RUNNING WITH EQUITY RETAIL

WITH DAVID GOODMAN

David Goodman | Aug 15, 2012 |

S&P raises Whole Foods rating to investment grade

Last week S&P raised their corporate credit rating on Whole Foods to “BBB-,” or investment grade. Based on S&P’s expectation that strong sales and profit growth will continue at Whole Foods, they issued a “stable” outlook. According to S&P, “Whole Foods has enhanced credit protection measures with considerable profit growth reflecting higher comparable-store sales and […]

David Goodman | Aug 15, 2012 |

Zagat looking for feedback on The Pub at Wegmans

Last week Zagat, the self-proclaimed world leader in providing survey-based information for restaurants, blogged about The Pub at Wegmans, which is now open in Malvern, King of Prussia and Collegeville, PA. The brief blog post described some of the pub’s selections, including crabcake sandwiches and Australian lamb chops, and asked for customer comments. I didn’t […]

David Goodman | Aug 15, 2012 |

Pension risks run high for supermarket companies

According to a report released earlier in the week by Fitch Ratings, the “big three” supermarket chains face the largest risk of all U.S. businesses for cash flow and earnings problems due to underfunded pension plans. Fitch Ratings says that Supervalu, Safeway and Kroger’s pension plans are significantly underfunded. The ratings company also states that […]

David Goodman | Aug 02, 2012 |

NJ's first Walmart supermarket coming to Hawthorne

NorthJersey.com reported last week that the first Walmart Neighborhood Market in New Jersey will be in Hawthorne. According to the story, Walmart signed a lease for 42,000 square feet at 204 Wagaraw Road, and the property will include additional retail. The story describes Hawthorne as a middle class suburban town about 16 miles from New […]

David Goodman | Aug 02, 2012 |

Whole Foods and Weis Markets report net earnings increases

Whole Foods and Weis Markets both reported increases in net earnings last week. Whole Foods: Net income for the third quarter was up 32% compared to the same period one year ago, driven by an 8.2% gain in same-store sales, according to the company. Net income for the quarter was $116.8 million, and sales were […]

David Goodman | Jul 31, 2012 |

Wynnewood to get new Whole Foods store

Last week Whole Foods announced (on its Facebook page) that it would replace its 16,500 square foot Wynnewood, PA store with a new 45,000 square foot facility around the corner. Developer WP Realty expects the store to open in the summer or fall of 2015.

David Goodman | Jul 31, 2012 |

Supervalu fires CEO

Craig Herkert, Supervalu’s CEO since May 2009, was fired yesterday and replaced by Board Chairman Wayne Sales. Herkert had been under fire by industry experts and journalists for much of his tenure at Supervalu (Acme, Save-A-Lot in the Philly region), and last week the company made news for its announcement that it would explore selling […]

David Goodman | Jul 24, 2012 |

Save-A-Lot COO leaving, store operators are worried

As if Supervalu isn’t having enough trouble with its traditional supermarkets, results at the company’s star performer, discount grocer Save-A-Lot, are sagging as well. According to a recent Supermarket News story, licensees say higher costs and a lack of leadership at Supervalu are to blame. The latest blow for Save-A-Lot and its licensees is the […]

David Goodman | Jul 24, 2012 |

Wawa opens first Florida store

The first Wawa in the state of Florida opened last week in Orlando, and as many as 100 may open in the state over the next five years. For now, residents of Orlando can expect a new Wawa every week for the next five weeks. A store in Tampa is slated to open next year, […]

David Goodman | Jul 24, 2012 |

Supervalu shareholder mad about CEO's bonus, threatens lawsuit

A Supervalu shareholder with about 45,000 shares asked CEO Craig Herkert, who accepted a $950,000 bonus but whose company is eliminating its dividend and reeling from poor performance, to show his commitment to stakeholders by cutting his salary to $1 for the next two years. Herkert declined, and the shareholder said a class-action lawsuit for […]

David Goodman

David leases high-quality shopping centers, represents select retail clients and sells vacant bank properties.

Call David