Convenience Stores

Convenience-store operator ramps up store growth
Casey’s General Stores continues to grow its store portfolio. The Iowa-based convenience-store operator currently has 39 new stores, 22 replacement stores, and 37 major remodel stores under construction. Looking ahead, Casey’s has 84 sites under contract for future new store construction and 15 acquisition stores under contract to purchase.
Dunkin’ Donuts has big expansion plans for Dallas
Dunkin’ Donuts is expanding its footprint in Texas. The chain signed multi-unit store development agreements with four existing franchise groups to develop approximately 65 new restaurants in Dallas-Fort Worth and the surrounding area. The new restaurants will include several multi-brand locations with sister brand Baskin-Robbins, the world's largest chain of ice cream specialty shops.

Three-grocer center is sold for $42 million

A subsidiary of NewMark Merrill Companies has acquired Southgate Plaza in Sacramento five years after it was hired by the owner to re-tenant and reposition the center. The 339,369-sq.-ft. Southgate has the distinction of being anchored by three grocery stores — Walmart Neighborhood Market, 99 Ranch Market, and 99 Cents Only. Other tenants include Ross Dress for Less, Skechers, Payless Shoe Source, Farmer & Merchants Bank, and Taco Bell.
Kantar Study: Dollar General and Walmart least expensive

It’s a draw. Dollar General and Walmart tied for the least expensive overall basket, at $27 each, in Kantar Retail's Opening Price Point Study, which seeks to determine how select retailers meet the grocery and consumable needs of shoppers looking for the lowest absolute shelf prices.
Physical stores remain go-to location for cosmetic and grooming purchases

Beliefs that online shopping has replaced brick-and-mortar shopping are exaggerated, especially when it comes cosmetic and grooming purchases, according to a new The Harris Poll.
Commentary: Amazon Go — what it means for Amazon

On Monday, Amazon announced the launch of Amazon Go, a checkout-free convenience store in Seattle. The 1,800-sq.-ft. store is powered by what Amazon calls “just walkout technology,” which combines computer vision, sensor fusion and deep learning technologies. Currently open only to Amazon employees, Amazon Go expected to open to the public in 2017.
Amazon opens a self-driving styled convenience store — with no checkouts
Walmart tests convenience-store format with online grocery pickup service

Walmart has opened a 4,000-sq.-ft. format that offers pick-up of online grocery orders and a convenience store that also sells snacks, beverages and more. The 4,000-sq.-ft. location, in Thornton, Colorado, also has on-site gaso-line station, the Denver Business Journal reported.
In a first, non-family member to take reins at Meijer

Family-owned and operated Meijer is getting a new CEO — and for the first time in the retailer’s 82-year history, it’s not a family member. Effective January 1, 2017, Rick Keyes, president of Meijer, will add the title of CEO. He will replace Hank Meijer, who is stepping down as chief executive and will serve as executive chairman of the board.
S2 Capital has expansion plans for Richmond-area center

McLean, Virginia-based S2 Capital Partners has purchased an 8-acre center on the outskirts of Richmond with plans to build it out to its full potential. The company paid $12 million for the 52,000-sq.-ft. Stonebridge Marketplace, and principal Rob Seidel told Richmond Biz Sense that it plans to add 7,200-sq.-ft. and 8,400-sq.-ft. buildings to fill out the strip that fronts a 123,000-sq.-ft. Kroger Marketplace. Current tenants include Firestone, Panda Express, Mattress Firm, Qdoba, and AT&T.
Gainesville center sold for $2.8 million

University Towne Center in Gainesville, Florida, has been sold at auction to Pacific West Land for $2.8 million. Crossman & Company negotiated the deal on behalf of the seller, a south Florida special servicer. The 18,496-sq.-ft. center is close to the University of Florida campus and to Butler’s sprawling retail complex, which is itself expanding with a town center called The Neighborhoods at Butler.
Food-stamp cuts contribute to Dollar General’s woes in Q3

Reductions in food-stamp benefits and falling grocery prices took a toll on Dollar General Corp.’s third-quarter performance which came in below expectations and included an unexpected drop in same-store sales. The company reported a profit of $235 million, or $0.84 per diluted share, in the quarter, compared to net income of $253 million, or $0.86 per diluted share, in the year ago period. Its profit included a charge of about 5 cents per share for store relocation costs and disaster-related expenses.