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Old 10-26-2016, 03:47 PM
 
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Townhouse builders bought by Japanese company, not sure if it makes much difference here or not, but I suppose it could

http://www.bizjournals.com/washingto...ebuilders.html
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Old 10-27-2016, 07:54 AM
 
Location: It's in the name!
7,069 posts, read 9,489,925 times
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Quote:
Originally Posted by DoughLow805 View Post
Townhouse builders bought by Japanese company, not sure if it makes much difference here or not, but I suppose it could

http://www.bizjournals.com/washingto...ebuilders.html
YEah. I saw that. Very interesting. Hopefully they will be just owners and let the builder do its thing.
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Old 11-05-2016, 12:56 PM
 
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The comparison of the speed with which the new Harris Teeter in Bowie got built and opened is not reassuring......

Some changes at the top of the WFM organization. Joint CEO, and CFO are out.......


Whole Foods on Wednesday said it was eliminating its co-CEO structure, with John Mackey to take over as sole CEO effective Dec. 31 and Walter Robb remaining as a member of its board of directors.
Quote:
Mackey and Robb had served as co-CEOs for six years.

The company also announced Wednesday that EVP and CFO Glenda Flanagan would retire from the role after 29 years at the end of the coming 2017 fiscal year, and that Mary Ellen Coe, VP of sales and product operations for Google, has joined the Whole Foods Market board of directors.

Those announcements came as the retailer posted fourth-quarter results that were below analyst estimates, with comparable-store sales for the 12-week quarter falling by 2.6% on a 4.2% traffic decrease at its stores. The comp decline exceeded consensus estimates of a 2.1% dip, although total sales of $3.5 billion met expectations. Sales were up by 1.7% from the same period last year.

Net income of $88 million, or 28 cents a share, increased by 57.1% from the same period last year. The EPS figure was higher than the 24 cents analysts had anticipated.
Whole Foods said its comp decline had slowed through the first weeks of the current first quarter, showing a 1.6% dip through Oct. 30.

Robb, a 25-year veteran of Whole Foods, will remain on the board and continue to serve as chairman for both Whole Kids Foundation and Whole Cities Foundation.

“It is impossible to convey what Walter has done for Whole Foods Market since he joined us in 1991,” Mackey said in a statement. “His incredible passion for retail and sense of the customer makes him the most extraordinary retailer I’ve had the privilege to work with. During his 25 years of leadership, Walter has been an advocate for the Whole Foods Market culture and a champion for our Team Members. His genuine love for our mission and our team members truly reflects what it means to be a conscious leader.”
Flanagan, whom Whole Foods said was the longest ever serving female CFO in the Fortune 500, will retire from the role after 29 years at the end of the 2017 fiscal year. She will continue to serve the company in a senior advisor capacity.

“Glenda joined Whole Foods Market in 1988 and has helped guide us through significant growth from six stores to 464 stores and more than $15 billion in sales today,” said Mackey and Robb in a statement. “She has been an outstanding CFO. Her intelligence, wisdom, business acumen, kindness, and integrity have been at the heart of everything Whole Foods Market has done and accomplished over the past 28 years. Glenda is deeply loved and respected by us and everyone at Whole Foods Market who has had the opportunity to know her.”
For fiscal 2017, Whole Foods said it was targeting sales growth of 2.5% to 4.5% and comps in the range of -2% to flat. It said it intended to grow square footage by 6% during the year reflecting 30 new stores including six relocations and four new 365 stores.
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Old 11-05-2016, 01:08 PM
 
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Changes at WFM not really surprising given the sentiment expressed by a panel of industry analysts a few weeks ago. Here's an excerpt......


Quote:
When it comes to Whole Foods Market’s legacy business, these days it seems to be all bad news.

Profit and comparable store sales have fallen as conventional retailers like Kroger and Costco have dramatically expanded natural and organic product offerings, obviating the need for shoppers to visit a specialty store like Whole Foods. In July, Whole Foods announced year-to-date net income fell 12.5%, while sales rose 2.3% and comps were down 2.4%.

On top of that, the retailer has failed to shake the “Whole Paycheck” perception, and has suffered from a series of image issues, including allegations of overcharging in New York stores.

Though the retailer’s new small format concept 365 by Whole Foods Market has so far impressed industry observers, it has also sparked fears of cannibalization, with prices at 365 stores coming in 15% to 20% lower than at legacy stores.

Industry analysts at SN’s 21st Annual Financial Analysts Roundtable last month said Whole Foods’ falling comps, more price competition, labor cuts in stores and an overly aggressive store growth plan could spell disaster if the retailer can’t turn things around.

“I mean they’re just not on a sustainable path. This company is going to have to be restructured unless comps turn positive, but there’s no catalyst for it,” said Scott Mushkin, senior retail/staples analyst, Wolfe Research.
“I think even assuming a modest level of gross margin investment — which is a realistic expectation over the foreseeable future — [with] negative comps [and] some SG&A deleverage — that kind of combination could be really catastrophic,” added Ajay Jain, senior analyst at Pivotal Research, New York.

Analysts agreed Whole Foods was making the problem worse by cutting in-store labor in order to reduce costs.
“I think management is really shocked at this slowdown in comps and they’ve got all these service departments and they cut out some man hours in the stores,” said Chuck Ceranksoky, analyst with Northcoast Research, Cleveland. “It’s a little bit like Walmart did a few years ago. Then your comps get even worse because it’s not the experience the customer is used to. This is unusual ground for Whole Foods.”

Yet, the analysts haven’t written off Whole Foods completely.

“Whole Foods, however, has a great brand so we think it can be rescued, and we especially believe that the company’s urban stores still do very well,” said Mushkin.

In order to get out of its rut, Mushkin said Whole Foods needs to get basic items priced right, slow down store growth and per
haps close underperforming locations and renew its commitment to in-store labor.
“Then, 365 becomes icing on the cake if the economics work because I do think it’s potentially a good format,” Mushkin added.
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Old 11-05-2016, 09:56 PM
 
340 posts, read 372,188 times
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Quote:
Originally Posted by CBMD View Post
Changes at WFM not really surprising given the sentiment expressed by a panel of industry analysts a few weeks ago. Here's an excerpt......


haps close underperforming locations and renew its commitment to in-store labor.
“Then, 365 becomes icing on the cake if the economics work because I do think it’s potentially a good format,” Mushkin added.
I'm not sure what it is, but are you the official Riverdale Park Station hater? Plaza envy? You bring all the doubt
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Old 11-06-2016, 12:18 PM
 
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Curious what you all think of the home prices at RPS being offered from Stanley Martin - starting at $415K for a 2BR/1BA, 1800 SF, 16' town. At least EYA down the street offered 3BR/2BA on their 16' towns years back, for a much more reasonable price point. Can the local market support that?

Ryan is being very aggressive too at Editor's Park (PG Plaza), with the 16' Clarendon model starting in the "upper 400s" and the same condos they have at Greenbelt Station nearly $65K higher.
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Old 11-06-2016, 05:33 PM
 
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Originally Posted by DoughLow805 View Post
I'm not sure what it is, but are you the official Riverdale Park Station hater? Plaza envy? You bring all the doubt
Did you find anything false, or incorrect in my post?
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Old 11-06-2016, 05:37 PM
 
1,830 posts, read 1,638,969 times
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Quote:
Originally Posted by Heavensbee View Post
Curious what you all think of the home prices at RPS being offered from Stanley Martin - starting at $415K for a 2BR/1BA, 1800 SF, 16' town. At least EYA down the street offered 3BR/2BA on their 16' towns years back, for a much more reasonable price point. Can the local market support that?

Ryan is being very aggressive too at Editor's Park (PG Plaza), with the 16' Clarendon model starting in the "upper 400s" and the same condos they have at Greenbelt Station nearly $65K higher.
Ya gotta pay extra for proximity to Metro, DC, inside the Beltway etc. Value is only relative to similar developments.

Personally, if I'm asked to pay a premium for proximity to Metro, I'd probably want more amenities also within walkable distance.
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Old 11-06-2016, 09:48 PM
 
662 posts, read 775,368 times
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Quote:
Originally Posted by Heavensbee View Post
Curious what you all think of the home prices at RPS being offered from Stanley Martin - starting at $415K for a 2BR/1BA, 1800 SF, 16' town. At least EYA down the street offered 3BR/2BA on their 16' towns years back, for a much more reasonable price point. Can the local market support that?

Ryan is being very aggressive too at Editor's Park (PG Plaza), with the 16' Clarendon model starting in the "upper 400s" and the same condos they have at Greenbelt Station nearly $65K higher.


It's not surprising given the fact that people are paying for proximity and the market has increased since the EYA townhomes were built. I think they're building a bridge to the metro. A grocery store and restaurants will be there. You will not really need a car. It sounds like the living rooms, dining rooms will be very large and open which is how people live these days.

However some of those EYA homes do not go for asking or for more than the owners paid for them when purchased. I have watched those sales. The SF homes in Riverdale Park are less expensive. So if I were looking, I would buy a SFH but I am a SFH person.

In College Park they're building new homes starting at 599k so the pricing seems in line with that. There is that "Whole Foods premium" where millenials will pay for the cachet of being near that store. Typically where there is a WF there are other higher-end stores.

Now Editor's Park..idk if I would want to live that close to a Home Depot. And I have zero service around there so I know that part of town is not attractive to me. You can walk to that Giant but that Giant is awful. The Safeway is much better. But you will be across from PG Plaza which they plan on refacing and a lot of other retail.

These homes are still much much less than what you would find in DC and in MoCo for such metro proximity.

Last edited by lookingbutnotlost; 11-06-2016 at 10:00 PM..
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Old 11-07-2016, 03:22 PM
 
340 posts, read 372,188 times
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Quote:
Originally Posted by lookingbutnotlost View Post
It's not surprising given the fact that people are paying for proximity and the market has increased since the EYA townhomes were built. I think they're building a bridge to the metro. A grocery store and restaurants will be there. You will not really need a car. It sounds like the living rooms, dining rooms will be very large and open which is how people live these days.

However some of those EYA homes do not go for asking or for more than the owners paid for them when purchased. I have watched those sales. The SF homes in Riverdale Park are less expensive. So if I were looking, I would buy a SFH but I am a SFH person.

In College Park they're building new homes starting at 599k so the pricing seems in line with that. There is that "Whole Foods premium" where millenials will pay for the cachet of being near that store. Typically where there is a WF there are other higher-end stores.

Now Editor's Park..idk if I would want to live that close to a Home Depot. And I have zero service around there so I know that part of town is not attractive to me. You can walk to that Giant but that Giant is awful. The Safeway is much better. But you will be across from PG Plaza which they plan on refacing and a lot of other retail.

These homes are still much much less than what you would find in DC and in MoCo for such metro proximity.
I agree with everything in this post, except that the Giant is awful, my family still primarily shops at that Giant over Safeway. We shop at both, but big trips to the store are always at Giant. Giant could use a facelift, and may get one too as all these other projects start to get underway.
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