DEVELOPMENT/REDEVELOPMENT

Mixed-use development planned for Daniel Island

BY Melonie Messina

Charleston, S.C. — Faison Enterprises announced it broke ground on its new mixed-use development, located in Daniel Island’s Town Center, Charleston, South Carolina. The project will include 317 luxury apartment units along with nearly 30,000 sq. ft. of restaurant and retail space.

“Daniel Island is truly one of the most exceptional master-planned communities in the country. Faison is exceptionally pleased to get started with what we believe will be an unparalleled mixed-use community that will integrate luxury apartment living with upscale retail and restaurant options into the greater Daniel Island community,” said H. Thomas Webb III CEO for Faison.

Located on Island Park Drive between Central Island Street and the newly constructed Fairchild Street, the project is immediately across from the Publix super market and within a short walk to all of the retail, restaurant, employment and recreational options that the Town Center has to offer.

Luxury apartments will include a top-of-the-market amenity package with an 8,300 sq. ft. state-of-the-art fitness center, a resort-style saline swimming pool with in-water tanning ledges and an oversized pool deck with a grilling pavilion and exterior televisions. Also, residents will have the use of a large dog park with a pet spa station, a tranquil hammock garden and a best-in-class clubhouse and leasing center that will feature a demonstration kitchen, a media and game room, a business center that will include individual conference rooms, a gourmet coffee bar and a full guest suite that can be reserved by the project’s residents for their out-of-town visitors.

The retail component of the development has the capacity to accommodate up to three new restaurants with exterior patio seating, as well as several small-shop boutiques or business studios. Faison is looking to attract dining and retail options that will be both innovative and unique to the Island.

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FINANCE

Dollar Tree misses in Q4 despite sales boost from Family Dollar

BY Marianne Wilson

Dollar Tree on Tuesday credited sales at its Family Dollar division as helping to boost the company’s overall results for the fourth quarter. But the increase still fell short of analysts expectations.

Sales for the quarter ended Jan. 30 totaled $5.37 billion, a 116.7% increase from the year-ago period but still less than expected. The boost in revenue was the result of $2.68 billion in sales from the Family Dollar segment.

Dollar Tree’s net income for the quarter was $229 million, compared with $206.6 million last year. Its results were below Wall Street estimates, hurt mainly by the lower-margin product mix at Family Dollar stores and markdowns related to the rebranding of some stores.

“Through a challenging economic environment, we delivered sales of $5.37 billion, which was the mid-point of our fourth quarter guidance range, and our 32nd consecutive quarter of positive same-store sales," said Bob Sasser, CEO. "This was against a strong 5.6% comp from the prior year’s fourth quarter. Additionally, while not included in our comp calculation, for the second consecutive quarter, our Family Dollar banner delivered positive same-store sales increases each month during the quarter.”

Sasser noted that company remains on schedule with the integration of its two companies, “and we are on track to achieve our stated synergy targets.”

During the quarter, the company opened 128 stores, expanded or relocated 53 stores, closed 28 stores and divested of 325 Family Dollar stores.

Additionally, as part of its re-banner initiative, the company opened 58 former Family Dollar store locations as new Dollar Tree stores during the quarter. The company also converted 52 Deals stores to Dollar Tree stores in January. Retail selling square footage at the end of the quarter was approximately 108.4 million sq. ft.

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POS/PAYMENTS

Aldi drops ban on credit cards

BY Gina Acosta

Fast-expanding grocery chain Aldi is making it even easier for consumers to shop its no-frills stores.

The European chain has announced it will now accept credit cards – including Visa, MasterCard, Discover and American Express – at all of its stores across the country.

"As Aldi continues to evolve by expanding its product lines and moving into new markets, the way we do business will continue to evolve as well," said Jason Hart, CEO, Aldi. "We care about being able to make our customers' shopping experiences simpler and better every time they come to see us; and offering them the convenience of using their credit cards will help us do just that."

Beyond the convenience of accepting credit cards, the exclusive products that line the Aldi aisles are changing to meet shoppers' lifestyles. Recently, thanks to customer feedback, Aldi made a big move to get rid of added MSG, certified synthetic colors and partially hydrogenated oils from Aldi exclusive food brands, which make up 90 percent of the foods Aldi offers.

"One thing that will never change at Aldi is our unmatched shopping experience. Our customers will continue to save money on the high-quality groceries they buy the most," said Hart.

Later this month, Aldi will launch its first stores in Southern California. By the end of 2018, there will be nearly 2,000 ALDI stores from coast-to-coast and 45 million customers each month to share the Aldi love for premium quality groceries at the lowest possible prices.

Aldi operates nearly 1,500 US stores in 32 states.

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