Giant to Buy Two Genuardi’s Sites
Slowly but surely Southeastern Pennsylvania continues to see the decline of Genuardi’s (Safeway) and the rise of Giant (Giant Food Stores / Ahold USA). It was announced yesterday that Giant will buy two Genuardi’s sites in Bucks County – one in an 111,000 square foot Federal shopping center in Feasterville, and the other in a PREIT center […]
REITS with a local presence announced earnings this week
A number of REITS announced quarterly earnings in the past week. Here’s a snapshot (thanks to ICSC SCTWeek) from some of the organizations that own grocery-anchored shopping centers in the Philadelphia region. It’s nice to see that the results are generally positive. Federal Realty posted $58.8 million in third-quarter funds from operations, up from $55.6 […]
Whole Foods Posts Sales, Profit Gains
These are some darn good numbers in a challenging economic environment. Well done, Whole Foods. Whole Foods Posts Sales, Profit Gains
Have Costco, Aldi Launched a Real Estate Trend?
I think we will definitely see more of this trend of grocery stores moving in to enclosed shopping malls. With so many empty big boxes in malls (Boscov’s, Strawbridge’s, etc.), it just makes good sense. And I agree with Supermarket News’ contention that moving to a mall is not for every supermarket. Stores like Costco, […]
Analysts question how fast Wal-Mart will grow its smaller formats
There’s plenty of debate about what Wal-Mart will or won’t do, whether their smaller format stores would work, and how smaller Wal-Marts would affect the current players in the supermarket industry. However, I think the most interesting part of the attached article is the idea of Wal-Mart purchasing Rite Aid, which would give it a […]
Stock Analysts Agree: Supervalu Is no ‘Buy’
The fact that all 14 analysts that follow Supervalu (Acme in the Philly market) do not recommend the stock is awful. With Safeway (Genuardi’s) and A&P (SuperFresh, Pathmark) closing stores, let’s hope Supervalu can pull through. Can all 14 analysts be wrong? http://www.businessweek.com/investor/content/nov2010/pi2010111_032839.htm
S&P Cuts A&P to Highest Risk
S&P calls A&P (SuperFresh, Pathmark, Waldbaum’s, The Food Emporium, Food Basics) “highly vulnerable.” S&P Cuts A&P to Highest Risk
Are “Food Deserts” Real or Are They a Scam?
This is an issue with strong opinions on both sides. I’m not knowledgeable enough on the topic to take a position, but here’s what I know. The Pennsylvania Fresh Food Financing Initiative is making a difference in Philadelphia, thanks in large part to Jeff Brown (Brown’s Super Stores). No scam here. Michelle Obama’s $400 Million ‘Food […]
Developers Diversified Ahead of Pace on Goals
Any good news for a REIT like DDR is good news for the shopping center industry. http://www.cleveland.com/business/index.ssf/2010/10/developers_diversified_ahead_o.html
Price Chopper Turns Around Tweeting Mishap
This Price Chopper / Tweeting saga is not a new story, and one would think that the upstate New York-based supermarket would just want it to go away. Not so. They have given the story legs by acknowledging their error and turning it into a case study on social media. And make no mistake about it, it’s also a study […]