Tuesday, July 28, 2015

Dollar Tree, Moe's look for Philly sites

  Not all chain stores are cutting back in the recession. Dollar Tree Inc., the publicly-traded 3,400-store retailer of cheap s

Dollar Tree, Moe's look for Philly sites

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  Not all chain stores are cutting back in the recession. Dollar Tree Inc., the publicly-traded 3,400-store retailer of cheap stuff, this year hopes to add 20 Dollar Trees in the Philadelphia area, plus 50 more for its Deal$ division, which sells groceries and other items worth $5 and less. Dollar Tree bought Deal$ two years ago for $30 million (plus inventory) from SuperValu Inc., which owns Acme and Save-A-Lot.  Donna Drew at Metro Commercial Real Estate in Conshohocken is representing Dollar Tree. Today she said signed Dollar Tree to a 10,000-square-foot space in the Eagleville Shopping Center, with Genuardi’s and Kmart. She says some other local existing locations are looking to expand.  Separately, Moe’s Southwest Grill, Atlanta, whose products include the Homewrecker burrito, has signed deals to negotiate leases at 14 locations it will franchise around Philadelphia over the next few years, says spokeswoman Kelsey Anthony.
  Moe’s is an arm of Focus Brands, which belongs to Roark Capital of Atlanta, which paid an estimated $130 million (10 times earnings without income tax, depreciation, or amortization) to Raving Brands, also of Atlanta, to buy Moe’s and its 360 locations last year, Nation’s Restaurant News reported.
  Focus also runs the Caravel ice cream, Cinnabon pastry, Schlotzky’s sandwich, and Seattle’s Best coffee stores.
  Philadelphia would fill a hole for Moe’s, which now has multiple outlets in the Harrisburg and central Jersey markets, plus  outposts in Deptford, North Wales and Wilmington.

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Joseph N. DiStefano
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