Company news

Walgreens Considers 2,150 Underperforming Stores for Potential Closure

by Hayden Spiess June 28, 2024

Deerfield, Ill. — Walgreens (NASDAQ: WBA) is set to close a significant portion of its store locations across the United States over the next three years. The company is finalizing its “footprint optimization program” after failing to meet earnings expectations in its fiscal third quarter, which ended May 31. Walgreens CEO Tim Wentworth reported in the company’s earnings call on Thursday morning that 25 percent of stores in the United States were not profitable, and that “changes are imminent” for those locations. The retail pharmacy chain currently runs about 8,600 locations …

June 28, 2024

Company news New York News

ShopOne Promotes Chris Reed to CEO

by Hayden Spiess June 28, 2024

New York City — ShopOne Centers REIT has promoted Chris Reed to chief executive officer. Reed joined the company in 2020 as vice president of acquisitions and most recently served as chief investment officer. Former CEO John Roche will now transition to the role of chairman with ShopOne. Additionally, chief operating officer Mike Makinen has been appointed president of the company. Makinen joined ShopOne in 2021 with more than 25 years of retail real estate experience, including roles with SITE Centers, Equity One and Olshan Properties.

June 28, 2024

Company news Investment sales New York News

PHOENIX Acquires Majority of Express Retail Assets

by Hayden Spiess June 27, 2024

New York City — PHOENIX — a new direct to consumer (DTC) platform led by WHP Global in collaboration with an affiliate of Simon Property Group, Brookfield Properties and Centennial Real Estate — has acquired the majority of apparel brand Express’ retail operating assets. PHOENIX is now the operator of the entirety of the brick-and-mortar and e-commerce portfolio of both Express and Bonobos, which features more than 450 physical stores.

June 27, 2024

Colorado Company news News Restaurants

Smalls Sliders Signs 10-Unit Franchise Deal in Colorado

by Hayden Spiess June 27, 2024

Denver — Fast-casual food-and-beverage brand Smalls Sliders has signed a new, 10-unit franchise deal in Colorado, marking the concept’s first entry into the state. An entity doing business as Mountain Sliders LLC will own and operate the restaurants, which will be situated in metro Denver. Locations will include Boulder, Longmont, Greeley and Fort Collins, with the first unit scheduled to open in 2025.

June 27, 2024

Company news Georgia News Restaurants

Jack in the Box to Open 15 Restaurants in Georgia

by Hayden Spiess June 19, 2024

San Diego — San Diego-based Jack in the Box has announced plans to open 15 restaurants in Georgia, marking the first entry into the state for the fast-casual brand. New sites have not yet been selected, but plans include a focus on the Macon, Augusta and Savannah markets. A franchisee will own and operate the restaurants. Jack in the Box also recently announced a commitment to 30 new units in Florida.

June 19, 2024

Company news Georgia News

Walmart to Close Two Stores in Metro Atlanta

by Hayden Spiess June 17, 2024

Dunwoody and Marietta, Ga. — Walmart has announced plans to close two stores located in metro Atlanta. A Walmart Supercenter in Dunwoody, Georgia, and Walmart Neighborhood Market in Marietta, Georgia, will close on July 12. According to a statement from the company, which operates 213 Walmart and Sam’s Clubs stores in the state, there are no additional closures planned at this time.

June 17, 2024

California Company news Entertainment Investment sales News Texas

Sony Pictures Entertainment Acquires Theater Chain Alamo Drafthouse Cinema

by Hayden Spiess June 13, 2024

Culver City, Calif. and Austin, Texas — Sony Pictures Entertainment has acquired theater chain Alamo Drafthouse Cinema from Altamont Capital Partners, Fortress Investment Group and founder Tim League for an undisclosed price. Alamo Drafthouse was founded in 1997 in Austin, and has grown from a single mom-and-pop location to 35 cinemas across 25 metropolitan areas. The company is the seventh-largest theater chain in North America and was one of the pioneers of the in-theater elevated food and drink concept. Alamo Drafthouse will maintain its headquarters in Austin and will continue to …

June 13, 2024

Company news News Virginia

Divaris Group Acquires S.T. Burke Retail Partners

by Katie Sloan June 7, 2024

Virginia Beach, Va. — Virginia Beach-based Divaris Group has acquired S.T. Burke Retail Partners, a retail tenant representation and corporate services company founded in 2014. As part of the acquisition, Sean Burke, founder of S.T. Burke, will join Divaris as principal, national retail markets and retail corporate services. Burke’s tenure in the field includes experience representing brands including Punch Bowl Social, Wagamama, Voicebox Karaoke, Paladar Latin Kitchen, Bomba Taco Bar, Tin Shop Restaurant Group, Gap, Banana Republic, Old Navy, DSW, Urban Outfitters, Anthropologie, Free People, Terrain, Carhartt and Paper Source. Burke …

June 7, 2024

Company news News Virginia

Dollar Tree Explores Future of Family Dollar Business Segment, Including Possible Sale

by Hayden Spiess June 5, 2024

Chesapeake, Va. — Dollar Tree Inc. (NASDAQ: DLTR) has announced a formal review of its Family Dollar business segment, including the possibility of selling, spinning off or otherwise disposing of the brand. In March, Dollar Tree announced the closure of 1,000 stores nationally, roughly 970 of which were underperforming Family Dollar stores. Additionally, Dollar Tree recently acquired designation rights for 170 former 99 Cents Only store leases. “Dollar Tree has been on a multi-year journey to help the company fully achieve its potential,” says Rick Dreiling, chairman and CEO of Dollar …

June 5, 2024

Company news News Tennessee

Tractor Supply Co. Opens 500th Garden Center Store in Lowell, Indiana

by Hayden Spiess June 4, 2024

Lowell, Ind. — Tractor Supply Co. has opened its 500th Garden Center in Lowell, Indiana. The company began adding Garden Centers to new and existing stores in 2020, with the first opening in Rome, Georgia. Averaging 3,000 to 4,000 square feet, the centers offer additional sales space with a focus on live goods, including fruit trees, herbs, vegetables and season items. Founded more than 85 years ago, Tractor Supply Co.’s portfolio comprises 2,233 stores in 49 states.

June 4, 2024

Newer Posts

Older Posts