News Briefs

Yesway continues to grow its brick-and-mortar footprint.

The fast-growing convenience store chain has opened five new stores under its Allsup’s banner in Texas and New Mexico, giving it a total of 440 locations across nine states. The new Allsup’s stores in Texas are located in Mount Vernon, Lubbock and Keene, while the sites in New Mexico are located in Las Cruces and Farmington. 

The five new stores, each spanning 6,277 sq. ft., operate 24 hours a day. They offer a variety of products, including Allsup's signature burritos. Most locations also feature a beer cave, Western Union services, ATMs, and cryptocurrency and digital currency ATMs.

[READ MORE: Yesway continues rapid store expansion] 

"We could not have achieved this swift pace of growth in 2024 without the relentless efforts and exceptional dedication of our talented teams,” said Thomas Brown, chief real estate officer at Yesway. "Their hard work and commitment have been instrumental in reaching this milestone.”

Established in 2015 and headquartered in Fort Worth, Texas, Yesway operates 440 stores across Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska. Operating primarily under the Yesway and Allsup's store banners, the company offer high-quality grocery items and private label products.

Tractor Supply Company had added an online brand to its portfolio.

The country’s  largest rural lifestyle retailer has completed its acquisition of Allivet, a privately-held online pet pharmacy. The acquisition expands Tractor’s Supply total addressable market by $15 billion to $225 billion, the company said. Financial terms of the deal were not disclosed.

“This acquisition complements and expands our existing ‘Life Out Here’ product and services line-up,” said Hal Lawton, president and CEO, Tractor Supply. “We look forward to providing our 37 million Neighbor's Club members with a value-oriented pet and animal prescription service and introducing Tractor Supply to Allivet's customers."

When the acquisition was first announced in October, Lawton noted that “Allivet is a best-in-class platform with an exceptional management team and a robust financial profile.”

Founded in 1992, Allivet has grown to be a leading online pet and animal pharmacy fully licensed in all 50 states with three distribution centers that allow it to reach a large majority of the U.S. with next day delivery.

[READ MORE: Tractor Supply hikes store expansion goal; 90 new locations on tap for 2025]

As of Sept. 28, 2024, Tractor Supply operated 2,270 namesake stores in 49 states and 205 Petsense by Tractor Supply stores in 23 states.

Japanese retailer Daiso is kicking off 2025 by expanding its footprint in the Golden State.

The discount chain, which sells household goods, stationery, beauty products and more, will open four new stores in California on Jan. 4. The new stores will span across the state, with a new location in Santa Maria on the Central Coast, a Foster City location in the Bay Area, and Apple Valley and Riverside stores in Southern California.

"We are thrilled to expand our presence in California with four new store openings," said Jack Williams, chief retail operations officer for Daiso USA. "California has been a key market for us, and we're grateful for the support of our customers. These new stores reflect the demand for Daiso's wide range of affordable and innovative products."

[READ MORE: Daiso to expand U.S. store count – here's where]

To celebrate the grand openings, Daiso will offer exclusive promotions at all four locations. The first 100 customers who make a minimum purchase of $30 on Jan. 4-5 will receive a special Daiso goodie bag.

"California shoppers have embraced Daiso's concept, and we're excited to make our products more accessible with these new locations," said John Clarke, chief development officer for Daiso USA. "We currently operate 167 stores across eight states, and these openings will allow us to serve our loyal customers while reaching new communities."

Daiso first entered the U.S. in 2005. Its American headquarters is in Anaheim, Calif.

More than a third of Americans took on debt this holiday season, with many spending more money than they planned to.

New data from LendingTree revealed that 36% of Americans took on debt this holiday season, with 65% having put purchases on a credit card and 24% on a store card. One-in-five (21%) used a buy now, pay later (BNPL) loan to make holiday purchases and 19% used a personal loan. Those who went into debt took on an average of $1,181, up from $1,028 in 2023.

Of the 36% who took on debt, only 44% of which had planned to. Parents of young children were the most likely to take on debt, at 48%, millennials ages 28 to 43 (42%) and those earning $30,000 to $49,999 (39%).  

Among those in debt from holiday shopping, six-in-10 (60%) say they’re stressed about it, with 69% of parents of young children saying so. Additionally, 42% say they regret spending as much as they did, and 21% expect it’ll take five months or longer to pay it off. Another 20% are only making minimum payments.

[READ MORE: Mastercard: 2024 holiday retail sales rise nearly 4%]

“Inflation is still a big deal in this country, and it’s having a huge impact on people’s finances, including their holiday spending,” said Matt Schulz, chief credit analyst at LendingTree. “If you were to only buy the same things you bought last Christmas, you’d likely have to spend more this year thanks to inflation. For many Americans, that means you either have to cut back on gifts or take on more debt. While people make lots of sacrifices to deal with higher prices, many may not want to sacrifice at the holidays, so debts continue to rise.”

The full report can be found here.

Pine Tree, the owner-operator of more than 60 grocery-anchored and open-air centers nationwide, has closed on a $247 million loan with New York Life Real Estate Investors to finance a six-asset portfolio it acquired earlier this year in partnership with a state pension fund.

The Oak Brook, Ill.-based company characterizes the properties as “market dominant” centers centers located in Florida, Arizona, Oregon, and Ohio. Anchors in the centers include 13 TJX concepts, Nordstrom Rack, Ulta Beauty, Target, and Dick’s Sporting Goods. 

Kroger, The Fresh Market, and New Seasons Market are among the supermarket anchors.

“We are extremely excited about this financing package and very grateful to New York Life Real Estate Investors for their incredible execution and help in securing the loan,” said Pine Tree’s chief investment officer Conor Bossy.

Pine Tree, also a provider of third-party management services, operates 11 million sq. ft. of retail properties in 35 states. 

Big Lot’s wind-down has begun.

Gordon Brothers, in a joint venture with Hilco Consumer – Retail and Tiger Capital Group, said it has begun store closing sales at all 869 Big Lots locations. The close-out retailer is offering up to 25% off original prices on all merchandise and 50% off a great selection of Christmas and harvest offerings. The discounts will apply at retail stores only and will not be available online. 

Big Lots' going-out-of-business sales come days after the retailer said it did not anticipate completing its previously announced sale to Nexus Capital Management, “though it continues to work toward completing an alternative going concern transaction with Nexus or another party” with a goal to complete a sale by early January. In September, Big Lots filed for bankruptcy protection as part of a deal to be acquired for about $760 million by private equity firm Nexus Capital.

Big Lots has struggled in recent years with declining sales, listed assets and liabilities of $1 billion to $10 billion in its bankruptcy petition. The company is continuing to serve customers in-store and online, and will provide updates as available.

[READ MORE: Party City going out business]

Big Lots’ store closing event occurs as another retailer, Party City, is also planning to go dark.