Convenience Stores

99 Cents Only Stores has appointed a new CFO who has been a veteran retail leader for Kroger and Albertsons.

A private equity group better known for investing in established companies is creating a new dollar store brand after acquiring 330 Family Dollar stores from Dollar Tree.

Dollar Tree acquired Family Dollar earlier this year and to satisfy federal regulators, the company agreed to divest 330 Family Dollar stores. The acquiring company is a newly created portfolio company of the private equity firm Sycamore Partners called Dollar Express.

New York -- The Feil Organization announced the completion of Nassau Mall and Kohl's Plaza complex renovation in Levittown, New York. The renovation consisted of a new façade and re-tenanting the centers, which resulted in four new leases totaling approximately 11,000 sq. ft. and 100% occupancy at both centers.

A major national retailer is the latest chain to start offering same-day delivery in a large metropolitan area.

According to Re/code, Best Buy is partnering with third-party delivery service Deliv to offer customers in the San Francisco area, including San Jose, same-day delivery of online orders. The official rollout follows a recent pilot of the service Best Buy conducted with Deliv in the greater San Francisco area.

Texture Plus, the largest U.S. manufacturer of high-impact textured faux wall panels, urged the United States Senate and House of Representatives to quickly pass the “Restaurant and Retail Jobs and Growth Act.”

“Retailers and restaurants depend on remodeling their locations every five years to stay competitive,” said Brian Kampe, CEO. “The standard 39 year depreciation for building remodeling makes those improvements a difficult tax burden.”

For the third quarter ended Sept. 30, CVS Health reported $38.6 billion in net revenues, representing an increase of 10.3%. Revenues across the Pharmacy Services Segment increased 13.3% to $25.5 billion, primarily driven by growth in specialty pharmacy and pharmacy network claims.

“We delivered solid revenue and operating profit growth across our businesses, and we continue to expect significant growth in the fourth quarter, rounding out another terrific year for our company,” Larry Merlo, CVS Health president and CEO, said.

The pharmacy services segment helped CVS Health post a $10.3% increase in net revenue in the third quarter.

A retail real estate firm has confirmed that Target is in the final planning stages for two new stores in the Center City section of Philadelphia.

The two stores will be what the company calls a “flexible format Target,” which has a smaller footprint than a typical Target store and looks to fit into the (mostly urban) neighborhoods in which they are located.