Tractor Supply to expand its footprint, aiming for 3K nationwide Tractor Supply Company has revealed its plans to expand its store presence, but it has also adjusted its financial outlook for the year. In the second quarter, the company experienced a 7.2% increase in net sales compared to the previous [...]
Chipotle signs first-ever franchise agreement — for expansion in Middle East Chipotle Mexican Grill, known for its direct ownership and operation of all its restaurants, has taken a significant step by entering into its first-ever development agreement. This milestone involves a partnership with the Alshaya Group, an international franchise retail [...]
Inflation continuing to trend down. The headline consumer price index climbed by 3.0 percent year-over-year in June, the smallest increase since March 2021. A 16.7 percent decline in energy costs helped slow the overall inflation rate to a third of its June 2022 peak. However, prices for other categories of [...]
Prime Day helped push U.S. e-commerce more than 6% to $12.7B Amazon on Thursday said that July 11, the first day of its Prime Day sale, was the single largest sales day in its history. The e-commerce giant didn’t provide revenue numbers for the two-day event, but said Prime Day [...]
Residential and e-commerce growth spur need for outdoor storage. The formation of nearly 3.2 million households over the 24-month span ending in March — the most of any two-year period since 2002 — coinciding with an 18 percent jump in online retail sales, underpin tenant demand for industrial outdoor storage [...]
Supreme Court blocks Biden-Harris student debt forgiveness plan. Early in the health crisis, the CARES Act froze repayment and interest accumulation on federal student loans. In 2022, the Biden Administration introduced a forgiveness plan for qualifying borrowers, worth between $10,000-$20,000. Borrowers have not had to make monthly payments in over [...]
Employment growth strong, but down from recent periods. Monthly hiring dropped below the 300,000 mark for the fourth time this year with the creation of 209,000 jobs in June. While the softest period for employment growth since December 2020, June’s total is still well above the past 30-year average of [...]
RaceTrac making largest acquisition in its history: Gulf Oil LLC RaceTrac, a family-owned convenience store retailer, announced that its subsidiary, Metroplex Energy, has reached a definitive agreement with Gulf Oil L.P. to acquire Gulf Oil LLC. The financial details of the deal were not disclosed. As part of the agreement, [...]
Consumers’ priorities reinforce positive outlook. One of the nation’s least-vacant commercial real estate segments, the retail sector entered the second half in a favorable position. Labor market resiliency, wage growth and easing inflationary pressures are aiding consumers’ purchasing power, with households concentrating more of their spending on groceries, personal care [...]
Sellers retain leverage amid deficient supply. Homebuyers have yet to see the market turn in their favor as of mid-2023, despite predictions offered earlier by some prognosticators. Many anticipated that higher interest rates would stymie purchases and prompt sellers to drop prices. While part of this has come to fruition [...]
