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C-store total poised to surpass 150,000 units
New York -- The latest data from Nielsen shows the number of U.S. convenience stores continues to expand and last year set a new record with 149,220 units.
That figures is up 1,094 units from the prior year so the increase amounts to only a 0.7% gain, according to the 2013 National Association of Convenience Stores/Nielsen Convenience Industry Store Count. Even so, the growth is noteworthy at a time when overall expansion of selling space in the broader retailer industry has remained stagnant even though the recession officially ended in 2009.
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Safeway rises on speculation of buyout interest
New York -- Shares of Safeway Inc. shares rose as much as 9% on Wednesday on rumors of increased buyout interest for its Canada operations by Canadian grocer Metro Inc. and Loblaw Companies Ltd.
On Tuesday, Metro announced it was selling off nearly half its stake in Couche-Tard Inc. for $482 million.
In December, Loblaw announced plans to spin off the vast majority of its property assets into a real estate investment trust.