Whole Foods reports “best results in history”
Last week Whole Foods Market reported another outstanding quarter, “producing the best results in our company’s 32-year history,” according to Co-CEO John Mackey. For the quarter ended April 8, 2012, Whole Foods reported a profit of $117.7 million, a 31% increase over the same quarter last year. They also reported the following: Sales up 14% […]
Weis posts strong earnings, Bottom Dollar exceeding expectations
Weis Markets said yesterday that improvements in store productivity and cost controls contributed to net earnings of $20 million for its fiscal first quarter, an increase of 7.7% compared to the same period last year. In addition, sales increased 0.3% to $661.6 million, and comparable store sales improved by almost 1%. On the other hand, […]
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 […]