Convenience Stores

Ross Stores remains among the nation’s most expansion-minded retailers.     The company  is opening a total of 24 Ross Dress for Less stores and seven dd's Discounts stores across 15 different states in June and July. The openings are part of the company's 2016 expansion plans, which call for the opening of approximately 70 Ross stores and 20 dd's Discounts locations throughout the year.   

U.S. retailers ended spring with a small but notable improvement in financial performance.   According to new data from the U.S. Census Bureau, adjusted advance estimates of U.S. retail and food services sales for June were $457 billion. This represents an increase of 0.6% from the previous month, and 2.7% higher than June 2015.  

The National Retail Federation (NRF) is publicly supporting legislation that would phase in the Labor Department’s new overtime regulations.  

Consumers who purchase at off-price retail outlets are a growing group.   According to the latest Checkout Tracking data from global information company The NPD Group, two-thirds of all consumers shop at off-price retailers. Checkout Tracking analysis, which analyzes receipts and follows consumer purchasing behavior, also shows off-price buyers represent 75% of apparel purchases across all retail channels.  

As their merger enters the home stretch, Delhaize Group and Ahold have reached agreements with buyers to divest 86 U.S. stores.   The two international companies announced their intent to combine forces back in June 20115. The merger is set for completion at the end of July, pending final approval by the Federal Trade Commission.  

Toronto-based general merchandise retailer Canadian Tire Corp. has made a sudden shift at the top of the company’s executive structure.   Stephen Wetmore, who previously served as CEO of Canadian Tire from 2009-2014, has been named president and CEO of the company, effective immediately. Wetmore, who has remained on the board of directors after leaving the CEO post, will remain a director of the company but step down as deputy chairman of the board.  

If Rite Aid needs to shed some stores for antitrust reasons in the wake of a merger with Walgreens-Boots Alliance, many experts expect one well-known drug store to step forward. 

Durham, North Carolina-based conglomerate The Guess Corp. is seeking to acquire at least 1,000 U.S. convenience store/ gas station units in the next 12 months.   Working through a subsidiary, the company is looking to acquire an average of 100 branded and unbranded units per month. Upon completion of the purchases, Guess Corp. intends to re-brand and renovate the properties with innovative and sleek designs and provide enhanced CRM technology. The company has invited brokers to provide buyer representation with higher commissions.