Convenience Stores

Tips for Complying with the New Overtime Rules
In response to public concern that wages at the low end of the pay scale were slow to rise, particularly for store managers and assistant store managers, the United States Department of Labor (DOL) updated the Fair Labor Standards Act (FLSA) regulations defining which white collar workers must be paid overtime pay. The DOL estimates that more than 4 million employees nationwide who are not currently paid overtime will now have to be paid overtime, and the majority of those will be employees of retail stores and restaurants.
Walgreens struggling to sell stores
Walgreens is ready to shutter up to 1,000 stores, but no one is biting. In accordance with the closing of its deal to purchase Rite Aid, the Walgreens Boots Alliance must sell or close between 500 and 1,000 of its stores. However, there is a lack of interest among private equity firms, according to an Investopedia article. Walgreens still expects to move forward with the Rite Aid acquisition, which is slated to close in the second half of this year, the article said.

Report: EU shoppers demand better online fulfillment

European online shoppers continue to be intolerant of poor service. As a result, retailers need to step up their game regarding shipping and fulfillment if they want to keep shoppers happy, according to the “JDA/Centiro Customer Pulse Report Europe 2016.” The study surveyed 8,190 adults online across the U.K., Germany, France and Sweden to learn their online shopping requirements.
New top dog at Petco

Petco is losing its longtime chairman and CEO. Jim Myers, a 26-year company veteran and CEO since 2004, is retiring. Petco pesident and chief merchant Brad Weston, who joined the company in 2011, will succeed Myers as CEO, effective February 1, 2017. Prior to joining Petco, Weston held senior leadership roles at Dick's Sporting Goods, May Merchandising Company and Robinsons-May.
Phillips Edison buys Jacksonville Center for $25 million

Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal. The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.
Executive moves at Publix

Publix Super Markets has promoted Bob McGarrity, director of construction, to VP of facilities. McGarriity replaces 42-year company veteran Dave Duncan, who has announced his decision to retire effective Dec. 31, 2016. In other appointments, VP of real estate Jeff Chamberlain will be promoted to senior VP, overseeing real estate and facilities, effective Jan. 1, 2017.
Online grocery competition to heat up

One of the country’s oldest online grocers just secured a major cash infusion to help it expand its services. FreshDirect has received a $189 million investment, led by JPMorgan Asset Management, that will be used to launch its grocery delivery service in more cities, to expand new business units and incubate others, reported RECode.
And the retailers adding the most new store space are…

Dollar stores and off-price chains account for half of the spots on a list of 10 retailers adding the most new store square footage, according to commercial real estate and analytics firm CoStar. Walmart tops the list, followed by Dollar General and Forever 21, according to a report by the Chicago Tribune. Click here to read more.
Dunkin’ Donuts nabs McDonald’s veteran for executive role

A longtime McDonald’s veteran has joined the fast-growing Dunkin’ Donuts. Dunkin' Brands Group, parent company of Dunkin' Donuts and Baskin-Robbins, announced that David Hoffmann has been appointed president of Dunkin' Donuts U.S. and Canada, effective Oc. 3.
Report: 7-Eleven plans major expansion

The parent company of 7-Eleven wants to more than double its store portfolio in the United States. Seven-Eleven Japan Co. is looking to open thousands of new stores in the U.S., increasing its current total of approximately 8,500 locations to 20,000, The Japan Times reported.
Fox named VP at Divaris

Photo: George Fox Divaris Real Estate has named George Fox VP of sales and leasing at its Virginia Beach office. He will represent both landlords and tenants in North Carolina and Virginia, with a primary focus on the Hampton Roads market.
Party City jumps on seasonal hiring of a different variety

While most of the industry is focused on the upcoming holiday season, Party City has bigger fish to fry — hiring for Halloween. To prepare for the retailer’s make-or-break season, the chain will hire an additional 35,000 employees nationwide over the next four weeks.