Green: Hobby Lobby to keep growingPublished: Wednesday, August 29, 2012 By: Brianna Baileyh
OKLAHOMA CITY – Same-store sales at Hobby Lobby Stores Inc. are up about 9 percent this year and the company will have about 520 stores across the country by the end of the year, CEO David Green said Tuesday at the Idea Exchange, an event sponsored by the International Council of Shopping Centers.
Speaking with Carl Edwards, partner in Price Edwards & Co., Green said the company continues to expand its headquarters in southwest Oklahoma City.
Hobby Lobby has about 5.5 million square feet of office and warehouse space on its corporate campus at 7707 SW 44th St. and is in the process of adding about another 1 million square feet to accommodate its expansion, Green said.
The headquarters serves as a central distribution center for all 490 of its stores in 40 states. About 100,000 seasonal and everyday products are shipped to each store from the Oklahoma City warehouses.
“Ninety-eight percent of what is in every one of our stores is in Oklahoma City first,” Green said.
Hobby Lobby has about 22,000 employees companywide and about 4,000 in Oklahoma.
The Idea Exchange at the Cox Convention Center featured talks from real estate brokers and retailers about the state of Oklahoma’s retail real estate market.
Several retailers, including the Baton Rouge, La.-based fast-food chain Raising Cane’s and Oklahoma City-based Mathis Brothers Sleep Studio, said they have plans to open new stores in Oklahoma this year.
Rick Fuchs, vice president of real estate for Raising Cane’s Restaurants, said the company plans to open 30 new locations this year, focusing mostly on Oklahoma and Texas.
Kerry Tramel, president of the Mathis Brothers-owned Lady Americana mattress brand, said the company will have five Sleep Studio stores in the Oklahoma City metro area by Thanksgiving.
“More new retail concepts are coming to our market now than in the past 20 or 15 years and that’s exciting,” said Jim Parrack, senior vice president at Price Edwards & Co.