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Kroger, Albertsons to Sell 166 Additional Stores in $2.9B Divestiture Agreement Ahead of Proposed Merger

by Katie Lee

Cincinnati and Boise, Idaho — Cincinnati-based The Kroger Co. and Boise, Idaho-based Albertsons Cos. Inc. plan to sell an additional 166 grocery stores to C&S Wholesale Grocers in a divestiture package. This marks an amendment to an existing agreement with the buyer, which will now acquire a total of 579 stores in a $2.9 billion deal. The original divestiture package was announced in September of last year, in connection with a proposed merger between Kroger and Albertsons. In February, the Federal Trade Commission (FTC) sued to block Kroger’s $24.6 billion …

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Newsretailers

JD Sports to Acquire Hibbett, Inc. for $1.1 Billion

by Katie Lee

Birmingham, Ala. — Hibbett, Inc., an athletic-inspired fashion retailer, has entered into a definitive merger agreement in which JD Sports Fashion plc will acquire Hibbett for $1.1 billion. Following the closing of the transaction, Hibbett will join the JD Sports family of athletic footwear and fashion retail brands and will cease to be a publicly traded company. Mike Longo will continue to serve as president and chief executive officer, while Jared Briskin will take on the role of chief operating officer of Hibbett. Hibbett will maintain its corporate headquarters in …

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Newsretailers

Wayfair Sets Grand Opening Date for its First Physical Store

by Katie Lee

Boston — Wayfair Inc. has set the grand opening date for its very first large-format, brick-and-mortar store on May 23, 2024. The 150,000-square-foot store, located in Edens Plaza in Wilmette, Ill., is a one-stop-shop for all things home — including furniture, home décor, housewares and home improvement products, for any style space or budget. The inaugural Wayfair store also has an onsite restaurant, The Porch. Wayfair is a destination for all things home, in one inspiring place. The Wayfair family of brands includes Wayfair, AllModern, Birch Lane, Joss & Main, …

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Newsretailersstore closings

Express Files for Bankruptcy, Plans to Close 107 Stores; Names New CFO

by Katie Lee

Columbus, Ohio — Fashion retailer Express Inc. has filed for Chapter 11 bankruptcy protection and plans to close 107 of its 602 stores. The Columbus, Ohio-based company’s portfolio includes apparel brands such as Bonobos, Express and UpWest Express. As part of the proceedings, 95 stores under the company’s Express banner will be shuttered alongside all 12 of its UpWest Express locations. The closing sales at affected stores are scheduled to begin on April 23, 2024. Express concurrently announced that it has received a non-binding letter of intent from a consortium …

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construction and designNewsretailers

Wegmans to Open 110,000 SF Grocery Store in Charlotte, NC

by Katie Lee

Charlotte, N.C. — Wegmans Food Markets Inc., a Rochester, N.Y.-based grocer, plans to open a 110,000-square-foot store in Charlotte, N.C. Located along North Community House Road, the grocery store will be situated within Ballantyne, Northwood Investors’ 2,000-acre master-planned development on the south side of Charlotte adjacent to the South Carolina border. Wegmans aims to open the new store by the third quarter of 2026. The store will feature all traditional Wegmans departments, including produce, seafood, meat, bakery, deli, cheese and wine and beer. Additional offerings will include Meals2Go and catering, …

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green newsNewsretailerswaste management/recycling

Southeastern Grocers Releases 2023 ESG Report

by Katie Lee

Jacksonville, Fla. — Southeastern Grocers Inc. (SEG), parent company and home of Harveys Supermarket and Winn-Dixie grocery stores, has released its 2023 Environmental, Social and Governance (ESG) report. The grocer is also donating thousands of reusable bags and supporting local conservation efforts through volunteerism and monetary donations in honor of Earth Month. The annual report details forward-thinking sustainability strategies, including eco-responsible operations, associate and supplier diversity, and continued support of local communities in need. SEG further commits to reducing the environmental impact of plastic waste with donation of 33,500 reusable …

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Bill Schaphorst Facility Maintenance NOI quote
Content Partnerfacilities managementFeaturesHVAC/RIndustry Contentkitchen equipmentMaintenXplumbingrestaurantsretailers

Find the Right Maintenance Model for Your Business

by Sarah Daniels

Physical maintenance in the retail industry is as unavoidable as taxes and sometimes as expensive. To keep net operating income (NOI) and uptime as high as possible, building owners, operations groups and retail tenants need optimum strategies to ensure work happens when needed. For many, having a self-performing third-party maintenance partner — one with the in-house resources to do the necessary work — is an efficient and economical move. There are two business rationales for continuous maintenance, which can include services like carpentry; plumbing; heating, ventilation and air conditioning (HVAC); …

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ALDI Launches Checkout-Free Grocery Shopping, Powered by Grabango

by Katie Lee

Berkeley, Calif. — In partnership with ALDI, Grabango has launched ALDIgo checkout-free shopping at a Chicago-area grocery store. ALDI is the first major U.S. grocery retailer to deploy checkout-free technology in an existing, full-size store. The technology, which ALDI deployed at one suburban location, allows shoppers to skip the line and save time. “The launch of ALDIgo is a pivotal moment for the grocery industry,” says Will Glaser, CEO of Grabango. “Although more challenging, it was important to us to launch this technology in a typical store and not one …

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franchise developmentNewsrestaurantsretailers

7-Eleven, Inc. Completes Acquisition of 204 Stripes Stores

by Katie Lee

Irving, Texas — 7-Eleven, Inc., a premier chain in the convenience-store industry, has completed its acquisition of 204 stores from Sunoco LP, which includes Stripes® convenience stores and Laredo Taco Company® restaurants. Located across West Texas, New Mexico and Oklahoma, these stores join the more than 13,000 7-Eleven®, Speedway® and Stripes® locations that 7-Eleven operates, franchises and/or licenses across the U.S. and Canada. With the closing, 7-Eleven now owns and operates all Stripes and Laredo Taco Company locations across the U.S. “Stripes and Laredo Taco Company have been a great …

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Newsretailers

IT’SUGAR Opens Newly Expanded Flagship Store in Miami

by Katie Lee

Fort Lauderdale, Fla. — IT’SUGAR, one of the largest specialty candy retailers in the U.S., is opening its newly expanded flagship department store in Miami at Bayside Marketplace. The new store, which spans over 16,000 square feet across two floors, epitomizes what the brand is known for: thousands of varieties of over-the-top sweets and humorous products, extravagant in-store displays and immersive candy experiences. “We are thrilled to expand our footprint at Bayside Marketplace and open our newest flagship store in Miami,” says Jarett Levan, president and CEO of BBX Capital …

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