EQUITY RETAIL BLOG

Experts weigh in on Target's PFresh model

Tuesday’s Supermarket News story on the impact of Target’s PFresh food sections, which are in 875 Target stores and typically cover about 17,000 square feet, quoted several industry experts. Here’s a sampling: From Neil Stern, managing partner, McMillan Doolittle (Chicago): – “The way Target has set up PFresh allows it to talk about a grocery offering […]

Cap rates for grocery-anchored centers in low 6% range

A recent story on RetailTrafficMag.com stated that “with scores of institutional buyers looking for quality assets in primary markets, competition for class A centers is fierce and top-tier grocery-anchored shopping centers are now trading at cap rates in the low 6 percent range, while cap rates for core malls have sometimes dipped below 5 percent,” according […]

Weis to invest $125 million in store growth program

Weis Markets reported last week that it will invest $125 million in store growth this year, including two new stores and several major remodels. The investment represents a 25% increase over 2011. According to the company, the ongoing renovation program has reached approximately two-thirds of Weis’ 159 stores so far, and has contributed to sales […]

Safeway: net income increase, expects $67M gain from Genuardi's sale

Earlier this week Genuardi’s parent company Safeway reported an increase in net income for the first quarter of 2012. In addition to Genuardi’s, Safeway operates stores under the Vons, Dominick’s and Safeway banner, among others.   The company earned $72.9 million in the three months ended March 24, compared to $25.1 million during the same […]

Safeway stock price rises on acquisition speculation

Genuardi’s parent company Safeway saw its stock rise 7.5% last week, its largest one-week rally since 2009, on speculation of a possible acquisition. With nearly 1,700 stores, Safeway is one of the country’s largest supermarket operators. The acquisition talk was triggered by Safeway’s adoption of a vesting acceleration that may require executives to remain with […]

Dollar Tree adds pharmacy to FL store

Dollar General has a grocery concept, and now Dollar Tree has a store with a pharmacy. Dollar Tree recently contracted with an independent pharmacy based in Boca Raton, FL, to add a location inside a Deals stores in West Park, FL. (Deals is a Dollar Tree variety store concept.) Although there are people who have […]

New prototype Wawa under development for Florida

Wawa CEO Howard Stoeckel said recently that the company’s stores scheduled to open this year in Florida will resemble a restaurant that sells gas, rather than a convenience store, as we are accustomed to in Pennsylvania and Delaware. The new store prototype will be built around fast-casual food and convenience, and will feature an array of […]

Supervalu lost $1 billion in fiscal year, CEO is pleased with overall results

Supervalu (Acme, Save-A-Lot) reported earlier this week that it lost $424 million in the fourth quarter (which ended February 25), compared with a gain of $95 million for the same period last year. However, the news is good for some, as the company’s results beat Wall Street’s expectations. More news (good or bad, depending on how you […]

Pink Slime is gone, and so are thousands of workers

Up until recently, we’ve all been fine eating lean finely textured beef (LFTB). Dubbed as “pink slime” in 2002 by Gerald Zirnstein, then a USDA scientist, we’ve been eating it for years with no reported cases of foodborne illness due to its consumption. In fact, the USDA says it’s safe. Everything changed earlier this year. It’s […]

Wegmans, Trader Joe's top Consumer Reports survey for best supermarket

A Consumer Reports survey released today ranks Wegmans as the top supermarket in the country, based on feedback from 24,203 readers. Wegmans has 79 stores in New York, New Jersey, Pennsylvania, Massachusetts, Maryland and Virginia. The top five stores are as follows: 1. Wegmans 2. Trader Joe’s 3. Publix 4. Fareway Stores 5. Costco Customers […]