Thursday, November 21, 2024
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Walmart Reports Strong Q3 Revenue Growth & Operating Income

by Katie Lee

Bentonville, Ark. — Walmart Inc. announces third-quarter results with strong growth in revenue and operating income. Globally, e-commerce grew 27% with penetration up across all segments. Walmart U.S. comp sales are up 5.3% with positive growth in general merchandise. Looking ahead, the company raises its guidance for fiscal year 25 with net sales expected to grow 4.8% to 5.1% and adjusted operating income to grow 8.5% to 9.25% in constant currency (cc). “We had a strong quarter, continuing our momentum,” says Doug McMillon, president and CEO, Walmart. “Our associates are …

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Citi Trends Appoints CEO

by Katie Lee

Savannah, Ga. — The board of directors of Citi Trends Inc. has appointed Kenneth (Ken) Seipel as chief executive officer, effective Nov. 18, 2024. Seipel has been serving as the interim CEO of Citi Trends since June 1, 2024, and on the board of directors since 2019. Concurrently, the board appointed Peter Sachse, the current executive chairman of the board, as chairman of the board. In addition, the company is announcing preliminary Q3 2024 results with sales of $179.1 million and comparable store sales growth of 5.7% vs. Q3 2023. …

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EVgo and Meijer Expand Partnership to Install up to 480 Fast-Charging Stalls

by Katie Lee

Los Angeles — EVgo Inc., one of the nation’s largest public fast-charging networks for electric vehicles (EVs), has expanded its longstanding partnership with Meijer, a Midwestern grocery retailer, to bring more public fast-charging infrastructure to Meijer store locations throughout its six-state footprint. As part of this expanded relationship, EVgo plans to deploy up to 480 new public fast-charging stalls at Meijer properties across Michigan, Illinois, Wisconsin, Indiana, Ohio and Kentucky. To date, EVgo has opened 24 public fast-charging stalls at six Meijer stores in Michigan and Ohio, and as part …

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Wawa to Open First 3 Stores in Georgia to Kick Off Expansion Plan

by Katie Lee

Wawa, Pa. — Wawa, a privately held, associate and family-owned chain of more than 1,080 convenience retail stores currently operating in eight states and Washington, D.C., opened its first Georgia store on Nov. 14, in Bainbridge. Before the end of 2024, Wawa will open two more stores in the Peach State (in Brunswick and Jesup). “It’s official — Wawa is opening our doors to serve our newest friends and neighbors in Georgia!” says Brian Schaller, president of Wawa. “We are thrilled to open three stores this year to bring our …

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Dollar Tree Makes Key Leadership Changes

by Katie Lee

Chesapeake, Va. — Dollar Tree, Inc. has made several updates to its executive leadership team. Steve Schumacher has been promoted to executive vice president and chief people officer; Jocelyn Konrad has been named chief of Dollar Tree Stores and enterprise store operations; and Jason Nordin has been named president of Family Dollar Stores. Schumacher’s promotion is effective immediately. He has served as interim chief people officer for the past 6 months and will continue to lead all human resources (HR) functions for the Dollar Tree and Family Dollar banners. He …

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Centennial Names New President

by Katie Lee

Dallas — Centennial, a retail real estate owner and operator with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners (www.centennialrec.com), has appointed Paul Kurzawa to serve as president. Kurzawa is an experienced real estate and entertainment executive with more than 25 years of international multi-asset and multi-discipline expertise in the commercial real estate and entertainment industries. He has worked for some of the most distinguished global real estate and entertainment companies in the world, including The Blackstone …

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Brilliant Earth Unveils New Showroom in NYC’s Nolita Neighborhood

by Katie Lee

San Francisco — Brilliant Earth Group, Inc., an innovative, global leader in ethically sourced fine jewelry, is opening its first street-level showroom in New York City. The showroom is located at 255 Elizabeth St. in Nolita and expands the company’s retail footprint to 4 locations in the New York metropolitan area and 39 overall. The inviting floorplan includes a jewelry try-on bar, offering customers a hands-on and engaging holiday shopping experience and includes dedicated private spaces for the company’s signature one-on-one bridal and fine jewelry appointments. “We are committed to …

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Westfield Montgomery Welcomes 6 New National Retailers

by Katie Lee

Bethesda, Md. — Westfield Montgomery is welcoming six new highly sought after fashion brands. Tory Burch, Abercrombie & Fitch and Carter’s will open this November followed by UNIQLO opening in mid-2025. These additions are the latest in a series of new tenants for Westfield Montgomery in 2024. Most recently, J. Crew moved into a sleek new space. JD Sports, a leading retailer of fashionable sportswear and sneakers, opened in late September. Swiss chocolatier Läderach opened in summer 2024. “We’re excited to expand our upscale retail offerings at Westfield Montgomery for …

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Bill Schaphorst Holiday Shopping Maintenance
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Holiday Prep for Retail Success: Why Maintenance Matters Before Black Friday

by Sarah Daniels

The holiday season can present an existential challenge for retailers, testing the skills and endurance of marketing and sales teams in a six-week race to reach revenue targets by the end of the year. It is not a time to inconvenience customers and staff with building maintenance or repairs. “There’s a reason they call it Black Friday,” says Bill Schaphorst, vice president of business development at MaintenX, a commercial facility maintenance and repair company. “Because of the surge in traffic and sales on the fourth Friday in November, that typically …

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The Placemaker

by Katie Lee

— By Katie Lee — PREIT is redefining the role of malls by transforming them into vibrant community hubs. As a premier developer and operator of retail and entertainment destinations all over the country, in some of the most sought-after, high barrier-to-entry MSAs, PREIT has long understood the importance of creating a “sense of place.” But with more than 6 decades of experience and a foresight to see beyond the traditional malls or power centers of its early years, today PREIT and its 17 premier properties offer so much more …

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