Finance & Capital Management

It’s been a long time, but Rite Aid Corp. is opening a new distribution center.

Located in Spartanburg, South Carolina, the facility is the company’s first new distribution center in 16 years. Rite Aid is currently awaiting regulatory approval for a proposed $17.2 billion merger with Walgreens Boots Alliance.

Ahold USA first quarter sales were up 4% to $8.2 billion. Excluding gas, sales increased 4.1% at constant exchange rates. The addition of 25 A&P stores in the New York Metro market in fourth quarter 2015 was the main contributor to the overall sales growth and resulted in an overall market share improvement in both dollars and volume, Ahold reported.

The 95-year old co-founder of the North Carolina-based supermarket chain that became Food Lion has died at the age of 95.
 
Ralph Ketner and two others in 1957 founded Food Town, which changed its name to Food Lion in 1982.  

First, the good news: A strong retail sector is helping to drive 2016 U.S. construction activity, with retail construction projects up 24.4% year-over-year.

That’s according to JLL’s latest report on non-residential U.S. construction activity. On the less positive side, the report noted there is a cloud of economic uncertainty, which has companies laser-focused on lean budgeting and smart spending decisions.

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.
 

Five Below is expanding at a fast clip this year.

The extreme-value brand for pre-teens and teens will open its first store in Oklahoma, in Oklahoma City, on June 3, 2016.  

A second store Oklahoma, in Edmond, will open on June 24, 2016.

The Philadelphia-based chain is one of the fastest growing retailers in the country. It plans to open approximately 85 new stores in 2016, up from 71 stores in 2015.
 

Office Depot Inc. is regrouping less than a month after a federal judge blocked the chain’s planned acquisition by rival Staples Inc., causing the two companies to abandon the deal.
 
On Tuesday, Office Depot announced its board had approved a $100 million stock buyback program. The retailer also said it is finalizing its comprehensive strategic review, which includes capital structure and return of capital alternatives.
 

Nordstrom has opened its second full-line store In Toronto.   The department store retailer opened a three-level, 199,000-sq.-ft. store at Yorkdale Shopping Centre on Oct. 21. It is the company's second location in Toronto, with the first, at CF Toronto Eaton Centre, opening in September.