North Apple Valley Industrial Specific Plan area ready to expand with more warehouses
Hidden away from most residents is the North Apple Valley Industrial Specific Plan area where work is about to begin on a large warehouse distribution center.
ARCO Design/Build and Lecangs are constructing the 1.2-million-square-foot center at Dale Evans Parkway and Lafayette Street for Loctek Ergonomic Technology Corporation, a Lecangs company.
Loctek designs and manufactures branded ergonomic products for FlexiSpot, which has 12 warehouses worldwide with a total storage area of just over 3.7 million square feet, according to the company.
The Lecangs project sits adjacent to the vacant 1.35-million-square-foot Big Lots Distribution Center, which opened in 2020 and shuttered in 2024 due to bankruptcy.
Several people who drove past the Lecangs site told the Daily Press they thought the project was an ARCO gas station due to the word ARCO displayed on banners at the property.
'When you're zipping along and seeing a banner with the word 'ARCO,' you immediately think of AM/PM and ARCO gas,' said Regina Taylor of Apple Valley. 'I had no idea they were building a warehouse.'
Town officials shared that 11 a.m. Wednesday, March 26, is the official groundbreaking date for the Lecangs project.
The North Apple Valley Industrial Specific Plan area is located near Bell Mountain and Interstate 15.
The Town Council on Feb. 25, held a public hearing to discuss and eventually approve a tentative parcel map for the proposed Cordova Complex, an e-commerce distribution and warehouse center in the same industrial area.
The overall project includes the Cordova Complex and Quarry at Pawnee Warehouse, which would sit on the southwest quadrant of Cordova and Navajo roads, and the northwest quadrant of Flint and Cordova roads, according to the state of California.
The project includes the construction and operation of nearly 3 million square feet of industrial warehouse space on two sites, just north of the Walmart Distribution Center.
The Cordova Complex site on Cordova Road would include roughly 1.5 million square feet of industrial warehouse space on an approximately 87-acre site.
The Cordova site would include 10,000 square feet of office space, 266 roll-up truck loading dock doors, and 1,572 parking spaces.
The Quarry at Pawnee site would include approximately 1.4 million square feet of industrial/warehouse space on an approximately 76-acre site. The project would include associated improvements such as loading docks, truck and vehicle parking, and landscaped areas within both project sites.
The project also includes abutting right-of-way dedication and improvements and utility improvements.
Daily Press reporter Rene Ray De La Cruz may be reached at RDeLaCruz@VVDailyPress.com. Follow him on X @DP_ReneDeLaCruz
This article originally appeared on Victorville Daily Press: North Apple Valley Industrial Specific Plan area ready to expand
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 days ago
- Yahoo
ARCO Q1 Earnings Call: Flat Sales and Margin Pressure Amid Challenging Consumer Environment
Fast-food chain Arcos Dorados (NYSE:ARCO) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $1.08 billion. Its GAAP profit of $0.07 per share decreased from $0.14 in the same quarter last year. Is now the time to buy ARCO? Find out in our full research report (it's free). Revenue: $1.08 billion (flat year on year) Adjusted Operating Income: $45.15 million vs analyst estimates of $52.01 million (4.2% margin, 13.2% miss) Adjusted EBITDA Margin: 8.5% Locations: 2,439 at quarter end, up from 2,381 in the same quarter last year Same-Store Sales rose 5.6% year on year (38.6% in the same quarter last year) Market Capitalization: $1.55 billion Management attributed Arcos Dorados' flat sales in Q1 to a combination of external and internal factors, including lower guest volumes across the quick-service restaurant industry, unfavorable calendar effects from Leap Day and Holy Week, and currency depreciation in key markets. CEO Marcelo Rabach noted that digital and loyalty channels remained resilient, with almost 60% of sales coming through digital platforms and a growing base of nearly 19 million monthly app users. While off-premise channels helped offset weaker in-restaurant traffic, CFO Mariano Tannenbaum highlighted that higher food and paper costs, especially in Brazil due to rising beef prices, weighed on margins. Management emphasized that operating performance improved later in the quarter, especially in March, and that Brazil and SLAD divisions provided some margin stability despite broader challenges. Looking ahead, Arcos Dorados' leadership expects an improved operating environment as the year progresses, supported by a robust marketing plan and ongoing digital initiatives. Management indicated that early Q2 sales trends, particularly in Mexico and Brazil, have strengthened as negative calendar effects subside and brand activations ramp up. CFO Mariano Tannenbaum stated, 'We expect margins for 2025 will be similar to 2024, excluding the positive impact of prior-year payroll reversals in Brazil,' as the company pursues pricing actions aligned with inflation, enhanced supplier negotiations, and continued cost discipline. CEO Marcelo Rabach expressed confidence in capturing further market share and leveraging the company's modernized restaurant base, while remaining cautious on consumer spending trends. Management identified several factors that shaped Q1 results, including digital channel growth, segment-specific consumer dynamics, and varied margin performance across regions. Digital channel penetration: The company's digital sales accounted for nearly 60% of system-wide sales, with digital platforms and the loyalty program driving customer engagement and frequency. Off-premise channels, such as delivery and mobile ordering, remained resilient as consumers pulled back on in-restaurant dining. Brazil's mixed performance: Brazil saw a modest constant-currency revenue increase but faced a soft consumer climate and heightened beef costs, which pressured margins. Marketing campaigns, including sponsorships and menu innovations, helped maintain brand preference and market share despite external pressures. NOLAD region dynamics: The NOLAD division (Mexico, Panama, Costa Rica, and others) experienced comparable sales gains in Mexico, but overall revenue was impacted by currency depreciation and weaker traffic in Panama and Costa Rica. Digital campaigns and value-focused promotions were used to maintain customer engagement. SLAD division recovery: SLAD (South Latin America Division) posted strong comparable sales growth, led by Argentina's rebound from prior economic instability and robust performance in Uruguay and Venezuela. Digital sales penetration in SLAD reached 70% in some markets, underscoring the effectiveness of ongoing digitalization efforts. Margin pressures and cost management: Rising food and packaging costs, particularly in Brazil, drove margin contraction, although management cited some relief from payroll expense efficiencies and positive royalty fee changes in other divisions. The company is prioritizing pricing adjustments and supplier negotiations to mitigate further cost headwinds. Management's outlook for the remainder of 2025 centers on digital engagement, disciplined pricing, and adaptation to shifting consumer spending patterns. Digital and loyalty expansion: Continued investment in digital platforms and the expansion of the MyMcDonald's loyalty program are expected to drive higher customer frequency and off-premise sales. Management aims to have the loyalty program active in all major markets by year-end, further increasing digital penetration. Margin stabilization strategies: Management plans to offset rising input costs through pricing actions aligned with inflation, improved supplier negotiations, and operational efficiencies, including enhanced scheduling systems. The company expects EBITDA margins to be broadly stable year-on-year, adjusted for prior-year payroll credits in Brazil. Macro and consumer headwinds: Leadership remains cautious about consumer spending, especially in Brazil and NOLAD, due to ongoing economic volatility. Management's strategy emphasizes protecting traffic through competitive pricing and promotions, with an eye on fixed cost leverage as sales volumes recover. In upcoming quarters, the StockStory team will watch closely for (1) sustained improvement in sales trends in Brazil and NOLAD as calendar effects normalize, (2) signs that margin stabilization efforts—such as pricing and supplier negotiations—are taking hold, and (3) continued momentum in digital and loyalty program adoption. The pace of restaurant openings and the ability to maintain cost discipline in a volatile macro environment will also be important indicators. Arcos Dorados currently trades at a forward price-to-sales ratio of 0.3×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
29-05-2025
- Yahoo
2 Powerball tickets worth $1.3 million sold in California
ANAHEIM, Calif. - Feeling lucky? As the nation awaits the winner of the $207 million Powerball jackpot, two lottery players in California may be $1.3 million richer. What we know According to California Lottery's website on late Wednesday night, a pair of tickets worth $1,326,260 were sold in the state. One was sold at an ARCO gas station on North Street in Newman, California while a second ticket was sold at a Ralphs on West Chapman Avenue in Orange. This comes as a drawing was held for the then-jackpot of $189 million. Below were the winning numbers for the May 28 drawing – which apparently no one got all six numbers: 23, 27, 32, 35, 59. PB: 11 The drawing for the $207 million jackpot will be held on Saturday, May 31 at 8 p.m. PT. There are $207 millions of reasons to dream, especially what you would do with the jackpot money. However, one thing all lottery winners have to take into account is the fact that their prizes will be taxed. So how much do you really get after taxes? It depends on a couple of factors: do you have to pay state taxes where you live? Will you take the lump sum payment or the annuity payout? According to Mega Millions' website, those electing to take the annuity option get one immediate payment followed by 29 annual payments. Powerball follows an identical process for paying out its jackpot winners. RELATED: Powerball payout calculator: How much would you get after taxes if you won?
Yahoo
15-05-2025
- Yahoo
Arcos Dorados Holdings Inc (ARCO) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Arcos Dorados Holdings Inc (NYSE:ARCO) reported total revenue of $1.1 billion, maintaining levels from the previous year despite challenging conditions. Digital sales accounted for almost 60% of system-wide sales in the first quarter, with notable strength in loyalty programs and mobile order and pay. The company saw a strong rebound in Argentina, contributing to a 38.7% rise in comparable sales in the SLAT division. Arcos Dorados Holdings Inc (NYSE:ARCO) has a robust marketing plan for the remainder of the year, which is expected to improve sales performance. The company has a strong balance sheet with an investment-grade rating from Fitch and no material debt maturities until 2029. First quarter consolidated adjusted EBITDA was $91.3 million, down from the previous year due to weaker local currencies and margin pressure in Brazil. Brazil's margin contraction was mainly due to higher food and paper costs from rising beef prices. The QSR industry in Brazil and NOLAD experienced reduced traffic, attributed to lower consumer purchasing power. The company faced significant headwinds from calendar effects, including Leap Day and Holy Week, impacting sales comparisons. There was a decline in first-quarter EBITDA margin due to higher food, paper, occupancy, and other expenses as a percentage of revenue. Warning! GuruFocus has detected 3 Warning Sign with ARCO. Q: Could you comment on sales trends in the early 2nd quarter of 2025, especially in Brazil and NOLAD, under a more normalized quarter in terms of calendar effects? How much of the weak comparable sales in the first quarter is attributable to negative calendar effects versus a weaker consumption environment? A: (Marcelo Raba, CEO) In NOLAD, particularly Mexico, Panama, and Costa Rica, we faced reduced traffic in the QSR industry due to calendar effects like Holy Week. However, April showed strong performance, especially in Mexico, which is a significant market for us. We see a positive outlook for NOLAD in the coming quarters. (Luisagannao, COO) In Brazil, the calendar impact was significant, but the QSR visits were down due to lower consumer purchasing power. We remained cautious with pricing, but delivery performed strongly. We expect improved performance as the year progresses. Q: How does the company see competition passing higher beef prices into prices, and when should we start seeing a recovery in margins in Brazil? A: (Mariana Tannenbaum, CFO) During the first quarter, we faced increased beef prices in Brazil, impacting margins. We expect to stabilize gross margins through pricing strategies, supplier negotiations, and revenue management initiatives. We anticipate margins for 2025 to be similar to 2024, excluding last year's payroll expense reversals and credits in Brazil. Q: What is the company's perception of recent consumption trends in Argentina, and how can we think about the region's outlook for 2025? A: (Luisagannao, COO) Argentina showed a strong rebound due to a more stable economic environment. We expect sustained growth in volumes, sales, and margins throughout the year. The market team is doing an excellent job, and we anticipate continued positive performance in Argentina and the SLAT region. Q: Can you expand on why you only expected a 10 basis points decline in the royalty expense on a consolidated basis? A: (Marcelo Raba, CEO) The new MFA with McDonald's set a 6% contract royalty rate, eliminating the growth support concept. Brazil now pays 6% of sales, while NOLAD and SLAT pay 6% instead of 7%. This results in a 10 basis points reduction in royalties, providing a small positive impact on EBITDA margins. Q: Can you talk about consumption in Brazil and whether there are signs of improvement? A: (Marcelo Raba, CEO) The leap day had a 110 basis points impact on comparable sales, and Holy Week affected Mexico significantly. While trends are improving, the consumption environment remains volatile. We focus on maintaining customer traffic and offering competitive promotions to build a sustainable business. Despite challenges, we are gaining market share and are well-positioned for future growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
