Convenience Stores

Target’s annual shareholders’ meeting will be held June 9 in downtown Chicago at the location of a soon-to-open CityTarget store on State Street. The venue is an interesting choice that speaks volumes about the potential for the new urban format.

Philadelphia -- McDonald’s and Wal-Mart Stores are among the Top 20 companies in the world for leadership, taking the No. 6 and No. 8 spots respectively, according to an annual study by global management firm Hay Group. The two chains were the only retailers to make the list.

Woonsocket, R.I. -- CVS Caremark reported Wednesday that profit for the quarter ended March 31 rose 9% to $776 million, compared with $713 million in the year-ago period.

Revenues surged 20% to a record $30.8 billion boosted by rival Walgreen’s termination of its Express Scripts program, which moved Walgreen customers over to CVS. The results beat Wall Street’s expected $30.3 billion in revenue for the quarter.

Same-store sales climbed more than 8%.

Kansas City, Mo. -- Irvine, Calif.-based Passco Cos. announced it has completed the acquisition of Shoppes at Coronado Place I, a 14,534-sq.-ft. strip center in Blue Springs, Mo., two miles from downtown Kansas City.

The purchase price was $4.3 million.

The property is across the street from a Wal-Mart, Home Depot and the new 600,000-sq.-ft. Adams Dairy Landing power center, anchored by Target.

Griffin, Ga. -- The Kroger Co. and Collins & Arnold said they have broken ground on Phase II of Griffin Pavilion, a retail development located in Griffin, Ga., and developed by The Sofran Group.

The final phase of the project will consist of a 94,000-sq.-ft. Kroger with an 18- pump Fuel Center.  The grocery store site will include 20,000 sq. ft. for future expansion.

Phase I of Griffin Pavilion was completed in 2004 and includes a Lowes Home Center, O'Reilly Auto Parts and Wells Fargo bank.

St. Charles, Mo. -- Peoria, Ill.-based Cullinan Properties announced that The Art Institute of St. Louis has signed a lease and will be opening a school at the new Streets of St. Charles mixed-use development, with classes scheduled to begin in July.

The development, located in St. Charles/Metro St. Louis, is currently delivering spaces to all of its phase one tenancy.

The Art Institute of St. Louis is one of The Art Institutes, a system of more than 50 educational institutions located throughout North America.

ASHEVILLE, N.C. — Net sales for Ingles Markets experienced a spike during the second quarter and first half of fiscal year 2012, the retailer reported Monday.

San Jose, Calif. -- Retail clinics and big-name medical centers are poised for dramatic expansion, according to two well-known speakers at the American Telemedicine Association's annual meeting in San Jose this week.

Dallas -- The Food Marketing Institute (FMI) announced that it has entered into a strategic business partnership with TopSource LLC, a sourcing company and wholly owned subsidiary of Topco Associates LLC. FMI said the partnership will provide its members the opportunity to support the foundations of their growing businesses with significant savings related to costs in not-for-resale areas.

Macon, Ga. -- Westwood Financial Corp., one of the nation’s largest owner-operators of shopping centers, has purchased Wesleyan Station, an 86,631-sq-.ft, retail center in Macon, Ga., for $8.9 million from a private seller.