Finance & Capital Management

Mahopac, N.Y. -- Heidenberg Properties announced The Stop & Shop Supermarket Company has executed a lease to occupy 54,000 sq. ft. at Lake Plaza Shopping Center in Mahopac, New York.

The new Stop & Shop will be built from the ground up, replacing the existing 24,000 sq. ft. Key Food and the 7,800 sq. ft. CVS. This redevelopment will be more than 25,000 sq. ft. larger than the two existing stores, expanding Lake Plaza Shopping Center from 141,000 to over 166,000 sq. ft.

Sally Beauty Holdings is turning to a 25-year retail veteran to help the company boost sales and drive growth.

Sharon M. Leite has been appointed president of the Sally Beauty Supply LLC, U.S. and Canada business, effective Feb. 1.

Whole Foods had a difficult 2015 that included falling sales and stock value, as well as a pricing scandal. However, as Marketplace Business reports, Whole Foods is looking to regain its footing in 2016 with help from a redesigned, IT-centric customer experience. [Marketplace Business]

Gasoline prices will remain low in 2016, but that doesn’t mean retailers can count on a big windfall from the extra cash left in shoppers’ wallets and there are three key reasons why.

The limited benefit of low gasoline prices to retailers — especially food and mass retailers — is the result of three key factors shaping household spending behavior:

New Hyde Park, N.Y. -- Kimco Realty Corp. announced that Conor C. Flynn, president and CEO, has been appointed to the company’s board of directors effective January 1, 2016, simultaneous with his elevation to the CEO role. Flynn succeeds David B. Henry who retired as vice chairman of the board of directors and CEO on January 1, 2016.

Same-store sales declined 11% at Hhgregg during the company’s third quarter ended Dec. 31 with the retailer of appliances, electronics and furniture citing competitive pressures as the source of weakness.

How will retailers fare in 2016? Very well, according to experienced market watchers.

“We expect core retail sales to grow 5.3% in 2016,” says Scott Hoyt, senior director of consumer economics for Moody’s Analytics, a research firm based in West Chester, Pennsylvania. (Core retail sales exclude volatile revenues from auto sales and gas stations.) That is notably faster than the 4.2% rate anticipated when 2015 sales are finally tallied. The 2015 experience was, again, slightly better than the 3.9% growth of 2014.