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