corporate mentioned Popshelf shops goal girls in suburban areas that earn between $50,00 and $125,000 a 12 months.
Popshelf clients can anticipate finding “shocking offers” together with seasonal specials and limited-time objects, the corporate says. Every retailer will likely be about 9,000 sq. toes, making them larger than Greenback Common’s common comfort shops.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. CNN’s Jazmin Goodwin contributed to this report.)
 

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