Roots Announces Plans for Store in Chicago
TORONTO, May 3, 2018 /CNW/ - Roots ("Roots Canada" or the "Company") (TSX: ROOT), an iconic lifestyle brand with a rich Canadian heritage, today announced it has signed a lease to open a store in Chicago, Illinois.
As disclosed in a GGP Inc. press release on May 3, 2018, Roots has signed a lease to open a store on Chicago's North Michigan Avenue. With an agreement that includes approximately 5,000 square feet in street level retail space, Roots plans to bring its premium lifestyle brand (consisting of apparel, leather goods, footwear and accessories) to the city's famed Magnificent Mile, which is known for its shopping and entertainment, including more than 460 retailers, 75 restaurants, 60 hotels and many unique attractions.
With an expectation of opening the doors to the Michigan Avenue store in spring/ summer 2019, Roots will continue to evaluate other opportunities in Chicago and the surrounding areas. The Company anticipates having two to three stores in the Chicago-area by the end of Fiscal 2019.
About Roots
Established in 1973, Roots is an iconic Canadian lifestyle brand with a rich heritage and portfolio of premium apparel, leather goods, accessories and footwear. Roots delivers products to customers through its store network, online platform and international partnerships. As of February 3, 2018, Roots integrated omni-channel footprint included 116 company retail stores in Canada, three company retail stores in the United States, 110 partner-operated stores in Taiwan, 32 partner-operated stores in China and a global e-commerce platform. Roots Corporation is a Canadian corporation doing business as "Roots" and "Roots Canada".
Forward-Looking Information
Certain information in this press release contains forward-looking information. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.
See "Forward-Looking Information" and "Risk Factors" in the Company's Annual Information Form for the Fiscal year ended February 3, 2018 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
SOURCE Roots Corporation
Investor Relations: Kristen Davies, [email protected], 416-781-3574 Ext. 4116; Public Relations: Elyse Goody, [email protected], 416-781-3574 Ext. 4332
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