Plans to build the state’s first Duluth Trading Co. in Rogers continued forward with a recent land sale worth $895,000.
Oppidan Investment Co., a property development firm in Minnesota representing the Wisconsin-based retailer, acquired three lots totaling 2 acres near home furnishings retailer At Home, between Interstate 49 and South 27th Street. A request to rezone the lot from A-1 (Agriculture) to C-2 (Highway Commercial) was approved May 1 by the Rogers Planning Commission.
Waco Title Co. of Springdale was the title agent in the land purchase, which equaled $10.27 per square foot
AGG Investments LLC, led by Goldie Russell, was the seller. Russell is president and CEO of A.G. Russell Knives Inc., which has a retail store north of the site.
A spokeswoman for Duluth Holdings Co. (NASDAQ: DLTH), the publicly held parent company of Duluth Trading Co., did not confirm a Rogers store, but did provide the following statement:
“Duluth has publicly stated that we expect to open 15 new stores in our fiscal year 2018. Our policy is not to disclose the timing of new store openings until the leasing, permitting and development process has been thoroughly vetted. Our site selection for new stores is largely driven by data that demonstrates Duluth customer demand, and a site that will reflect the Duluth brand promise to our retail customers including a unique shopping experience, ease of access and ample parking.”
Duluth Trading Co. started as a mail-order business in 1989 by two brothers in the home construction industry. The company has since become a widely recognized work wear retailer, known for clever commercials touting, among other products, “Buck Naked” underwear.
It opened its first retail store in 2010 and went public in 2015. The company operates 40 stores across the United States. The closest stores to Arkansas are in Kansas City, Mo., Dallas and St. Louis.
In the second quarter that ended July 29, Duluth Trading Co. reported net sales increased 28% to $111 million. It was the 34th consecutive quarter of increased net sales year-over-year.