Convenience Stores

Starbucks Corp. is still hot for tea, but it’s not feeling too warm and cozy about its Teavana "tea bar" format, which debuted in New York City about two years ago. The concept sought to elevate the tea-drinking experience, much the way Starbucks did for coffee, and featured an array of tea-related beverages and food items in a comfortable environment that encouraged people to linger.

The Grocery Manufacturers Association has recognized the CEO of Hy-Vee Inc. with a collaborative leadership award.

Randy Edeker, chairman, CEO and president of Hy-Vee, Inc. was honored ths month with the GMA 2016 Industry Collaboration Leadership Award. Hy-Vee operates 240 stores throughout eight predominantly Midwestern states.

Farmingdale, New York -- Kimco Realty Corp. announced that Stew Leonard’s has opened its newest location at Airport Plaza shopping center in Farmingdale, New York. The new 60,000 sq. ft. store will be located across from the existing Stew Leonard’s Wines of Farmingdale store.

The Farmingdale location is home to Stew Leonard’s fifth store and first grocery store location on Long Island.

After relinquishing the CEO role last year, Dollar General chairman Rick Dreiling will complete a previously announced leadership transition on Jan.

Retailers are generally optimistic about 2016, with such factors as low gas pricing and the housing market uptick working in the industry’s favor.

That’s according to a survey of store managers by real estate services firm Levin Management, which has 95 properties in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina. Several industry sources have also expressed a positive outlook, including Kiplinger, which anticipates retail will grow approximately 4% this year, and Trading Economics which expects 3.6% growth.

The Southeast’s leading supermarket operator will give new meaning to its tag line “where shopping is a pleasure” when it opens a new small format on the campus

San Antonio, Texas -- InvenTrust Properties Corp. announced that it has acquired Sonterra Village Shopping Center, a newly constructed, 42,492 sq. ft. shopping center located in San Antonio, Texas, for approximately $21.5 million.

Starbucks Corp. reported first quarter earnings and same-store sales that topped expectations. But the coffee giant gave a soft earnings outlook for its current quarter.

Starbucks reported better-than-expected earnings of $687.6 million for the period ended Dec. 27, 2015, down from $983.1 billion a year earlier. The prior-year period was boosted by a hefty $391 million gain related to a joint venture.

Revenue rose 12% to $5.37 billion. Analysts had forecast $5.39 billion in revenue.