REAL ESTATE

Dollar Tree to expand distribution center

BY CSA STAFF

CHESAPEAKE, Va. — Dollar Tree has announced that it intends to expand its distribution center in Marietta, Oak., by an additional 400,000 sq. ft. More than 100 full time positions will be created as a result of the expansion.

The facility in Marietta opened in 2003 and is currently 603,000 sq. ft. This facility supplies products to stores across eleven states, including all of Oklahoma, Kansas, Colorado, New Mexico and Texas, and portions of Louisiana, Arkansas, Missouri, Nebraska, South Dakota, Wyoming and Montana.

Construction on the expansion is scheduled to start in February 2013 and should be completed in the autumn of 2013. The total cost of the expansion is expected to be approximately $25 million, financed by Dollar Tree using available cash.

“Dollar Tree has grown steadily for 26 years,” said Bob Sasser, president and CEO of Dollar Tree, Inc. "The expansion of our Marietta Distribution Center is consistent with our long-standing practice of building infrastructure to support future growth of our business. The additional capacity will allow Dollar Tree to continue to expand its reach and provide more value to more customers throughout the region.”

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N.Smith says:
Mar-13-2013 09:21 am

The expansion will surely
The expansion will surely improve their way of serving the customers to excellence, and will also creates more job opportunities. - Scott Sohr

N.Smith says:
Mar-13-2013 09:21 am

The expansion will surely improve their way of serving the customers to excellence, and will also creates more job opportunities. - Scott Sohr

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FINANCE

NRF welcomes agreement to avoid fiscal cliff



BY Marianne Wilson

WASHINGTON — The National Retail Federation on Wednesday welcomed an agreement reached between the White House and Congress on a plan to avoid the fiscal cliff. The agreement was approved by the Senate early this morning and could be considered by the House as soon as today.


“If our nation had been allowed to go over the fiscal cliff, the consequences would have been devastating for businesses and consumers alike,” NRF president and CEO Matthew Shay said. “With the economy still recovering, taking hundreds of billions of dollars out of consumers’ hands was a risk we could not afford to take. This agreement might not be seen as perfect by everyone, but it gives American consumers and businesses the certainty they need to put worries over this issue behind them and get on with the business of growing our economy and creating jobs. We urge Congress and the White House to move as quickly as possible to get it passed and signed into law.”



While avoiding the tax hikes and spending cuts that would have come without a deal is good news, Shay said the agreement is just a first step in addressing economic issues.


“The Administration and Congress did what was politically easy but will soon have to return to deal with issues that are economically critical if we are to sustain a growing and vibrant economy,” Shay said. “Congress and the White House still need to develop long-term plans dealing with tax reform and other fiscal issues.”

If tax hikes and spending cuts that make up the fiscal cliff had been allowed to go through, retails sales in 2013 would have been flat for the year, with negative growth in the first half of the year, according to an analysis conducted by NRF chief economist Jack Kleinhenz working with the economics firm Macroeconomic Advisors. A November White House report said consumer spending could have taken a hit of nearly $200 billion in 2013 if middle-class tax cuts were allowed to expire.

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D.Peyton says:
Jan-09-2013 06:24 am

Those out of the loop and
Those out of the loop and stressing over it - which should be nobody at this point - Congress has arrived at a decision on the so-called "fiscal cliff." The fiscal cliff deal, as it were, largely extends tax breaks for the largest of corporations, but does have some effects on the public at large. For starters, Social Security payroll taxes go up by two percent, cutting into salaries. Read more: Impacts of the fiscal cliff deal.

D.Peyton says:
Jan-09-2013 06:24 am

Those out of the loop and stressing over it - which should be nobody at this point - Congress has arrived at a decision on the so-called "fiscal cliff." The fiscal cliff deal, as it were, largely extends tax breaks for the largest of corporations, but does have some effects on the public at large. For starters, Social Security payroll taxes go up by two percent, cutting into salaries. Read more: Impacts of the fiscal cliff deal.

J.Shaughness says:
Jan-02-2013 07:11 pm

Fiscal cliff support.
It's hard to imagine the NRF supports a deal that increases taxes on 70% of workers, thereby taking dollars away from what little disposable income remains during a sustained period of unemployment and a weak economy.

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News

Starbucks completes Teavana acquisition

BY Marianne Wilson

SEATTLE — Starbucks Coffee Company announced that it has completed its acquisition of Teavana Holdings has formally closed, making Teavana a wholly-owned subsidiary of Starbucks. Teavana has some 300 locations, primarily in 300 shopping malls across the nation.

The acquisition is the the latest addition to Starbucks emerging brands portfolio, which also includes Evolution Fresh, La Boulange, Seattle’s Best Coffee and Tazo.

Starbucks acquired Teavana for an aggregate acquisition price of approximately $620 million in cash and is expecting the acquisition to be accretive to earnings by approximately $0.01 per share in fiscal year 2013, based upon the previously announced earnings targets.

Teavana public stockholders of record will receive $15.50 per share in cash.

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N.Smith says:
Mar-13-2013 09:36 am

This acquisition may serve as
This acquisition may serve as a way for Teavana's growth as well as will give the companies a unique opportunity to create a superior position in the market. - Scott Sohr

N.Smith says:
Mar-13-2013 09:36 am

This acquisition may serve as a way for Teavana's growth as well as will give the companies a unique opportunity to create a superior position in the market. - Scott Sohr

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