Convenience Stores

Memphis, Tenn. - Fred's Inc. total sales for November 2014 increased 2% to $154.3 million from $151.2 million in November 2013. Same-store sales for the month decreased 2.3% compared to flat sales in the same period last year.
Fred’s said that same-store sales were in line with previously issued guidance and that the decision to close stores Thanksgiving Day pushed same-store sales from flat to negative growth.

Many retailers opened on Thanksgiving this year but regional discounter Fred’s remained closed and the impact of that decision was evident when the company reported a 2.3% decline in November same store sales.

Fred’s stores were open on Thanksgiving Day last year, but the operator of 702 stores closed its stores this year which made for a challenging comparison against the prior year period.

Brand-building expert and consultant Denise Lee Yohn has released her annual outlook for the year,  “Brands to Watch in 2015.”

Huntsville, Alabama - GBT Realty Corp. announced the expansion of Strong Station, a 180,000-sq.-ft. neighborhood center in Huntsville, Alabama, currently tenanted by Academy Sports + Outdoor. Nearly 96% leased, the $16-million Phase II adds 95,000 sq. ft. of retail on nine acres to the east of the existing sporting goods store.      

Irvine, CA – Food producer Systopia International has recently upgraded its payment technology within the dining area of its new Green Bay, Wis. facility. Working closely with in-house caterer Aramark, Systopia designed a cashless payment solution based upon using staff security RFID badges as the cashless credentials.  

Hollywood, Fla. – Altpay, a startup mobile payment company that released its patent-pending technology in April 2014, has received a $1 million equity investment from two family office investors. Altpay markets its mobile payment service in the U.S. to regional and mid-market retailers, including supermarkets, grocers, pharmacies and convenience stores.

Philadelphia - Investors are feeling bullish on upcoming retail opportunities in Philadelphia, and it’s evident as JLL’s Capital Markets experts announced the sale of One and Olney Square on behalf of BLDG and The Feil Organization. Wharton Realty Group purchased the center.

Anchored by ShopRite, the community shopping center totals 339,784 sq. ft. and includes tenants such as Dollar Tree, Modell’s and Burger King.

Mississauga, Canada -  Walmart Canada is adding 33 Grab and Go lockers in the greater Toronto area.  The lockers allow customers to buy online then pick up their items in stores.   The retailer installed its first set of lockers at 10 locations in the Toronto area in August. The announcement follows a series of initiatives Walmart Canada has launched in the past year to accelerate its e-commerce program.