Convenience Stores

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.

Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.  

Camp Hill, Pa. – The temperature wasn’t the only thing rising at Rite Aid stores during July 2015.

Same-store sales rose 2.4%, with front-end same store sales increasing 0.1%. Pharmacy same-store sales, which included an approximate 2.21% negative impact from new generic introductions, increased 3.4%.

Dallas - 7-Eleven Inc. is taking its business to Vietnam.

The company has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven stores in Vietnam, with the first stores expected to open in 2017. Seven Systems plans to construct 7-Eleven stores, convert existing locations to the 7-Eleven brand supported by enhanced infrastructure, and eventually franchise operations to local businesspeople.

Pittsburgh – GNC Holdings Inc. missed Wall Street expectations for profit and revenue in a generally disappointing second quarter of fiscal 2015. GNC reported net income of $67.4 million, a decrease of 4% from $69.9 million for second quarter 2014.

Cost of sales increases were a key factor in reduced net income. GNC reported consolidated revenue of $678.5 million, an increase of 0.5% as compared with $675.2 million. Revenue growth was limited by a 2.8% same-store sales drop in company-owned stores, including GNC.com.

Milford, Conn. -- It’s getting harder and harder to keep track of all the activity in the mobile ordering and mobile payment space. The latest big announcement comes from Subway.

The fast-casual restaurant giant announced on Thursday new updates to its mobile app and website that include more mobile payment options, along with giving customers the ability to order on-the-go. Subway said it is adding PayPal as an option customers can use to pay for meals when they order remotely or pay in-store using the Subway app’s mobile payment feature.

Supervalu Inc. said it is considering spinning off its Sav-A-Lot stores into a separate business as the discount chain reported a big earnings increase for the first quarter.

Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year. Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.

Minneapolis – Supervalu Inc. beat Wall Street expectations for profit in the first quarter of fiscal 2016 and also announced it is considering spinning off its Save-A-Lot grocery banner. Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year.

Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.

Woodland Hills, Calif. – A good politician knows to focus locally, and increasingly retailers are following that lead. In that spirit BrightStreet Ventures, the technology affiliate of shopping center developer NewMark Merrill Companies, has launched BlueList, a real-time mobile offers service for local merchants and nearby consumers.