EQUITY RETAIL BLOG

Live! Hotel & Casino Receives Planning Commission Approval

Rezoning and gaming approvals are next. Commercial Property Executive Article

Movie Tavern Proposed in Trexlertown

Movie Tavern looks like it might be coming to Trexlertown, Pennsylvania.  Congratulations to Dave Goodman of Equity Retail Brokers who represented Movie Tavern in the transaction.  Morning Call Article

Beneficial Bank to Acquire Conestoga Bancorp

Beneficial has 56 branches.  Conestoga has 14.  Nine months after raising nearly $500 million in a second-step conversion, Beneficial Bancorp said Thursday that it will buy Chester Springs-based Conestoga Bancorp for $105 million in cash. Conestoga has $712 million in assets, $506 million in loans and $530 million in deposits and 14 branches in Philadelphia, […]

Albertsons postpones IPO indefinitely

Albertsons, which had been expected to complete its initial public offering last Thursday, announced the day before that the IPO was postponed indefinitely due to recent market volatility. The company had said in a prospectus that it intended to offer 65.3 million shares priced at $23 to $26 per share, with the possibility of selling […]

Target delaying food overhaul until 2017

The Minneapolis Star Tribune reported earlier this month that Target has pushed back the rollout of its food overhaul from 2016 to 2017, saying they need more time to hash out and test ideas. The company’s goal is to make its grocery department more of a destination, rather than an afterthought. The process has already […]

Dollar General to increase sale of perishables, health and beauty products

Dollar General announced recently that the company is working on a new store prototype that will provide more fresh foods and health and beauty products. The rollout will begin in 2016 with all new stores and remodels. CEO Todd Vasos said the new stores will have more coolers, which mean more perishables, and “perishables drive […]

Wegmans coming to Lancaster, PA

Wegmans announced yesterday that it plans to open a new store in Lancaster, PA in 2018. The 120,000 square foot store is slated to anchor The Crossings at Conestoga Creek, a proposed mixed-use development on Harrisburg Pike, just east of the Route 30 interchange in Manheim Township. High Real Estate Group is the developer. Lancaster […]

Aldi and Lidl planning shake-up of U.S. grocery landscape

A Wall Street Journal article last month said “the two scrappy German discounters that have wreaked the most havoc in Britain are ratcheting up their U.S. ambitions.” The discounters are, of course, Aldi and Lidl. Aldi currently has over 10,000 stores in 18 countries. (Aldi is actually broken down into Aldi Nord and Aldi Sud, […]

Whole Foods to layoff 1,500 employees

Whole Foods said last week it would eliminate 1,500 jobs, or 1.6% of its workforce, as part of a commitment to invest in technology and lower prices. The company anticipates that many of the reductions would come from natural attrition, and that it expects other affected employees to find jobs elsewhere within the company via […]

Albertsons set to raise $1.8 billion from IPO

It was reported last week that Albertsons, which operates 2,200 stores in 33 states, including Acme Supermarkets in the Greater Philadelphia Region, expects to raise up to $1.84 billion in its initial public offering. The company has not yet said when the IPO will take place. Executives plan to change the organizational structure of AB […]