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- Ross Completes Growth Plans with 97 New Locations
Ross Completes Growth Plans with 97 New Locations
Ross Stores has successfully opened 43 Ross Dress for Less stores and eight DD's Discounts outposts in September and October, reaching a total of 2,112 locations.
Estimated read time: 4 minutes and 15 seconds
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Ross opened 43 Ross stores and Eight DD’s Discounts in September and October.
Krystal aims to reach 500 restaurants through refranchising, focusing on markets like Georgia and Florida.
Investors are holding back on commercial real estate investments, anticipating more market distress and favoring value-add and opportunistic strategies.
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RICK ROSS
Ross has completed its growth plans for fiscal 2023, expanding its total store count to 2,112. (Read Here)
Ross Stores, Inc.
Continued expansion: Ross expanded its presence in both existing and newer markets, opening its first stores in the states of New York and Minnesota for Ross Dress for Less, and growing DD's Discounts footprint in California, Maryland, Tennessee, and Texas.
Strong performance: Ross reported better-than-expected second-quarter earnings and sales, with earnings of $1.32 per share and sales of $4.9 billion. Same-store sales also rose 5%, indicating continued customer demand.
💰 THE MONEY SHOT
Expansion prospects: Looking ahead, Ross remains confident in its expansion plans and aims to grow its store count to at least 2,900 Ross Dress for Less and 700 DD's Discounts locations over time. The retailer believes in the execution of its off-price business model to consistently deliver solid results.
For a contact list of Ross property owners reply “Ross List” to this email.
KRYSTAL CLEAR
Krystal, the decades-old chain, aims to expand its footprint by reaching 500 locations through refranchising opportunities. (Read Here)
Krystal Restaurants, LLC
Sparking operator expansion: Krystal is prioritizing refranchising to stimulate growth, particularly in strongholds like Alabama, Florida, and Georgia. The brand has received significant interest from both new and existing franchisees and aims to have franchisees under contract in the coming months.
Potential whitespace options: In addition to the Southeast, Krystal is willing to expand into markets such as the Midwest and West with the help of experienced franchise partners. The chain is actively seeking multi-unit operators who can contribute to the growth of the iconic brand.
💰 THE MONEY SHOT
Flexible real estate and celebrity partnerships: Krystal is creating more flexibility for franchisees with innovative prototypes, such as a double drive-thru concept. The brand has also collaborated with celebrities like Victor Cruz and Lenard "Charlamagne Tha God" McKelvey to expand its reach and appeal to younger customers.
For a contact list of Krystal property owners reply “Krystal List” to this email.
WAITING GAME
Investors are holding onto capital, anticipating potential distress or dislocation in the market. (Read Here)
Pexels/Unsplash
Holding back: Closed-end funds focused on value-add and opportunistic strategies hold an estimated $300 billion in capital, with investors anticipating favorable investment conditions in the next few years. However, transaction volumes have declined significantly, and uncertainty has led many investors to wait on the sidelines.
Challenging environment: The real estate and investment market are considered one of the most challenging environments to invest in recent history, with many investors waiting for a clearer macroeconomic outlook or potential distress opportunities. Overall, market conditions are cautious and filled with uncertainty.
💰 THE MONEY SHOT
Waiting for clarity: Investors are cautious and hesitant to deploy capital due to the ongoing uncertainty. While the anticipation of favorable investment conditions persists, transaction volumes remain low, and concerns about the economy and high interest rates continue to impact investment decisions.
For a contact list of specific property owners reply “Custom List” to this email.
TRIPLE NET TENDIES
🧠 Thought Leaders: Daniel Herrold analyzes Dutch Bros vs Starbucks comps
👂 Ear Hustle: Kyle Matthews interviews Michael DeGiorgio, CEO of CREXI
💎 Web Gem: CRE Analyst shares Bid-Ask Gaps between Industrial, Multifamily, Retail, and Office
NET LEASE NUGGIES
Price Pressures Persist: Construction input prices rose slightly in September, with energy prices leading the increase. Materials prices have remained relatively flat over the past year, certain segments like concrete have experienced upward price pressures.
Sprouts Farmers Market has unveiled a new state-of-the-art distribution center in Fullerton, California, allowing for improved delivery to over 95 nearby Sprouts locations.
Expanding Whole Foods: Downtown Summerlin to Welcome New Retail Center and Whole Foods Market. The Howard Hughes Corp. announces that Whole Foods Market will anchor a new 7.4-acre retail center, contributing to the growth of Downtown Summerlin in Nevada.
Franchise Success: Scooter's Coffee Builds Generational Wealth with Family Business Model. Scooter’s grew from 260 locations in 2019 to 700 in 2023.
Improving Shopping Experience: Giant Eagle implements Blue Yonder's category management solution to its 470 locations across Pennsylvania, Ohio, West Virginia, Maryland, and Indiana.
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