Convenience Stores

Fred’s Inc. named Craig Barnes, executive VP of supply chain, global and domestic logistics, to the newly created role of COO — front store.    In his new role, Barnes will be responsible for merchandising, marketing, supply chain, store operations and real estate, and will report directly to CEO Michael K. Bloom.    

Convenience stores stand to benefit the most from a greying population. That’s according to new report from Fung Global Retail & Technology which looks at the impact of the growing 65-and-over population on global economies, industries and retail.   

On the heels of the biggest deal in its history, Canada’s Alimentation Couche-Tard Inc. has entered into yet another deal to expand its U.S. footprint.   The retailer has signed an agreement to buy 53 stores in Louisiana, primarily in the Baton Rouge market, from American General Investments and North American Financial Group for an undisclosed price.    

Photo: Steelblue   There’s a reason that dining and entertainment destinations are the key success components at retail centers these days: They are e-commerce-proof, the two marketplace options that continue to draw traffic and post upward-trending numbers. Spending at restaurants has grown faster than any other retail category since the recession, according to the Commerce Department, pushing dining dollars past grocery dollars for the first time.  

Quik Mart Stores has made the move to LED lighting.      The Tucson, Arizona-based convenience store/gas station chain replaced the existing fluorescent and HID interior and exterior lighting with solid state LED lighting at 25 locations in the Tucson market.     The retrofit was completed by SCS Energy Solutions Corp.’s SCS Lighting Division, which also developed a solution for beverage and freezer cooler lighting, as well as enhancing existing merchandise displays.  

GameStop Corp.’s revenue fell short of expectations in the second quarter as a lack of new game titles cut into its core business.   Sales fell 7.4% to $1.63 billion in the quarter ended July 30. Same-store sales fell 10.6 %.    Net income rose 10% to $27.9 million, in line with Wall Street projections.  

Various forms of online sales tax legislation have been introduced in Congress over the past 15 years but none have won passage. And now there is a new proposal.     

A little over one year since it acquired rival Family Dollar, Dollar Tree reported revenue that missed Wall Street expectations amid lower customer traffic.     Dollar Tree and other discounters are also feeling the impact of a recent change by some states regarding the criteria for the Supplemental Nutrition Assistance Program (SNAP), which has made thousands of households ineligible for benefits.      

Dollar General Corp. reported lower-than-expected revenue for the second quarter amid increasing competition and reduced food stamp coverage.   The company’s net income was $306.52 million, or $1.08 per share, in the quarter, compared to net income of $282.35 million, or $0.95 per share, in the year-ago period.   Net sales increased 5.8% to $5.39 billion, compared to $5.10 billion last year.   

Los Gatos Village Square

Location: 15466 Los Gatos Boulevard, between California Highways 85 and 17 in Los Gatos, California

Size: 46,235 sq. ft.

Developer: Donahue Schriber Realty Group

Grocery anchor: Trader Joe’s

Key tenants: Pet Food Express, See’s Candies, The UPS Store, AAA Automobile Club, Baja Fresh Mexican Grill