Store names & possessive

Observation: It seems that it's common to turn a store name into a possessive, for example a store named "Palisade" gets transformed to possessive in speech like, "Hey how about going to Palisade's for breakfast?" Another example is Chutneys Grille in Seattle. Many (most?) store names do not get this treatment. It seems most common if the store name is:

• Abstract: "I saw a great concert at BOOT's last night."
• A person's name, or what looks like a person's name: "I got this at JC Penney's"
• Totally unknown word: "I get my hair cut at Foofum's"
• [UPDATE] Is it ungrammatical to do this?

My assumption is that it's a short form of saying "BOOT's performance venue" (nonsensical though?), "JC Penney's shop", or "Foofum's salon".

Questions:

1. Is this common, or is it just my home town or something? Or my imagination?
2. Why must we do this instead of simply calling the store by its rightful name? To me "I saw a concert last night at BOOT." is no less clear, and no more difficult to say.

Inspired by a previous question

Solution 1:

The fact is, we can do this by calling a store by its rightful name.

I got this at The Gap.

I got this at Sears.

I got this at Kohl's. [Kohl's is the store's real name.]

I got my snow thrower at Lowe's. [Lowe's is the store's real name.]

I got this book at Barnes & Noble, because it was cheaper than Brentano's was selling it for. [Yeah, I know Brentano's sold out, but that was their real name.]

Sometimes people feel they have to add a possessive to a store's name, but they really don't. People who say JC Penney's just don't know what the store's name really is. They may even think Sears is Sears' or Sear's.

Solution 2:

It seems to me that this is rooted in the nineteenth century habit of labeling a business by a sign giving the proprietor's name and the type of goods or services provided: "A. Anderson / Dry Goods", "GENERAL STORE / C. Johnson, prop.", etc. (This differs from some later forms of business names, like "Dairy Belle".)

How are people going to succinctly refer to such a business? The obvious way is with "Anderson's store" or some such, and that quickly becomes abbreviated to "Anderson's" or equivalent. I think this explains most cases; others may simply applying the same form of shortening to a business name which is mistakenly thought to be based on a personal name. Certainly, this is the case with the stores of J. C. Penney, where it never identified itself as Penney's, but was widely known that way. (You won't find Burger King referred to as King's.)