Archive for the ‘CVS/Pharmacy’ category

Weekly Retail Recap July 23rd, 2010

July 23, 2010


  • Menard wins Wisconsin Supreme Court appeal
    The Wisconsin State Supreme Court has sided with home-improvement retailer John Menard, who sought to overturn an arbitration decision in a wrongful termination case against his former general counsel.
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  • NPD: More digital games purchased in stores than online
    According to the PC Games Digital Downloads: Analyst Report, from The NPD Group, in 2009, 21.3 million PC Game full-game digital downloads were purchased online in the United States compared with 23.5 million physical units purchased at retail during the same period.
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  • Roundy’s to expand in Chicago
    Grocery retailer Roundy’s said it has plans to open between 12 and 18 stores in the Chicago area over the next five years under the Mariano’s Fresh Market banner, according to a report by Supermarket News.
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  • Sprouts offers high-efficiency HVAC, refrigeration solutions
    A new Sprouts Farmers Market that opened late June in Culver City, Calif., is projected to use 50% less refrigerant than the industry average, thanks to high-performance heating, ventilation, air conditioning and refrigeration solutions that meet the company’s sustainability objectives.
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2010 Store Openings: Complete List of U.S. Retail Industry Future Expansion

January 15, 2010

Anticipating Economic Recovery U.S. Retailers Plan Beyond the Recession

By , Guide

Judging from the store opening plans announced for 2010, there are many members of the U.S. retail industry who believe that economic recovery is a foregone conclusion and retail expansion will be resuming in the near future. Retailers are looking forward to life beyond the recession.

What follows is a complete and ongoing list of the store openings announced for 2010. The numbers in the left column indicate the total number of U.S. stores each retailer anticipates opening sometime in the 2010 calendar year. Information for this 2010 Store Openings list is obtained from credible published sources available to the general public. Numbers will be updated and additions to the list will be made as new store opening information is made public.

This list was last updated 12/14/09. The most recent additions are indicated by bold lettering.

2010 U.S. Retail Industry Store Openings Planned:

1000  McDonald's (global) 
900  Go Green Station 
600  Dollar General
450  Zara 
350  Walgreens 
300  Burger King
200  Muscle Maker Grill 
150   Advance Auto Parts 
130   Chipotle 
128  Target

110  Sonic 
105  Panera 
100   Edible Arrangements 
100  rue21 
98    Five Below 
75    Pizza Fusion 
75    Sephora
55    Darden Restaurants 
50    Boost Mobile 
50    Kohl's
45    Lowe's 
40    Jos. A. Banks Clothiers 
40    Pep Boys 
40    Qdoba
35    Pizza Hut
35    Rent-a-Center 
29    Max Muscle
27    Jamba Juice 
25    Aldi 
25    New Home 
25    Safeway 
24    Dicks Sporting Goods 
22    Best Buy
22    hhgregg 
20    Anthropologie 
20    Apple 
20    Free People 
20    Urban Outfitters 
18    Smashburger 
16    Casey's General Store
16    WalMart
16    Whole Foods 
15    Bruegger's 
15    Nordstom Rack 
15    Red Robin Gourmet Burgers 
15    Sam's Club 
15    Sprouts 
15    Stevi B's 
14    Costco
13    Maurice's
12    99c Only 
12    Fresh & Easy 
12   Target
11    Charlotte Russe 
8      Duckwall-ALCO 
7      Cracker Barrel 
6      Chuck E. Cheese 
6      Forever 21 
6      The Dump 
5      Little Caesar's 
4      JC Penney
3      Buffalo Wild Wings 
3      HomeGamers 
3      Jack in the Box 
3      Macy's
3      Manhattan Bagel 
3      Meijer 
3      Nordstom 
3      Ruby Tuesday 
3      WinCo 
2      Bloomingdale's 
2      Michael Kors 
2      The Greene Turtle

CVS/Caremark Coming to Market With Sale/Lease-back Deal

December 15, 2009
Another Financial News


AFP Staff
Based on information received through December 8, 2009, Moody’s Investors Service assigns a provisional (P) Baa2 rating to $744.9 million of CVS/Caremark Lease-Backed Pass-Through Certificates, Series 2009-B, to be issued by a trust that will acquire 166 first-priority lien commercial mortgage, credit-tenant lease loans.

The loans will be secured by mostly newly constructed drug stores and related realty that will be triple-net leased to subsidiaries of CVS/Caremark Corporation (“CVS”). Each of the leases will be bondable and guaranteed by CVS, and bankruptcy-remote, special purpose borrowers will own each of the fee or ground-leased properties. The loans mature in January 2032.

Fixed net rent under the leases will be sufficient to pay in full all interest and principal of the loans. The 166 drugstores are located in 34 states.

In rating this transaction, Moody’s used its credit-tenant lease (“CTL”) financing rating methodology (“CTL approach”). Under Moody’s CTL approach, the rating of a transaction’s certificates is primarily based on the senior unsecured debt rating (or the corporate family rating) of the tenant, usually an investment grade rated company, leasing the real estate collateral supporting the bonds.

This tenant’s credit rating is the key factor in determining the probability of default on the underlying lease. The lease generally is “bondable”, which means it is an absolute net lease, yielding fixed rent paid to the trust through a lock-box, sufficient under all circumstances to pay in full all interest and principal of the loan. The leased property should be owned by a bankruptcy-remote, special purpose borrower, which grants a first lien mortgage and assignment of rents to the securitization trust.

The dark value of the collateral, which assumes the property is vacant or “dark”, is then examined; the dark value must be sufficient, assuming a bankruptcy of the tenant and rejection of the lease, to support the expected loss consistent with the certificates’ rating. Moody’s may make adjustments reflecting the possibility of lease affirmations by the tenant and for the landlord’s claim for lease rejection damages in bankruptcy. Moody’s also may give credit for some amortization of the debt, depending upon the rating of the credit tenant. In addition, Moody’s considers the overall structure and legal integrity of the transaction. The certificates’ rating may change as the senior unsecured debt rating (or the corporate family rating) of the tenant changes.

Marcus & Millichap to market Atlanta Trophy Retail

October 4, 2009

CVS opens 7,000th store

October 2, 2009

 Woonsocket, R.I.

( September 25, 2009 )

CVS - East Cobb (Marietta) Atlanta, GaCVS/pharmacy reached a milestone on Thursday with the grand opening of its 7,000th store, in Little Canada, Minn. As part of the grand opening of the store, CVS is offering $75,000 worth of free seasonal flu shots to the unemployed in Minneapolis-St. Paul. The effort is part of CVS Caremark’s nationwide campaign to provide $3 million in free flu shots to unemployed Americans across the country.

New CVS, 25-years NNN, East Cobb (Atlanta)

September 22, 2009