Shopko

Shopko (formerly ShopKo until June 2007) is a chain of retail stores based in Ashwaubenon, Wisconsin. Shopko was founded in 1962 by James Ruben, and its first store opened in Green Bay. From 1991 to 2005, the company was publicly held, with stock traded on the New York Stock Exchange under the symbol SKO. In December 2005, the company was acquired by an affiliate of Sun Capital Partners and reverted to private ownership.

In 1999, Shopko purchased Pamida, a regional discount chain that operated mainly in smaller communities of 3,000 to 8,000 people. Shopko operated Pamida as a separate division until 2007, when Pamida was separated from Shopko and reestablished as a separate company. In 2012, Shopko and Pamida merged into one company. Shortly after, most Pamida stores were rebranded as Shopko Hometown.

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Tenant Overview

With a new focus on small-box stores, Shopko’s typical new store format consists of 25,000-35,000 square foot locations in rural ares that focus on name brand and product caterogy expansion.
The company opened 53 Hometown stores in 2015 and already has opened a dozen more in 2016, with plans to open up to 40 Hometown stores annually.

The biggest problem is that only 17 percent of the U.S. population lives in rural areas. What’s more, incomes are generally lower and poverty rates are higher in rural areas versus urban areas.

Yet Shopko is convinced it can compete and grow as a serious rural player with Hometown stores. Most of its locations also have pharmacies and many have optical departments, but one of the biggest draws is the surprisingly wide selection of name brand merchandise.

Positives:

  • Typically located in strong retail corridors
  • Typically Long term leases with increases

Negatives:

  • Competitive Industry Sector
  • Susceptible to economic trends and pressures
  • Large spaces make it more challenging to re-tenant

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Shopko Similar Tenants

Shopko Company Profile

Headquarters Information

Green Bay, Wisconsin

Founded in 1962

Company type: Private

Industry: Retail

# of Employees: 16,900

S&P Rating: N/R
S&P Rating: N/R
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