by At more than 100,000 square feet, the location in a former Macy’s department store would be the retailer’s largest
SPOKANE, Wash. — As it prepares to open the largest store in it is network of 33 locations, Broad River Retail is also venturing into an entirely new market that’s outside its core geographic area.
This week, the Ashley licensee announced its plans to open a new store in a former 101,250-square-foot Macy’s store at NorthTown Mall along North Division Street in Spokane. This will be its first venture into the western half of the U.S. as its stores are primarily located in North and South Carolina and Georgia.
At more than twice the size of its largest location — currently its 47,350-square-foot store in Fayetteville, North Carolina — it is also the company’s first three-story location, with the others being single-story properties, said Charlie Malouf, chief executive officer.
It will feature Ashley’s 7.0 store concept and a main showroom offering a wide mix of furniture collections, an Ashley outlet with budget-friendly furniture and a bedding department with more than 80 mattresses across brands such as Tempur-Pedic, Stearns & Foster, Sealy, Purple, Ashley Sleep, Nectar and Bedgear.
For Malouf, this multimillion-dollar investment is the latest chapter in the company’s growth history, dating back to its founding in 2003. It’s also one of its boldest moves, being in a state that’s on the other side of the country, nearly a few thousand miles away from its core markets.
“This happened to be a market that we discovered that was coming available,” he told Home News Now, noting that the company began the search for available real estate about 13 months ago and is looking at opening a few stores plus distribution operations in the market in the next two to four years. “We really, really studied the market and the surrounding areas extensively. … We felt like we really understood the market and understood the retail and then found a location where we thought we could win.”
“Expanding into Spokane is an exciting milestone,” added Manny Rodrigues, president and chief operating officer of Broad River Retail. “This vibrant city, with its rich cultural heritage and growing community, is the perfect place for Ashley, the number one name in home furnishings. We’re thrilled to provide career opportunities and help our guests create spaces where life’s best memories are made.”
Located in the eastern-central part of the state, the city of Spokane has a population of about 230,000 while the surrounding metropolitan area has a population just over 600,000.
“It’s a market size we know really well,” Malouf said. “And the opportunity to build it from the ground floor up was really attractive to us.”
While there will be challenges in operating outside its core markets, which include stores in communities that are within just several hours of its Fort Mill, South Carolina, headquarters, Malouf said the company is prepared to make the move thanks to a seasoned and experienced team of associates.
“This will be our most ambitious challenge but we have time to figure it out,” Malouf said, noting that the opening is planned for eight to 12 months from now. “We have a leadership team that is mature and experienced and operationally efficient.”
The store will employ roughly 30 people in management, sales and distribution center operations. He noted that some senior management team members could move temporarily or permanently to the area if they choose to help train associates and get the store opened and running. Others including salespeople and administrative staff will be hired from the local market. Some of those individuals also may come to its North or South Carolina operations for additional training as needed.
He said the company has also identified a second location in the market it is working on but is holding off on sharing details at least until the first one is closer to opening.
For now, however, he said, the retailer is committed to investing in the region regardless of the distance or other logistical challenges.
“We are going to put all our money into the store and into the market,” he said of its multimillion-dollar investment. “We a making big commitment here and it will be a good challenge, but we are taking it very seriously.”
