Regal Cinemas comes to Celebration Pointe in Florida
Gainesville, Fla. – Regal Entertainment Group (NYSE:RGC) will open a 10-screen reserved-seating luxury theater at Celebration Pointe, a 225-acre, mixed-use regional development located in Gainesville, Florida. Celebration Pointe partner Ralph Conti made the announcement.
The theater will include king-sized reclining chairs, a full bar with adjacent lounge seating, and the Regal Crown Club to reward frequent customers. Members can access their card through their mobile device by downloading the Regal Movies app. Users can program their favorite theater, gather movie information, select showtimes and purchase tickets.
The $200 million, 1 million-sq.-ft. Celebration Pointe will feature a mix of approximately 400,000-sq. ft. of entertainment, outlet retail and restaurants uses. Anchored by Bass Pro Shops and Regal Theatre, the project will also contain approximately 350,000 sq. ft. of Class-A office space including the new home of transportation software provider Info Tech and a new 137-room Hotel Indigo. When completed, the project will contain a mix of approximately 1,000 first-to-market residential units.
Site clearing began in August 2014 and public infrastructure work commenced in April 2015. Phase I of Celebration Pointe is slated to open in fall 2016.
Dollar General donates millions toward literacy
Dollar General is making a difference in the lives of its customers and their communities with another massive donation to literacy programs.
The retailer’s Dollar General Literacy Foundation has awarded more than $5.8 million in grants to support adult, family and summer literacy programs to approximately 720 schools, nonprofits and literacy organizations across the 43 states Dollar General serves.
“It is exciting to see the impact grants from the Dollar General Literacy Foundation make throughout the country, especially as we cross the $100 million threshold in overall donations and the difference it has made to nearly six million people,” said Rick Dreiling, Dollar General’s chairman and CEO. “The Dollar General Literacy Foundation truly embodies the company’s mission of Serving Othersthroughout the communities we serve.”
Recipients of the grants will use Dollar General Literacy Foundation funds to support programs aimed at enhancing summer, family and adult literacy programs. Grants will be used to help promote childhood summer reading or help adults learn to read, prepare for the high school equivalency exam or learn English.
A complete list of grant recipients may be found online atwww.dgliteracy.org.
The Dollar General Literacy Foundation has awardedo more than $100 million in donations and grants to nearly 6 million people improve since the foundation’s inception in 1993.
With more than 11,950 stores in 43 states, Dollar General has more retail locations than any retailer in America.
Party City celebrates ‘impressive’ Q1
Party City’s CEO says robust sales prompted an “impressive” increase in same store sales in the first quarter, the company’s first quarterly report after an April IPO.
The company said Thursday it raised about $398 million in net proceeds from the initial public offering, which it used to redeem debt. Party City has entered an agreement with a Mexican company to open franchise stores throughout Mexico, and it expects to franchise at least 80 Party City stores by the end of 2024 with the first three stores being targeted for operations within the next 12 months.
“We’re very pleased with our results this quarter, which were driven by higher sales in both our retail and wholesale channels”, said James M. Harrison, CEO. “In retail, we had impressive comparable sales even after adjusting for the benefit of the Easter shift. New stores and larger transaction dollar sizes driven by product expansion and innovation contributed to robust retail sales. On the wholesale side, sales performance was fueled by strong demand for licensed juvenile birthday products and metallic balloons and higher international sales.”
The party-supply retailer reported sales of $462.1 million in the quarter, a 7% increase over the first quarter of 2014. the company posted a loss of $8.5 million, or nine cents a share, compared with a loss of $19.9 million, or 21 cents a share, a year earlier.
Harrison added:“Our performance this quarter illustrates the strong, competitive advantages of our unique, vertically-integrated business model. We continue to make progress executing on our multiple growth strategies which include further expanding our vertical integration, pursuing alternative markets and expanding our global footprint.”
During the quarter the company opened three new stores, acquired two franchise stores and closed five stores. At March 31, the company operated 693 Party City stores and 205 franchise stores for a total store count of 898 as compared to 673 Party City stores and 209 franchise stores for a total store count of 882 at March 31, 2014.
Looking ahead to 2015, Party City expects earnings excluding items of 97 cents to $1.06 a share, on revenue of $2.25 billion to $2.35 billion. It expects a a same store sales increase of 3% to 3.5%.