Convenience Stores

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.  

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.  

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.

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.   

A new billion dollar merger is reported about to rock the supermarket industry.   Albertsons Companies Inc. is in advanced talks to acquire Price Chopper, a privately held, New York-based regional grocery store operator, for around $1 billion, Reuters reported. Price Chopper operates some 130 stores in the Northeast, including New York, Connecticut and Massachusetts.   

A new report reveals that some big retailers are cracking down on toxic chemicals in consumer products, while others are serious laggards.  

Sheetz is moving forward as planned to implement the changes outlined in the new overtime rule.        

The Wendy’s Company has extended its commitment to reducing energy.   The restaurant chain has joined the Environmental Protection Agency's Energy Star Program and will work to improve energy efficiency through a strategic, corporate energy management program that will enhance the company's energy strategy.