Tag Archives: stores

Outdoor Camping World to Re-Open Almost 70 Look Mountain Stores

Outdoor Camping World Holdings Inc. (NYSE: CWH)today announced the initial list of former Glimpse Mountain retailers it prepares to re-open in 2018, bucking the current pattern of more shop closures. The shops will re-open as Look Outdoors.

Lincolnshire, IL-based Camping World was selected as the winning bidder at a bankruptcy auction for particular properties of Gander Mountain and the sale was approved in a bankruptcy court hearing in May 2017. The winning bid was about $390 million.

Gander Mountain Co. applied for bankruptcy reorganization in March 2017. At the time, it operated 166 outdoor devices and sporting goods supercenters.

“It was important to me to bring Glimpse Outdoors back to lots of wonderful neighborhoods across the country since the employees are excellent and the shops provide terrific products and services for the community,” said Marcus Lemonis, chairman of Outdoor camping World Holdings.

Lemonis formerly stated he prepared to operate just those stores with a clear course to profitability. However he likewise shared the objective of operating 70 or more areas based on, among other things, the ability to work out acceptable lease terms with property owners.

Following months of negotiations and renovating existing areas, the company prepares to open 69 places by May 2018.

“We feel this list of locations is really strong and ready to be working in the coming months,” Lemonis stated. “Two locations have actually already opened, two more are slated to open next week, and others will begin opening at a very rapid pace over the next couple of months.”

In addition to the locations recognized listed below, Gander Outdoors said it is currently pursuing extra areas for growth and expects to reveal more areas and markets in the near term.

The following areas will be reopened as Glimpse Outdoors:
Florence, AL
Opelika, AL
Parker, CO
Ocala, FL
Pensacola, FL
St. Augustine, FL
Tampa, FL
Albany, GA
Cedar Rapids, IA
O’Fallon, IL
Peoria, IL
Rockford, IL
Springfield, IL
Ft. Wayne, IN
Greenfield, IN
Indianapolis (Castleton), IN
Wichita, KS
Bowling Green, KY
Paducah, KY
Coldwater, MI
Flint, MI
Kalamazoo, MI
Marquette, MI
Port Huron, MI
Saginaw, MI
Traverse City, MI
Utica, MI
Baxter, MN
Bemidji, MN
Forest Lake, MN
Hermantown (Duluth), MN
Lakeville, MN
Chesterfield, MO
Fayetteville, NC
Gastonia, NC
Greensboro, NC
Monroe, NC
Mooresville, NC
Winston-Salem, NC
Kingston, NY
Syracuse, NY
Tonawanda, NY
Coach, OH
Niles, OH
Chambersburg, PA
Greensburg, PA
Johnstown, PA
Scranton, PA
Williamsport, PA
York, PA
N. Charleston, SC
Jackson, TN
Amarillo, TX
Ft. Worth, TX
Spring, TX
Tyler, TX
Fredericksburg, VA
Roanoke, VA
Appleton, WI
Baraboo, WI
Deforest (Madison), WI
Eau Claire, WI
Green Bay, WI
Janesville, WI
Kenosha, WI
Onalaska (Lacrosse), WI
Sheboygan, WI
Waukesha, WI
Wausau (Rothschild), WI

Dollar Stores Remain Retail Success Story, Continue to Defy Online Disturbance

Technique of Broadening into Untapped, Low-Density Locations Reduces Online Threat, Drives Sales Growth and Supports Store Growth

As the benefit of online shopping continues to move its growth at the expenditure of some brick-and-mortar retail areas, one corner of the standard retail market seems to be broadening along simply great: dollar stores.

Dollar General Corp. (NYSE: DG)and Dollar Tree Inc.(NYSE: DLTR) continue presenting hundreds of new stores each quarter– and both announced plans to continue to do so next year.

“With our strong shops growth we expect that 75% of the U.S. population will be within five miles of a Dollar General by the end of financial 2017,” Todd Vasos, CEO of Dollar General informed shareholders this past week. “Our range of formats, from 3,500 square feet to 16,000 square feet, enables Dollar General to catch growth opportunities in the locations varying from rural to metro place.”

Dollar General stated it completed 634 property jobs last quarter, including opening 470 new stores.

In 2018, Dollar General said it expects to open 900 new shops, redesign 1,000 existing store places, and relocate about 100 stores. That has to do with 2,000 tasks in overall– essentially the very same speed as the last two years, far surpassing projected shop openings by many merchants.

“With solid brand-new shop productivity, we have the chance to significantly increase our fully grown store remodel program with the objective to touch each location roughly every seven to 10 years,” Vasos stated.

Dollar General competing Dollar Tree has actually been on a similar growth course, however with less store openings. It opened a total of 169 brand-new shops, 99 Dollar Tree and 70 Family Dollars this past quarter. It relocated or broadened 23 shops, 19 Dollar Trees and 4 Family Dollars. It renovated 191 Household Dollar shops for a total of 383 tasks throughout the quarter.

“We ended our third quarter this year with a total of 565 more Dollar Tree shops than the very same time one year back,” stated Gary Philbin, president of Dollar Tree.

“We are a business that’s going to grow numerous stores each year when other merchants are possibly pulling back. I believe it’s still an excellent chance for us to provide worth and benefit in this sector, which I think is the location to be,” he stated.

Shares of Dollar Tree and Dollar General are up about +20% and +23% year over year, respectively, according to Nicholas Supple, a quantitative analyst with CoStar Portfolio Technique. Strengthening the boost in share price, both stores published quarterly outcomes revealing same-store sales growth about 2%.

“Both stores continue to depend on brick-and-mortar expansion to fuel this growth, without a substantial online existence,” Supple stated.

Together, these 2 brand names rent an approximated 260 million square feet of retail space in the United States

That’s an excellent amount– especially thinking about the typical shop size is below 10,000 square feet, making for a total of over 28,000 retail locations in the USA alone.

“Dollar stores have had the ability to accomplish this growth and prevent the rates war seen in between big box grocers by targeting a lower-income and low-density sector of the market that online shops have actually not had the ability to permeate,” Supple said.

“By concentrating on (opening stores in) rural areas where shipping time and costs hinder the online purchase of everyday consumables like soap or detergent, these shops gain from a natural barrier to online entry.”

Five out-of-the-box toy stores

1. Kappa Toys With a stock worrying the classic and traditional, Kappa’s a fantastic source for equipping stuffers, from music boxes to yo-yos. Downtown Container Park, 702-302-9363; Linq Boardwalk, 702-832-9504.

2. The Lego Shop Everything fits together, from the huge Millennium Falcon set to the tiniest mini-figure. If you like, you can purchase loose bricks by the cup. Style Program Shopping Mall, 702-734-0290.

3. Rogue Toys Star Wars action figures, My Little Pony dolls, rare lunch boxes … Rogue is the location for nostalgic gifts for kids who matured against their will. Multiple locations, roguetoys.com.

4. The Toy Box There’s something for all your pals and relations: Play-Doh sets for toddlers, Nerf shooters for preteens and Pok√©mon goodies for everybody. Downtown Summerlin, 702-776-8690.

5. Toy Shack A treasury of collectible toys, from the mainstream to the unknown. You’ll find Hot Wheels vehicles, Funko bobbleheads and anime figures you never ever understood existed. Neonopolis, 702-538-8600.

Las Vegas freezes applications for stores to sell dogs

As Soon As Retail Darlings, Off-Price Dept. Stores Rethinking Area Methods as Sales Decrease

Likewise rapid growth and convenience of e-commerce shopping is also taking its toll on off-price store sales, as it has with other bricks-and-mortar formats./ ul>>

.” The web has reproduced a smarter consumer: she knows where to obtain the very best cost; she understands if a bag is produced the outlets– or is the genuine offer. Often she cares, in some cases she does not, but she does desire a great experience, whether it is easy parking, unique stores she can’t discover everywhere, or remarkable dining,” said Soozan Baxter, principal of Soozan Baxter Consulting, a New York-based, landlord-focused retail advisory firm. “She likewise desires a wise, educated and engaged store associate. If she cannot get that, she gives up and goes to another store, or stores online.”

How this all plays out is still prematurely to tell, but it appears to be clear that merchants are reassessing their off-price organisation models as far as store places are worried, kept in mind KBRA.

Macy’s just recently revealed a modification in area technique for its Macy’s Backstage concept with all of the revealed openings for new Backstage stores slated to be located within full-line Macy’s shops rather than as standalone shops.

” We are pleased with the efficiency of our Backstage stores within our Macy’s shops and are thrilled by the capacity of this concept. It is the only mall-based, off-price idea which we now are realizing gives us a competitive advantage,” Karen M. Hoguet, CFO of Macy’s informed analysts during the company’s recent quarterly profits teleconference. “Details are still being developed, however we prepare to broaden it strongly next year.”

Macy’s executives added that they prepared to start experimenting by positioning Backstages in “bigger doors” in the future, and were taking a look at various parts of the online shops where they could be put.

It’s a wise concept, Baxter stated. “Having Macy’s include its off-price channel into its stores is clever, considered that its off-price concept name does not have a lot of brand name equity. Their client is utilized to the ubiquitous couponing in its stores, and much of its boxes are over-sized and could use a retailing refresher.”

On the other hand, Nordstrom is choosing to increase the distance in between its Nordstrom Rack areas and the seller’s full-line offerings, inning accordance with KBRA’s analysis.

Around 42% of its off-price stores are presently found within 5 miles of the nearest full-line Nordstrom store. THta’s changing as just 17% of new Rack stores set up to open will lie that close to an existing Nordstrom.

While the change in distance in between shops could be the result of readily available realty, it could also signal that the merchant is aiming to mitigate the capacity for cannibalization and brand dilution, inning accordance with KBRA.

” Having plans that were now in hindsight too aggressive triggered our groups to have to pull back a bit,” Blake Nordstrom, president of Nordstrom’s told experts in a current teleconference. “We think that culminated a little bit in that downward trend that we saw in the third quarter.”

Nordstrom Rack stays a meaningful part of business, he added.

” In general, our total off-price company is $5 billion,” he said. “It’s a healthy company and we see lots of opportunities and we are encouraged by it.”

On The Other Hand, Neiman Marcus seems taking steps to minimize sales cannibalization and brand dilution for its Last Call off-price shops. This past September, the high-end seller closed 10 of its off-price shops. Eight were within markets where it had two or more full-line Neiman Marcus stores, including in Philadelphia, Detroit, Atlanta, Chicago, Dallas, San Francisco and Washington, DC.

” This choice is about enhancing our Last Call shop portfolio to deliver the very best customer service and maximizing resources to support brand-new initiatives for our full-line Neiman Marcus and Bergdorf Goodman channels. We are buying our strengths as the clear leader of high-end luxury retail,” said Elizabeth Allison, senior vice president, Last Call told the Dallas Morning News, where the seller is based.

Closing of Weakest Stores by Retailers Eventually Expected to Benefit US Shopping Mall Efficiency

Record Levels of Store Closures Could have Healing Effect as Weakest Centers Close Down or Get Repurposed

Developers of mixed-use projects such as Sunnyvale Town Center in Silicon Valley, which will consist of 900,000 square feet of brand-new shopping space, are intending to use continued demand for more recent high-end retail properties.

The United States nationwide retail job rate ticked up 10 basis points for the second consecutive quarter to reach 5.2% in the 3rd quarter of 2017 as retail leasing and net absorption slowed regardless of continuing improvement in the more comprehensive economy and growing customer spending power, inning accordance with CoStar experts.

The slower leasing efficiency in the 3rd quarter shows the continuous shop closures announced by a number of significant sellers. In total, merchants have actually revealed a record 101 million square feet of shop closings this year, on top of 83 million square feet of shop space that went dark in 2016.

However, despite signs of slowing down renting demand for the United States retail market, some analysts speculate that record levels of store closures will ultimately have a ‘healing impact’ on the marketplace as the weakest shopping mall shut down or are repurposed.

They argue that current weakening of principles does not always justify the end ofthe world situation suggested by bleak headings alerting of a “retail armageddon” or “Armageddon, and the concentrate on the ongoing purge masks the best-performing centers, a number of which are adding shops and keeping occupancy.

” Store closures have ended up being a headline danger, and I believe it is impacting the capital markets and prices of retail property. However for shopping center owners and financiers, these closures might be a needed ways to recovering the market,” observed CoStar director of U.S. retail research Suzanne Mulvee in presenting the most recent quarterly information throughout CoStar’s State of the Retail Market Q3 2017 Review and Outlook.

” Customer costs (at the closed shops) needs to go someplace, typically to another physical retailer, so we take a look at this pattern as somewhat positive for the general market,” Mulvee stated. Surviving shops in the right locations “will eventually come through this period even stronger than previously,” added CoStar handling consultant Ryan McCullough.

One major concern contributing to issues on Wall Street is the shocking amount of financial obligation held by retail chains, incurred in part throughout the wave of leveraged buyouts by private-equity companies recently. For example, huge shoe seller Payless Inc., which filed for Chapter 11 insolvency in April, sustained more than $700 million in brand-new debt, including buyout borrowings, after being acquired in 2012 by Golden Gate Capital and Blum Capital Partners.

” If sellers can’t re-finance the financial obligation at sensible rates, they will be forced into bankruptcy, which provides cover to break leases,” said Mulvee. “Capital is still favorable on premium retail, however it is becoming a lot more bearish on weaker retail.”

Looking Beyond Shop Closures

“When we deduct those non-competitive shopping malls with vacancies of 40% or higher, we see a far different picture,” McCullough stated. “It’s the distressed homes that lose a key tenant and set into movement an exodus of defections,” skewing the retail job picture, he added.

U.S. sellers anticipate to open nearly 4,100 more stores than they will close in 2017, a conveniently neglected truth in many news headings focused primarily on the variety of shop closings, inning accordance with “Decluttering the Retail Landscape,” a recent report by TH Realty. Competition from online sales is pushing weaker sellers out of company faster than before, however the report presumes that should ultimately result in a financially healthier and more versatile set of sellers and shopping centers that offer more appealing experiences and a compelling item mix for shoppers.

The best-performing shopping malls and shopping centers will continue to attract renters and retain value. Average and lower-performing residential or commercial properties will continue decline and ultimately close or be repurposed, inning accordance with the report.

“Modifications in retailing remain in their early phases, yet doomsday situations sprinkled across news headings are being theorized to the whole market instead of to its most vulnerable segments,” notes Melissa Reagan, head of Americas research for TH Property. “While we expect online retail sales will continue to grow in the coming years, we also believe customers will value the experience of shopping in a physical store.”

Manhattan sellers are beginning to get that message, as the long decrease in retail leas appears to be leveling off and activity is starting to pick up once again, said Robin Abrams, vice chairman of retail and principal at Eastern Consolidated. Abrams heads the Abrams Retail Techniques group, which concentrates on retail leasing and consulting.

Rental rates became extremely aggressive by 2014 at a time when renters were reporting spotty sales performance and more brands were contending for the very same client base, Abrams stated.

“Where New York goes, so goes the nation,” she stated. “Retailers now comprehend they need to have great item and give individuals a need to concern their shops. Point of sale is most important, whether that’s online or in the physical shops.”

Landlords are now ready to secure shorter terms and be more versatile and creative to accommodate occupants, which is starting to cause deal making, Abrams said.

“There’s not as much lease upside, but at least we have activity in the market,” Abrams stated.

Closing of Weakest Stores by Retailers Expected to Ultimately Benefit United States Shopping Center Efficiency

Tape-record Levels of Store Closures Could have Recovery Result as Weakest Centers Shut Down or Get Repurposed

Designers of mixed-use tasks such as Sunnyvale Town Center in Silicon Valley, which will include 900,000 square feet of brand-new shopping space, are intending to use ongoing need for more recent high-end retail homes.

The U.S. nationwide retail vacancy rate ticked up 10 basis points for the 2nd consecutive quarter to reach 5.2% in the 3rd quarter of 2017 as retail leasing and net absorption slowed regardless of continuing improvement in the broader economy and growing consumer spending power, according to CoStar experts.

The slower leasing performance in the 3rd quarter reflects the continuous shop closures announced by numerous significant retailers. In total, sellers have revealed a record 101 million square feet of store closings this year, on top of 83 million square feet of store area that went dark in 2016.

However, regardless of signs of slowing down renting need for the United States retail market, some analysts hypothesize that record levels of store closures will ultimately have a ‘recovery impact’ on the market as the weakest shopping mall closed down or are repurposed.

They argue that recent weakening of principles does not necessarily validate the end ofthe world circumstance recommended by dismal headlines warning of a “retail apocalypse” or “Armageddon, and the focus on the ongoing purge masks the best-performing centers, many of which are including stores and keeping tenancy.

” Shop closures have actually ended up being a heading threat, and I believe it is affecting the capital markets and rates of retail residential or commercial property. But for shopping mall owners and investors, these closures might be an essential methods to healing the marketplace,” observed CoStar director of U.S. retail research study Suzanne Mulvee in presenting the most recent quarterly information during CoStar’s State of the Retail Market Q3 2017 Evaluation and Outlook. “Capital is still favorable on top quality retail, however it is becoming even more bearish on weaker retail,” she added.

” Customer spending (at the closed shops) needs to go somewhere, normally to another physical retailer, so we take a look at this trend as somewhat positive for the total market,” Mulvee stated. Surviving shops in the ideal areas “will eventually come through this duration even more powerful than in the past,” added CoStar handling consultant Ryan McCullough.

Looking Beyond Store Closures

“When we deduct those non-competitive shopping centers with jobs of 40% or greater, we see a far various picture,” McCullough said. “It’s the struggling homes that lose a crucial tenant and set into motion an exodus of defections,” that skew the retail job image, he added.

U.S. merchants anticipate to open almost 4,100 more shops than they will close in 2017, a conveniently ignored reality in many news headings focused primarily on the variety of shop closings, according to “Decluttering the Retail Landscape,” a recent report by TH Real Estate. Competitors from online sales is pressing weaker merchants out of company faster than ever before, however the report posits that need to eventually result in a financially much healthier and more versatile set of retailers and shopping mall that supply more enticing experiences and an engaging item mix for consumers.

The best-performing shopping centers and shopping centers will continue to draw in tenants and retain value. Typical and lower-performing residential or commercial properties will continue lose value and ultimately close or be repurposed, according to the report.

“Modifications in selling remain in their early stages, yet end ofthe world situations splashed throughout news headlines are being theorized to the entire market instead of to its most susceptible segments,” notes Melissa Reagan, head of Americas research study for TH Property. “While we anticipate online retail sales will continue to grow in the coming decades, we also believe consumers will value the experience of shopping in a physical store.”

Manhattan sellers are starting to get that message, as the long decline in retail rents appears to be leveling off, with activity beginning to pick up again, said Robin Abrams, vice chairman of retail and primary at Eastern Consolidated. Abrams heads the Abrams Retail Strategies group, which concentrates on retail leasing and consulting.

Rental rates ended up being overly aggressive by 2014 at a time when renters were reporting spotty sales efficiency and more brand names were competing for the same customer base, Abrams said.

“Where New York goes, so goes the nation,” she said. “Sellers now comprehend they have to have excellent product and give people a reason to concern their stores. Point of sale is essential, whether that’s online or in the physical shops.”

Landlords are now going to secure much shorter terms and be more versatile and innovative to accommodate tenants, and that is starting to induce deal making, Abrams said.

“There’s not as much lease upside, but at least we have activity in the marketplace,” Abrams stated.

Kroger Considering Sale of 784 C-Stores in 18 States

Kroger Co.(NYSE: KR) is exploring options for its $4 billion corner store service, consisting of a potential sale, as the supermarket business aims to ward off the threat to its brick-and-mortar grocery organisation from Amazon.com and other rivals aiming to get into the lucrative U.S. grocery company.

The Cincinnati-based company’s corner store service consists of 784 c-stores employing 11,000 people in 18 states under the Turkey Hill Minit Markets, Loaf ‘N Container, KwikShop, Tom Thumb and QuickStop banners, consisting of 68 franchise operations.

Grocery store fuel centers or Turkey Hill Dairy locations are not included in this evaluation, revealed during its financier conference today as part of a strategy by Kroger to increase investor worth by revitalizing its organisation as Amazon makes a major play in the grocery service following its $13.7 billion acquisition of Whole Foods.

Kroger at first reported that its c-store operations generated earnings of $1.4 billion and sold 1.2 billion gallons of fuel in 2016, with 62 successive quarters of identical shop sales growth. The company later released a clarification, asserting that the $1.4 billion shown only inside sales. Including fuel, the business branch generated $4 billion in total sales in 2015.

“We comprehend that today’s marketplace is moving quickly,” stated Kroger CEO and Chairman Rodney McMullen. “Kroger’s success has actually constantly depended on our capability to proactively deal with modifications by focusing relentlessly on our clients. We have the scale, the information, physical assets and human connection to win.”

The relocate to check out a sale comes as the nation’s big convenience store chains are consolidating as customers buy more of their food and other grocery alternatives at triple-net convenience stores, an often-overlooked section of U.S. retail.

The Association for Benefit and Fuel Selling (NACS) reported previously this year that the number of c-stores in the U.S. increased 0.2% in 2016 from the prior year to 154,535, accounting for more than $575 billion in sales.

While roughly 80% of c-stores sell fuel, lower gas rates have actually helped generate more foot traffic to convenience stores, with more drivers on the roadway and stopping into the shop throughout fill-ups to buy a growing mix of product.

“Thinking about the current premium multiples for convenience stores, we feel it is our commitment as a management group to undertake this review,” included Mike Schlotman, Kroger’s executive vice president and CFO.

The company has actually employed Goldman Sachs & & Co. to identify, evaluate and evaluate the choices.

Albertsons to Sell, Lease Back 71 US Stores for $720 Million

Albertsons Cos. has actually entered into a contract to offer and rent back 71 of its stores to a Delaware-based limited-liability entity in a transaction planned to raise up to $720 million.

C.F. Albert LLC will buy the residential or commercial properties and lease each one back for a preliminary term of Twenty Years, with Albertsons booking 8 alternatives for five-year lease renewals, inning accordance with a filing by Albertsons with the U.S. Securities and Exchange Commission.

The business anticipates the sale-leaseback of the homes, subject to traditional closing conditions, will nearby Dec. 2.

The filing does not consist of a list of the properties associated with the sale leaseback contract, but lists 15 different selling entities connected with a series of big food and pharmacy chains, including Safeway, Jewel, Randall’s, Vons, Dominick’s and Wildcat.

Sales-leasebacks have in current years been a popular car for grocery chains and other holders of net-lease residential or commercial properties to monetize their owned-store portfolios.

In 2010, Cole Credit Residential or commercial property Trust III Inc. acquired Albertson’s interest in 33 retail residential or commercial properties comprising 1.9 million square feet throughout the United States for $276 million.

Walgreens Wins FTC Approval of Downsized Deal to Buy 1,932 Rite Help Stores

Fourth Effort is an Appeal for Deerfield, IL-Based Walgreens, Which Would End up being Country’s Largest Pharmacy Chain with More than 10,000 US Stores

After once again cutting the number of shops and other properties to please regulatory concerns, Walgreens Boots Alliance Inc. (Nasdaq: WBA)received federal regulatory approval to get 1,932 Rite Aid Corp. (NYSE: RAD) shops and associated properties for$4.38 billion cash.

Deerfield, IL-based Walgreens said early Tuesday it protected clearance for a modified offer under which it will buy 254 fewer Rite Help stores than under a previous proposal in June which amounted to $5.18 billion for 2,186 stores.

The modified proposition in June was likewise a sharply lowered version of Walgreens’ initial October 2015 takeover deal of Rite Help for about $9.4 billion for 4,600 stores, an offer valued at more than $17 billion consisting of financial obligation. The transaction instantly drew analysis from antitrust regulators and 2 subsequent attempts to work out scaled down offers failed.

Walgreens next month will start acquiring the Rite Aid shops, mostly situated in the northeast and southern U.S., and complete the purchases in the spring of 2018.

Under the customized arrangement worked out with Camp Hill, PA-based Rite Aid and the Federal Trade Commission, Walgreens will have about 10,000 places in the U.S., edging past rival CVS Health, which will have 9,600 shops. Rite Help will maintain more than 2,500 stores. The offer likewise includes 3 warehouse in Dayville, CT, Philadelphia, and Spartanburg, SC, and associated inventory. The shift of the warehouse to Walgreens will not start for at least 12 months, the business stated.

“Integrating Walgreens’ retail drug store network with a strong portfolio of Rite Aid places is anticipated to assist us accomplish boosted, sustainable development while enabling us to broaden our reach and supply greater access to practical, cost effective care in more regional communities across the United States,” stated Walgreens Boots Alliance Executive Vice Chairman and CEO Stefano Pessina.

Walgreens expects annual synergies from the new transaction of more than $300 million, which are anticipated to be totally understood within 4 years of the preliminary closing, derived primarily from procurement, expense savings and other operations. The company does not anticipate the deal to have a substantial effect to its adjusted diluted net revenues per share in its fiscal year ending Aug. 31, 2018.