Convenience Stores

Coney Island project signs CVS and Apple Bank
Neptune/6th, a redevelopment of the former site of Trump Village Shopping Center and the Royal Palace Baths in Brooklyn’s Coney Island section, has secured leases from CVS and Apple Bank as it looks toward a summer 2017 opening of its first phase. Cammeby’s is the developer. That phase will include 161,000 sq. ft. of retail, office, and parking in a standalone space across from the old Trump Village site. Three further phases will add 165,000 sq. ft. of retail and parking and a 575-unit residential tower.
Study: Apple Pay usage soars with digital targeted POP messaging
Apple Pay may be transforming mobile payments, but digital targeted messages spur more shoppers’ willingness to pay with their devices. This message was delivered in a study from USA Technologies. The report measured the impact of targeted digital advertising screens on consumers’ use of mobile wallets – primarily Apple Pay. The impact of 35 vending machines located in New York and Louisiana were measured over a six-month period, between March and August 2016.

Walmart Q3 earnings top forecasts but sales lag; online accelerates

Walmart on Thursday posted third-quarter earnings that managed to beat analysts' expectations even as net sales fell short. The retailer also lifted the lower end of its full-year guidance and expressed confidence going into the holiday season. Walmart’s net income fell to $3.03 billion, or 98 cents per share, in the quarter ended Oct. 31, which was two cents more than the Wall Street consensus according to Bloomberg.
PetSmart reaches store milestone

PetSmart continues to expand its brick-and-mortar presence across North America. The company has opened 1,500th store, in Sheridan, Colorado. The location is one of approximately 80 new stores the pet specialty retailer is opening in 2016 in new markets as well as in convenient locations in current markets.
Nicole Beck joins H.J. Martin as project coordinator

Nicole Beck, a skilled project management specialist, has joined H.J. Martin and Son as a project coordinator within the company’s fixtures division. In that role, she oversees the installation of functional, appealing solutions for retailers.
Regency Centers, Equity One merge in $15 billion deal

Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust. The combined company is expected to have a total market capitalization of approximately $15.6 billion.
Gainesville’s Butler North tops off with Total Wine

The Butler North component of Butler Enterprises’ massive retail complex in Gainesville, Florida, brings itself close to 100% occupancy with next week’s opening of Total Wine & More. The 20,000-sq.-ft store is the latest in a series of new store openings at the center. Also debuting there over the past four months were Walmart Supercenter, Aldi, Marshalls, Payless Shoe Source, and Dollar Tree.
Minimum wage hikes approved in four states

Retailers and other employers of minimum-wage earners can expect to see their labor costs go up in four states. Voters in the states of Colorado, Maine, Washington, and Arizona all approved measures to raise their state’s minimum wage in Tuesday’s election. The biggest hike will be in Maine, where the minimum hourly pay will increase from $7.50 to $12 by 2020, and later increasing with inflation.
New pads planned for NRDC properties in New Jersey

National Realty & Development Corp. has announced that new pad buildings will begin going up at two of its centers in New Jersey. McDonald’s will enter Liberty Square Center in Burlington with a newly constructed 3,911-sq.-ft. store on one of the property’s outparcels. The 380,383-sq.-ft. Liberty Square is anchored by Walmart Supercenter, Acme, Marshalls, and Toys “R” Us.
Dollar General to debut convenience-store format

Dollar General is planning to unveil a smaller-store concept designed around convenience. The new format, reportedly to be called DGX, is due to open in early 2017, with a unit in downtown Nashville, and another in Raleigh, North Carolina.
S.O.S.: The Mobile App as a Lifeline for Brick-and-Mortar Retailers

Consumers gravitate towards convenience for the things that they have to do anyway. They want to get to their intended action with the least amount of unnecessary effort. They’ll even change their behavior to do so. Think of mobile deposits: many consumers have made the switch to using their bank’s mobile app to deposit checks, finding it far more convenient than driving to their local branch or ATM.
CVS reports solid third quarter but warns of lower profit

Strong results in its PBM business provided a boost during CVS Health’s fiscal third quarter, with the retailer reporting a 23.6% increase in net earnings to $1.5 billion. Revenue increased 15.5% to $6 billion for the period ended Sept. 30.