GREEN BAY, Wis., Jan. 14 /PRNewswire/ — Shopko announced plans to open a new Shopko Express store in its hometown, at the corner of Broadway and Dousman Street in downtown Green Bay. The drugstore will occupy the ground floor of a 39,000-square-foot, 3-story building that will be the first major anchor in the 90 million dollar redevelopment of the former Larson Canning site. The new store is expected to open in fall of 2008.
“This announcement is exciting for both Shopko and those involved in the downtown Green Bay redevelopment. We believe the goods, services, and convenience embodied in the Shopko Express concept are a perfect fit to fill the needs of people living and working in the downtown Green Bay area,” said Michael MacDonald, Shopko Chairman and Chief Executive Officer. MacDonald stated Shopko hopes to be a catalyst for further development in the area.
Shopko Express is a neighborhood drug store format focused on providing professional pharmacy services, health and wellness products and information, home business solutions, photo processing, as well as a convenient assortment of food and beverages and traditional drug store merchandise.
Existing Shopko Express stores are located in Howard, Wis., Ledgeview, Wis., and Port Washington, Wis. Two other Shopko Express stores are currently under construction, and scheduled to open mid-year, in the Appleton, Wis. area.
Shopko Stores Operating Co., LLC is an affiliate of Sun Capital Partners, Inc., a leading private investment firm focused on leverage buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Shopko is a $2.2 billion retailer of quality goods and services headquartered in Green Bay, Wis., with stores located in 13 states throughout the Midwest, Mountain and Pacific Northwest regions. Retail formats include 132 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in mid-sized to larger cities and three Shopko Express Rx stores, a convenient neighborhood drugstore concept. For more information, please visit http://www.shopko.com/.
First Call Analyst:
Source: Shopko Stores Operating Co., LLC