Long Island Business News’ Post

Big news in the retail world! Although sad to see retail businesses go, Dollar Tree Stores and Ollie's Bargain Outlet, Inc. are set to acquire 99 Cents Only Stores expanding their footprint in the discount retail market. This strategic move promises to enhance their offerings and provide even greater value to customers. Exciting times ahead for these brands as they continue to grow and innovate! #RetailNews #BusinessGrowth #DiscountRetail

Look what Pennsylvania grocer is growing👀 Regional grocer chain, Weis Markets is making some moves in light of increased profits…thanks to a helping holiday hand from Easter🐣 Weis Markets will begin construction of six new stores with each planned to open in 2025. The company will also invest in five new fuel centers! Jonathan H. Weis, chairman, president, and CEO of Weis Markets further noted: "Our first quarter 2024 results, which benefited from the Easter holiday shift, are in line with our expectations thanks to the continuing efforts of associates at every level of our company," said Weis. "We continue to navigate marketplace trends of product cost and third-party services inflation, declining government benefits, and the increasing mix of our pharmacy retail business, which has a lower margin than our grocery business. More good news for grocery and cheers to their diversified approach to running the business to keep it profitable! #grocery #storebrands #growthmindset

BJ's Wholesale Club is making good on its previously announced plans to open 12 new locations in fiscal year 2024. The company has shared the five latest stores coming to its footprint, building on its already aggressive expansion plans. New locations include: Maryville, Tenn.  Myrtle Beach, S.C. Palm Coast and West Palm Beach, Fla. Carmel, Ind. The company also announced expansion into its 21st state as it plans to open a location near the Jefferson Mall in Louisville, Ky., early next year. The new Louisville club will include a BJ’s gas station, and is expected to create approximately 150 jobs. During the company’s Q4 and FY23 earnings call, BJ’s Chairman and CEO Bob Eddy shared that BJ’s plans to open 15 new gas stations during FY24. Some of those locations will be at clubs that don’t currently have gas stations, while others will be brand new. | Progressive Grocer https://lnkd.in/gW7_rZEB #retail #wholesale #clubs #grocery #gasstations #expansion #supermarkets

More #brickandmortar #retailer expansion news! "Ross Stores, Inc., which has set a long-term target of at least 2,900 ROSS DRESS FOR LESS and 700 DDS DISCOUNTS, will continue its #store growth in 2024. It expects to open about 90 new #locations, including 75 Ross stores and 15 DD’s stores. By comparison, Ross opened 71 Ross stores and 23 DD’s in 2023." #larrytheleasinglawyer #shoppingandtheretailindustry #retailleasing

🏪7-Eleven implements closures and sale-leaseback program amidst a “Big Gulp” of strategy change. 😲Your corner Slurpee supplier might be closing its doors as 7-Eleven plans to shutter 444 stores in North America. 💰Plus, they are also implementing a sale-leaseback plan developed to generate a profit of $520 million. The deal is expected to close in February of next year. The company didn’t reveal where the closures and sale-leasebacks are located but they did indicate they continue to open stores “where customers are looking for more convenience.” (via Retail Dive) The initiative comes alongside the company’s rejection of Alimentation Couche-Tard’s $37 billion bid to acquire them, and a revised offer reported to be as high as $47 billion. Meanwhile, 7-11 is also planning on taking the company public. Interesting stuff! ⛽It’ll be sad to see so many 7-Elevens close. What’s your favorite 7-Eleven purchase or Slurpee flavor? 📍Read more here https://bit.ly/4dVc4eN

Dollar stores, discounters, quick-serve restaurants and auto aftermarket services figure as the most aggressive expanding companies in 2024. #commercialrealestate #retailrealestate #expansion #topexpanders2024

Faris Lee In the News: Faris Lee Investments Shares the Retail Overview for 2023 & 2024 Forecast with Connect Media. Click the link to read the article: https://lnkd.in/gWr_gYtH #coffee #QSR #retailnews #retailrealestate #commercialrealestate #nnn #nnninvestments #singletenant #retail #1031exchange

Five Below plans to more than double its store count by the end of this decade. Last year, the chain opened 205 stores, a record number for the company growing its brick-and-mortar presence by 15% in just one year. In 2024, the company expects to open another record number (between 225 and 235) new stores and convert approximately 200 locations to its “Five Beyond” format. The Five Beyond store-in-store concept consists of a section inside the Five Below store that offers items above the highest $5 store price point offered throughout the rest of the store. Five Below’s average store size is about 8,500 square feet, but the chain will consider available locations for lease in a range between 8,000 and 10,000 square feet with a minimum of 55 linear feet of frontage. Its real estate people are focused primarily on open-air community and power shopping center locations with multiple national anchors and junior anchor cotenants fronted on major highways. Five Below sells items for up to $5 throughout its branded store. Its model is what the resilient “everything’s-a-dollar” store concept was for decades until a couple of years ago when inflation in the U.S. has made it nearly impossible to merchandise a store with a $1 retail price point. Five Below has become by default the new dollar store because it benefits from the disarray of today’s dollar stores. Five Below now has 1,544 stores across 43 states.

Aldi Announces Major Store Change That Will Take Place in 2025. If you’re a fan of Aldi but live closer to a Winn-Dixie or Harvey’s Supermarket, then you’re in luck. The discount grocery retailer purchased 400 Winn-Dixie and Harvey’s stores in August 2023, and expects to convert 50 of those stores into Aldi locations by the end of 2024, with most of them reopened and running by the end of 2025. While Aldi did purchase many stores, it does not have plans to convert all of them into Aldi locations. Given that Winn-Dixie stores are almost double the size of an average Aldi, it wouldn’t make sense to convert those locations, or at least the company is saying that for now. As of right now, Aldi has shut down one Winn-Dixie location in Lakeland, Florida, and is hoping to reopen the store as an Aldi within six months. The grocery retailer has also started conversions or is in the permit process with the following eight other locations in Florida, according to Islander News. https://lnkd.in/eGku2Mwx

German discount supermarket chain Aldi announced Thursday a $9 billion investment to add 800 new stores across the U.S. over the next four years, an expansion that will be in-part fueled by its acquisition of Winn-Dixie and Harveys Supermarket. Aldi says it will add 330 stores across the Midwest and Northeast in the next five years while opening more stores in Southern California and Phoenix—and expanding into new cities, including Las Vegas. The supermarket chain also announced it finalized its acquisition of Southeastern Grocers and its Winn-Dixie and Harveys Supermarket brands, which will account for approximately 400 stores across Alabama, Florida, Georgia, Louisiana and Mississippi. A “significant number” of those locations are converting to the Aldi format in the coming years—approximately 50 of which are beginning the process by the end of the year. The number: Nearly 3,200. That’s how many stores the discount grocer will have in the U.S. by the end of the expansion, according to company data. The discount supermarket chain has opened nearly 100 new stores in the U.S. annually for the last decade, according to  company data . After opening its doors in Germany in 1913, Aldi made its way to the U.S. in 1976. It opened its first location in Iowa—which expanded to 300 stores across America nearly two decades later. The discount supermarket chain, known for its no-frills approach to shopping, currently has nearly 2,400 stores nationwide with nearly 50 million customers per month. About 90% of the products sold are from Aldi exclusive brands, according to the company. As part of its continued effort to expand, it announced plans to acquire Southeastern Grocers last August.