Convenience Stores

Overtime Pay
Retailers are facing a growing onslaught of lawsuits from current and former managers and assistant managers who claim their employers should have paid them for overtime under the Fair Labor Standards Act (FLSA). The managers’ assert that much of what the work managers and assistant managers do is not truly managerial and, therefore under the FLSA, they should not be exempt from receiving overtime pay for any time worked over 40 hours in a week.
Casey’s reveals $31.5 million tax error; plans 72-108 new stores
Ankeny, Iowa – Casey’s General Stores Inc. will revise its financial statements for fiscal years 2012, 2013 and 2014 and the first quarter of fiscal year 2015, due to a $31.5 million error in how it accounted for excise tax on sales of ethanol fuel. The retailer also stated a fiscal 2015 goal of building or acquiring 72-108 new stores and replacing 25 existing stores.

Fred's Super Dollar reports Q3 loss

Fred's Super Dollar has reported total sales for the third quarter of $476.2 million, up 3%. However, Fred's net loss totaled $10.4 million, or minus 28 cents per diluted share, compared with net income of $7.3 million, or 20 cents per share in the year-ago period.
Food Lion selling canned wine

Wine with screw top lids was bad enough for purists, now retailers are filling their shelves with wine-based products package in cans.
Dunkin’ Donuts on a tear with 63 new sites planned for San Francisco area

CANTON, Mass. - Dunkin’ Donuts continues its aggressive expansion with the signing of multi-unit store development agreements with five franchise groups for a total commitment of 63 new restaurants in the greater San Francisco Bay Area, Palm Springs and Bakersfield over the next several years.
Wal-Mart names former American Airlines CEO to board

Bentonville, Ark. – Wal-Mart Stores Inc. has appointed Tom Horton, former chairman and CEO of American Airlines, as a new member of the company’s board, effective Nov. 21. Horton became the 16th member of the Board and will also serve as a member of the company’s Audit Committee.
And the 10 biggest myths of holiday spending are….

New Canaan, Conn. - Count on Customer Growth Partners president and CEO Craig Johnson to provide a refreshing break from the standard Black Friday forecast. Here’s his take on the top 10 retail-related holiday myths of 2014:
Aldi goes into high growth mode; will open 650 U.S. stores by end of 2018

BATAVIA, Ill. - Deep-discount grocer Aldi is ramping up its U.S. expansion. The company plans to open 650 new stores across the country, including expanding to Southern California, bringing its total number of U.S. stores to nearly 2,000 by the end of 2018.
RPAI acquires Avondale Plaza

Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets. The purchase price was approximately $15 million.
Survey: Shoppers will find best Black Friday discounts at J.C. Penney

New York - J.C. Penney, Macy’s, Rite Aid, Meijer and Sears rank as the best retailers for Black Friday deals, according to a survey by personal finance social network WalletHub. The survey shows that Penney has the highest overall discount rate at 65%, while Big Lots, at 24%, and Costco, at 21%, have the lowest. WalletHub surveyed 5,525 deals from the 2014 Black Friday ad scans of 21 of the biggest U.S. retailers. Here is a quick summary of some of the key findings.
Dollar Tree beats Street in Q3; starts holiday sale Nov. 23

Goodlettsville, Tenn. – Dollar Tree Inc. beat Wall Street predictions for profits and sales in a generally strong third quarter of fiscal 2014. Net income rose 6% to $133 million from $125.4 million. Consolidated net sales increased 11% to $2.1 billion from $1.88 billion and consolidated same-store sales increased 5.9%.
Apple Pay expands presence in supermarkets to include Bi-Lo, Shaw’s, Jewel Osco and more

New York - Apple is expanding its Apple Pay across hundreds of supermarkets. Associated Food Stores, Shaw's Supermarkets, Jewel Osco, Albertson's and Bi-Lo Holdings have joined Whole Foods Markets, which was one of the original Apple Pay launch partners, to accept the new payment option. Bi-Lo Holdings, parent company of Bi-Lo, Harveys and Winn-Dixie grocery stores, said it is now suporting Apple Pay across its entire southeastern footprint.