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Burlington Coat Factory opening in Hamden Mart within a year

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11/18/2016 | 04:58am CET

Nov. 18--HAMDEN -- Another store in the Hamden Mart will be closing, but there's another store waiting to take its place.

Sometime over the next year Bon-Ton will be closing and will be replaced by the Burlington Coat Factory, according to Economic Development Director Dale Kroop. Bon-Ton sells clothing, jewelry and accessories, while the Burlington Coat Factory sells clothing and home accessories.

The town has been working with the owner of the shopping plaza at 2300 Dixwell Ave., Kroop said, to make sure its stores stay full.

"We have been working pro-actively at the Hamden Mart with Kimco Realty, and it is great to know that the only major vacancy in the magic mile will now be filled," he said. "Kimco has been a great partner who is always willing to work with the town and share important information about the retail market. It the best way we can help."

Bon-Ton is expected to close in the next six months to a year, Kroop said, after which the Burlington Coat Factory will be moving in. It's one of several changes that will be happening at the Hamden Mart in the coming year.

Several months ago, Wine Merchants got approvals to move from its current site next to Walmart several doors down to a portion of the space previously occupied by Toys 'R Us. That space has been vacant for years and is sublet each year in the fall for a store that sells Halloween supplies. But soon that space will be divided up, and Wine Merchants will take one side of it. The other side is expected to be leased by a major supermarket chain that has not yet been publicly announced.

The space currently housing Wine Merchants also will be rented to a national chain, according to Kroop.

Mayor Curt Balzano Leng said one of the town's priorities is to assist the business community to keep it vibrant, and there are more changes to come.

"We are very pleased to see positive developments and exciting new retail opportunities coming to the Hamden Mart," Leng said. "It is expected to see substantial development progress over the next year, beyond what we can officially announce right now."

Leng credited the work of Kroop and town officials who helped facilitate the moves. The Legislative Council had to approve the Wine Merchant move because it meant having two liquor stores closer than town ordinances allow. It approved the move because the store is already located in the Mart and is only moving a short distance down from where it is now.

"I extend my thanks to the members of the Economic Development Department and the Legislative Council, who helped to make many of these positive developments possible," Leng said, "and I look forward to the positive impact that these major retailers will have on both Hamden's economic future and the quality of life for Hamden residents."

___

(c)2016 the New Haven Register (New Haven, Conn.)

Visit the New Haven Register (New Haven, Conn.) at www.nhregister.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2016 1 151 M
EBIT 2016 427 M
Net income 2016 324 M
Debt 2016 5 021 M
Yield 2016 4,12%
P/E ratio 2016 33,23
P/E ratio 2017 38,28
EV / Sales 2016 13,7x
EV / Sales 2017 13,5x
Capitalization 10 711 M
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Average target price 29,6 $
Spread / Average Target 17%
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Conor C. Flynn President, Chief Executive Officer & Director
Milton Cooper Executive Chairman
Glenn Gary Cohen Chief Financial Officer, Treasurer & Executive VP
Thomas R. Taddeo Chief Information Officer & Vice President
Richard Brett Saltzman Independent Director
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