Kimco called the best blue chip REIT by Seeking Alpha
A Seeking Alpha article earlier this week said that “many investors… will want to own blue chip REITs,” calling them a “financially sound, ‘safe’ investment.” The article went on to use Kimco, the “king of the jungle” in the retail sector with 946 properties overall, including many in the Greater Philadelphia region, as an example […]
Weis Markets reports strong quarterly and year-end results
It’s been a busy day for Weis. Not only did they announce the purchase of three Genuardi’s stores in Pennsylvania, but they also announced their quarterly and year-end results. The Genuardi’s news can be found in more detail here, and below is a short summary of their financial results. Sales increased 11.4% for the 14-week […]
Weis to buy three PA Genuardi’s stores
PA-based Weis Markets, which operates 161 stores in five states, announced in a press release earlier today that it was buying three Genuardi’s supermarkets in Pennsylvania. The locations are Conshohocken, Doylestown and Norristown (Germantown Pike). No sale price was disclosed, and Weis said the stores would continue to operate as Genuardi’s while the deal was […]
DDR to help small businesses through new program
DDR, owner of more than 500 shopping centers in 41 states, Puerto Rico and Brazil, announced last week the launch of Set Up Shop, an incubation program for retailers. Through this new program, the company hopes it will help create a new generation of small-shop tenants for its centers. According to DDR’s press release, Set […]
Supervalu cutting 800 office positions this month
Less than a month after reporting a $750 million quarterly loss and having its Fitch Rating downgraded to B, Supervalu (Acme & Save-A-Lot in the Greater Philly market) announced yesterday that it would eliminate approximately 800 corporate and regional office jobs by February 25. The company is in the midst of a strategy to deliver […]
Giant buys two supermarkets in the Baltimore area
Giant said last week that it has reached an agreement with Natural Market Restaurant Group to buy two Fresh & Green’s stores in the Baltimore area. Both stores were among the eight Fresh & Green’s branded stores that Natural Market Restaurant Group bought from A&P last year. The transaction could close as early as tomorrow, […]
Warm January favored restaurants, not supermarkets
According to Planalytics, this January in the Philly area was the third warmest in the last 50 years. The weather favored restaurants and “broadline sellers and home improvement retailers, and punished softline retailers selling winter apparel.” The company said it was a mixed bag for supermarkets, who experienced less “pantry loading” than last year without the […]
ShopRite, with $1.7 billion in sales, leads Philly market in 2011
Last Friday the Philadelphia Business Journal published the list of top companies in Philadelphia’s eight-county area selling groceries, health- and beauty-care products, general merchandise and tobacco products, as compiled by the Food Trade News. Here’s the list: 1. ShopRite – 43 stores with sales of $1.7 billion 2. Acme – 69; $1.57 billion 3. Giant […]
Fourth quarter sales up 5% at Ahold USA
Giant and Stop & Shop parent Ahold USA reported that fourth quarter sales were up 5% compared to the same period one year ago. Total sales for the company’s three divisions – Stop & Shop, Giant-Landover and Giant-Carlyle – were $5.9 billion for the quarter. For the full year, Ahold USA sales increased 6.6% to […]
Wegmans leads supermarkets on Best Companies to Work For list
Four supermarket retailers were named to the annual 100 Best Companies to Work For list published last week by Fortune Magazine. Wegmans ranked fourth on the list, followed by Whole Foods Market at #32, Nugget Market (CA) at #34, and Publix Super Markets at #78. Google topped the list, which also included retailers REI (#8), […]