Dick's Sporting Goods Reports Strong Q2, Expands Experiential Formats Dick's Sporting Goods reported impressive Q2 results, with net income rising and sales increasing 7.8%. The company is expanding its experiential Dick's House of Sport format, with plans to open five more locations by year-end. Dick's is also revamping some of their namesake stores to its "Field House" concept, with 17 locations already open and nine more planned this year. (Chain Store Age 9/4) [Read]

Burlington Reports Strong Q2 Results, Plans 100 New Stores Burlington reported a significant increase in Q2 earnings, with net income soaring to $74 million from $12 million in the year-ago period and total sales jumping 13%. The company raised its full-year outlook, expecting sales to increase between 9% to 10%. Burlington is on track to open 100 net new stores plus approximately 30 relocations this year. (Chain Store Age 8/30) [Read]

Whole Foods Opens New Smaller Store Format Whole Foods Market has launched its first Whole Foods Market Daily Shop, a smaller format store in New York City. The 9,000-square foot location focuses on grab-and-go items, convenience products, and local offerings. This new format aims to cater to the specific needs of urban markets, marking a significant milestone in the company's growth strategy. (Chain Store Age 9/19) [Read]

Red Lobster Emerges from Bankruptcy with New Ownership and CEO Red Lobster has exited bankruptcy as a privately owned company with 544 locations across 44 U.S. states and four Canadian Provinces. The restaurant chain closed approximately 90 locations prior to its bankruptcy filing and additional closures followed. Red Lobster's restructuring has resulted in a stronger balance sheet and reduced debt, positioning it for future growth and success in the casual dining sector. (Chain Store Age 9/16) [Read]



GameStop Reports Profit Despite Revenue Decline GameStop saw a surprise profit in Q2, despite net sales falling 31.4%. The retailer has begun a store portfolio optimization review, which may result in more store closures than in recent years. The company ended the quarter with a strong cash position despite their continued challenges from the shift to digital game downloads and online purchases. (Chain Store Age 9/11) [Read]

Dollar Tree Reports Disappointing Q2, Cuts Full-Year Outlook Dollar Tree reported a decline in second-quarter net income to $132.4 million, down from $200.4 million in the year-ago period. Net sales increased by 0.7%, missing estimates as the company cites pressure on customers and weak demand for their Family Dollar banner. The company has closed approximately 655 stores as part of its strategic review and plans to close 45 more this fiscal year. (Chain Store Age 9/4) [Read]

BurgerFi International Files Bankruptcy BurgerFi International, the parent company of BurgerFi and Anthony's Coal Fired Pizza & Wings, has filed for Chapter 11 bankruptcy protection. The company cited a decline in post-pandemic consumer spending, sustained inflation, and increasing food and labor costs as reasons for the filing. BurgerFi aims to use this process to stabilize its business, protect and grow its brands, and secure additional capital. (Chain Store Age 9/11) [Read]

Publix Acquires Seven Florida Shopping Centers Publix Super Markets has purchased a portfolio of seven grocery-anchored shopping centers across Florida for $223.85 million. The portfolio, totaling 608,314 square feet and 97% occupied at the time of sale, includes properties in Davie, Kissimmee, and Fort Myers. This acquisition demonstrates Publix's strategy to invest in and control its real estate assets, potentially allowing for greater operational flexibility and long-term value creation in key Florida markets. (Business Observer 9/8) [Read]

Causeway Shopping Center Sells for $16.5M The Shopping Center Group has brokered the sale of Causeway Shopping Center in Melbourne, for $16.5 million. The 111,816 square foot property, anchored by Ross Dress for Less, Michaels, and Bealls, was 85 percent leased at the time of sale. Built in 1966 and renovated in 2008, the center was sold by a joint venture between Forge Capital Partners and The Sembler Co. to a California-based buyer. (Shopping Center Business 9/4) [Read]

Macy's Sells Two South Florida Stores for $28M An affiliate of Washington Prime Group purchased a 224,396 square foot Macy's department store at Boynton Beach Mall for $15 million. Lotte Plaza Market, an Asian grocery store, purchased the 50,111-square foot Macy’s box at Pembroke Entrance for $13 million. Macy’s is leasing back the Pembroke store, while the future of the Boynton Beach store remains uncertain as it may be among the approximately 150 locations Macy's plans to close. (The Real Deal 9/18) [Read]

Shops at Sunset Place Proposed for Redevelopment Sunset Place in South Miami, anchored by LA Fitness, AMC Theatres, and Barnes & Noble, has been proposed to be redeveloped into a mixed-use development. It will feature 1,513 multifamily units, 287 hotel rooms, and approximately 150,000 square feet of commercial space, primarily dedicated to restaurants. This redevelopment follows current trends in South Florida, where traditional projects are being revitalized to enhance customer traffic and urban living experiences. (Miami Herald 10/1) [Read]

Billionaire Developer Proposes Massive Mixed-Use Project in Miramar Sunbeam Development Corp. has proposed a large-scale mixed-use development called Park Miramar on a 125-acre site on the northeast corner of Miramar Pkwy and Red Rd. The project will be grocery and entertainment anchored and includes plans for 2,874 residential units, a 185-room hotel, over 240,000 square feet of retail and restaurant space, and 128,000 square feet of offices. The development features 24 separate buildings to be constructed in multiple phases and, if approved, would begin construction with apartment buildings and restaurants. (Connect CRE 9/12) [Read]

Amazon and Walmart Set to Dominate U.S. Retail Market  Amazon and Walmart are projected to capture one-fourth of total U.S. retail sales and two-thirds of online retail sales by 2029. U.S. total retail sales are forecasted to reach $6.0 trillion by 2029, with online retail sales hitting $1.8 trillion. Non-durable goods categories show significant online growth potential, with online grocery expected to grow fastest. (Chain Store Age 9/11) [Read]

U.S. Job Growth Surges in September, Unemployment Rate Dips The U.S. economy added 254,000 jobs in September, exceeding the Dow Jones forecasted 150,000. The unemployment rate decreased to 4.1% with average hourly earnings rising 0.4% monthly and 4% annually, surpassing estimates. Full-time employment increased by 414,000, while part-time decreased by 95,000. The hospitality industry led job creation with 69,000 new positions, followed by health care and government.

(CNBC 10/4) [Read]