- Top 50 retailers by store count “By store count on the SN Top 50 list, dollar chains Dollar General (17,266 stores) and Dollar Tree/Family Dollar (15,685 stores) upheld their commanding lead, despite a big gain by 7-Eleven, the new No. 3 in terms of locations. The convenience store giant’s acquisition of over 3,800 Speedway stores from Marathon Petroleum (now off the list) in May 2021 boosted its total U.S. and Canadian locations to 13,839.” (Supermarket News)
- More people are telling their jobs to 'shove it' amidst record quits “According to recently released data from the Bureau of Labor Statistics, 3.6 million workers quit their jobs in May, a month when there was one available worker for every job open (and there were 9.2 million jobs open). In April, the quit number was a record-breaking 4 million.” (Insider)
- Dollar General makes push into health care “The discounter has hired its first chief medical officer and is expanding its assortment of cough and cold, dental, nutritional, medical, health aids and feminine hygiene products across many of its stores. Dollar General said the effort marks the first major step in its ‘strategic journey’ toward increasing access to health care offerings.” (Chain Store Age)
- Dodge Momentum Index Loses Steam In June “Uncertain demand for some building types (such as retail and hotels), higher material prices, and continued labor shortages are weighing down new project planning. Even with June’s decline, however, the Momentum Index remains near a 13-year high and well above last year. Compared to a year earlier, both commercial and institutional planning were significantly higher than in June 2020 (39% and 46% respectively). Overall, the Momentum Index was 41% higher.” (Dodge Data & Analytics)
- Supply Chain Reshoring Unlikely Despite Pandemic Disruptions “Other factors militating against a North American reshoring is the huge Asian consumer market, with companies wanting to keep supply and production close to that massive opportunity, as well as the relatively higher facility and labor costs at least in the U.S. and Canada, Viteritti said. Mexico is an option but there are serious issues.” (Multichannel Merchant)
- Real Estate Industry Couldn’t Be Happier With Eric Adams’ Primary Victory “The Brooklyn borough president emerged as a palatable choice for developers and brokers, who entertained voting for former Citigroup executive Ray McGuire and former presidential candidate Andrew Yang, before ultimately ranking Adams to thwart progressive challengers like New York City Comptroller Scott Stringer and former Bill de Blasio adviser Maya Wiley.” (Commercial Observer)
- COVID-19 ravaged L.A. restaurants. Will permanent outdoor dining help save them? “Created under the mayor’s emergency authority in May 2020, the program, called L.A. Al Fresco, allowed restaurants to expand outdoor dining onto sidewalks, parking lots and sections of city streets. Current authorizations extend through Sept. 1, leaving diners and restaurant workers wondering about the long-term future of outdoor dining in L.A. — an arrangement that has seen restaurant tables sprawl over sidewalks and parkways all across the city in recent months.” (Los Angeles Times)
- Baby Boomers: Rich With Real Estate and Not Letting Go “The bulk of real estate wealth was long held by baby boomers’ predecessors, the Silent Generation (those born before 1946), but they generally followed the familiar pattern of selling later in life and moving in with extended family, to assisted-living facilities or nursing homes. Aging-in-place boomers are disrupting this trend.” (The New York Times)
- Mass. bill would double real estate fee to fund clean energy, affordable housing “The legislation would double the deeds excise fee paid on real estate transactions, which hasn’t been increased in more than 30 years. The added revenue would be split evenly between programs to slow and respond to climate change and those to improve access to affordable housing — two urgent needs that are intimately connected, advocates said.” (Energy News Network)
- Report: Malls are within striking distance of 2019 traffic levels “Traffic has been steadily increasing along with vaccination rates, moving up more than 20 percentage points since February and 13 points since March, according to the digital traffic-tracking company.” (Chain Store Age)
- Mickey Drexler, Former Gap and J.Crew Boss, Is Running a Fashion Brand Again “His son Alex Drexler founded Alex Mill in 2012 as a maker of men’s shirts sold at luxury stores such as Barneys New York. After Mickey Drexler stepped down as J.Crew’s CEO in 2017, he made an investment in the company, became an adviser and introduced his son to Somsack Sikhounmuong, who had served as J.Crew’s design chief.” (The Wall Street Journal)
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