Sprouts to Open 21 New Store Locations Sprouts Farmers Market plans to open 21 new stores by the end of the year, with locations spanning across several states. Their Florida expansion will include new locations in Sarasota, Largo, and Melbourne. This aligns with Sprouts' strategy to increase its presence in both existing and new markets as their growth initiative highlights the company's confidence in consumer demand for healthy, specialty grocery items. (Chain Store Age 8/27) [Read]

Chick-fil-A Launches Innovative Drive-Thru-Only Location Chick-fil-A has unveiled its first drive-thru-only restaurant featuring an elevated kitchen. The new design aims to improve efficiency and service speed as it optimizes space for handling large volumes of orders. This concept is part of Chick-fil-A's ongoing innovation to improve customer experience in its high-traffic locations. (Chain Store Age 8/26) [Read]

Target Beats Q2 Expectations Target exceeded Wall Street expectations in Q2, reporting net earnings increase of 43%. The retailer saw 3% growth in traffic in the quarter, with traffic growth coming in all six of its main merchandising categories. Target is maintaining their full-year guidance of a 0 to 2% increase in sales, citing improving trends in discretionary categories among other factors. (Chain Store Age 8/21) [Read]

Home Depot Q2 Beats Estimates Home Depot reported better-than-expected Q2 earnings and sales, but remained cautious as consumers put off big ticket purchases. They have changed their original full-year estimate from a 1% decline in comparable sales to a 3 to 4% decline. This comes after net sales in Q2 slightly increased by 0.6% and comparable sales decreased 3.3%. Despite their financial performance, Home Depot plans to add 12 new locations in fiscal 2024. (Chain Store Age 8/13) [Read]

Lowe’s Beats Expected Q2 Earnings Lowe’s reported better-than-expected earnings for Q2 but missed sales estimates, leading the company to cut its full-year forecast. Total sales were down roughly 6% from the year-ago quarter as the home improvement retailer cited a challenging macroeconomic environment and shifts in consumer spending patterns as key factors impacting its performance. (Chain Store Age 8/20) [Read]

BJ’s Wholesale Club Beats Q2 Revenue Estimates BJ’s Wholesale Club reported better-than-expected revenue in Q2, driven by strong membership, traffic, and digital sales growth. The wholesale club saw a 3.1% increase in comparable club sales year-over-year, 2.4% if gasoline sales are excluded. This is BJ’s 10^th consecutive quarter seeing traffic growth as the company continues to outperform and expand its footprint. (Supermarket News 8/22) [Read]



Nordstrom Saw Q2 Revenue Growth, Remains Cautious Net sales gained 3.4% at Nordstrom, while Nordstrom Rack saw net sales increase 8.8%. Nordstrom Rack and the company’s annual Anniversary Sale lifted their Q2 revenue, however net income still fell 10.9%. The company still opened five new Rack locations in the quarter, bringing them up to 11 new locations year-to-date. The company plans to open 12 more locations ahead of the holidays. (Chain Store Age 8/28) [Read]

Kohl’s Sees Mixed-Results in Q2 Kohl’s reported better-than-expected earnings, despite continuing sales declines. Net sales fell 4.2%, while net income slightly grew from the year-ago quarter. Kohl’s intends to continue their turnaround strategy and push more of their in-store Sephora shops. The retailer raised its profit outlook for the year but lowered its revenue guidance, reflecting cautious consumer spending. (Chain Store Age 8/28) [Read]

The Container Store Q1 Sales Drop 12% The Container Store reported net sales of $181.9 million in Q1, a 12.2% decrease year-over-year. Net sales fell 12.1%, with online sales seeing a decrease of 25.6%. Since the same period in 2022, sales are down nearly 31%. The Container Store, however, is still expanding their footprint as they have opened a few locations this year and have plans for two more Florida locations to open by the end of the year. (Retail Dive 8/7) [Read]

Conn's Closing All Stores The Texas-based furniture and appliances retailer is closing all of its 553 stores across both the Conn’s HomePlus and Badcock Home Furniture & More banners. They filed for bankruptcy because of struggles brought on by increased competition and a general downturn in consumer spending. Conn’s reported a 7.8% decline in revenue and a 9.1% decline in total net sales in 2023. (Chain Store Age 7/25) [Read]

CTO Realty Growth Buys Three Centers for $137.5M The three centers purchased add up to roughly 893,000 SF of retail space in Florida and North Carolina. The 100,385-square-foot Millenia Crossing in Orlando, 102,000-square-foot Lake Brandon Village in Brandon, as well as 691,000-square-foot Carolina Pavilion in Charlotte were the three centers acquired. CTO continues their growth in key Southeast markets. (Shopping Center Business 8/22) 

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Lee Vista Promenade Sells for $68.5M Colliers brokered the sale of Lee Vista Promenade for $68.5M. The property, a 313,981-square-foot shopping center in Orlando, was 95.5% leased at the time of sale and is anchored by Academy Sports, Epic Theaters, and Ross Dress for Less. Dundas Real Estate Investments acquired the center from SITE Centers. (RE Business Online 8/14) [Read]

The Quay Sells for $48.5M The waterfront Fort Lauderdale site includes a 73,000-square-foot shopping center, marina, and office building. A joint venture between PEBB, BH, and Related Group acquired the site and plans to redevelop the existing center into a tower with 361 residential units and 12,000 square feet of retail and restaurant space, aiming to enhance urban living and dining experiences.

(PROFILEmiami 6/25) [Read]

Palm Aire Marketplace Sells for $33.1M Colliers brokered the sale of Palm Aire Marketplace in Pompano Beach for $33.1M. The 143,219-square-foot center is anchored by Presidente Supermarket and DD’s Discounts. The center is located across the street from The Pomp, a $2B mixed-use project currently under construction. (Shopping Center Business 8/19) [Read]

Ridge Plaza Sells for $22.25M JBL Asset Management has acquired Ridge Plaza, a 138,554-square-foot center anchored by Goodwill, Off The Wall, and Paragon Theaters, for $22.25M. This reflects the company’s strategy to invest in prime retail locations. The center was 98.6% leased at the time of sale. (GlobeSt 8/28) [Read]

ShopOne JV Acquires Midway Plaza and Lithia Square ShopOne Centers REIT, Pantheon, and a global institutional investor have acquired Midway Plaza in Tamarac and Lithia Square in Brandon. Midway Plaza is a 218,400-square-foot Publix-anchored center that was 84% occupied at the time of sale. Lithia Square is a 69,007-square-foot Walmart-anchored center that was 79% occupied at the time of sale. Sales price and seller information were not disclosed. (RE Business Online 8/2) [Read]

Inflation Slows to Three-Year Low The Consumer Price Index rose 2.9% in July over the year-ago quarter, the index’s lowest rating since March 2021. This July’s inflation reading is significantly down from the 9.1% peak seen in mid-2022, finally nearing the long-term target of 2%. This decrease in inflation has alleviated some pressures on consumers and businesses, paving the way for rate cuts on the horizon. (CNBC 8/14) [Read]

Florida's Population Growth Fuels Economic Expansion Florida's economy is significantly influenced by migration trends, with new residents coming primarily from New York, New Jersey, and Illinois. This growth supports economic expansion but has also led to higher living costs and reduced purchasing power for residents. As of April 2024, Florida's population exceeded 23 million, the third most populous state in the U.S. (Florida Chamber of Commerce 1/31) [Read]