Latest news with #EastCoasters
Miami Herald
23-05-2025
- Business
- Miami Herald
Trader Joe's makes big bet in growing market
When you suddenly hear people talking about cookie butter, $3 wine, and frozen mandarin orange chicken packs that somehow taste like restaurant takeout, it can only mean one thing: Trader Joe's is coming to town. Neighborhoods actually do count down the days until they "get" a Trader Joe's because there's just something about those handwritten signs, and the thrill of discovering a satisfying snack you never knew you needed. Related: Costco answers a common customer question For many communities, a Trader Joe's isn't just a grocery store, it's a lifestyle upgrade, a conversation starter, and a sign that your neighborhood has officially made it. Now, many more East Coasters will be happy because Trader Joe's is making a major move to expand its operations in New York and surrounding areas. The beloved grocery chain has entered into a contract to acquire a 66-acre parcel of land in Islandia, located in Suffolk County, according to a report from Long Island Business News. Image source:The company reportedly has plans to build a massive new warehouse and distribution center on Long Island. The proposed development spans more than 921,000 square feet, including a 756,000-square-foot warehouse, 125,000 square feet of freezer storage, and a maintenance facility measuring just over 6,200 square feet. The new complex would significantly boost Trader Joe's distribution capacity in the region and help the company streamline operations to serve its rapidly growing customer base across New York and nearby markets. Costco and Trader Joe's both have efficient logistics and distribution systems that allow them to get goods to stores relatively quickly. Currently, Trader Joe's operates seven stores across Long Island - five in Nassau County and two in Suffolk County. Additionally, the grocer has a strong presence in the neighboring boroughs of Brooklyn and Queens, which are also geographically part of Long Island. There are three stores in each area. Despite this dense network of locations, Trader Joe's has no local distribution hub nearby. Right now, the closest Trader Joe's distribution center is located in Bath, Pennsylvania, a town north of Allentown. That 530,000-square-foot facility includes refrigerated storage, air-conditioned areas, ambient dry storage, and over 100 loading docks. Related: Trader Joe's making huge mistake not copying Walmart, Target The Pennsylvania location is more than 100 miles from Long Island, which can make it difficult to deliver perishable goods, since it's at least a three-hour trip. The new Islandia facility would reduce transportation times and delivery costs and improve product freshness and availability in stores throughout the greater New York area. With over 900,000 square feet of space, the Long Island project suggests Trader Joe's has plans to stake an even bigger claim in the region. In 2024, Trader Joe's opened 34 new stores, and 2025 will see 21 new locations, including six across New York, New Jersey, Massachusetts, Pennsylvania, and Washington, D.C. A new regional distribution center on Long Island could pave the way for future store openings in additional parts of Nassau and Suffolk counties. It may also better position the retailer to weather supply chain disruptions, manage rising transportation costs, and meet increased consumer demand across New York and neighboring states. More retail: Aldi releases viral Trader Joe's item that is always out of stock Home Depot, Lowe's rivals strategic growth planTrader Joe's making huge mistake not copying Walmart, Target The Long Island project is still in the early stages, but it could bring significant economic benefits to the Islandia area. Large-scale distribution centers like the one TJ's has planned often create as many as 800 jobs, both in construction and long-term warehouse operations. The proposed facility may also boost demand for local logistics, trucking, and maintenance services. Trader Joe's has not yet publicly commented on the timeline or details of the Islandia project, but the deal is expected to draw close attention from local officials and community stakeholders. As the company works through zoning approvals and site planning, more information is likely to emerge in the coming months. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
New York Post
07-05-2025
- Business
- New York Post
Today's housing market is a mirror of the times we're living in, new study shows
The American dream of homeownership is feeling increasingly like a fantasy for some. Gallup's annual housing market survey, released Wednesday, paints a pessimistic picture of the real estate market. Most Americans view current market conditions as decidedly unfavorable, the survey concluded, and they are bracing for further price increases in the coming year. The responses of more than 1,000 American adults were included in Gallup's sample for its annual Economy and Personal Finance survey. The survey measures housing market perceptions and home-buying intentions across the country. 5 Americans are increasingly pessimistic about the prospect of homeownership. Getty Images/iStockphoto 5 A home advertises an open house, hoping to attract uncertain buyers. moodboard – 5 Americans across the country reported the cost of homeownership as their greatest barrier. Mangostar – Roughly one third of respondents reported renting their homes. Of that cohort, the percentage for that plan to buy a home within five or 10 years was just 53% — the lowest ever recorded by Gallup. Also, 45% of respondents don't expect to buy a home in the foreseeable future. More than half said they expect home prices to increase this year. The results come at the same time as widespread economic uncertainty and lackluster spring sales reported by the National Association of Realtors. Home sales in March declined by the most since November 2022. There are plenty of reasons why a renter may not want to become a homeowner — like convenience, bad credit, an unstable job or just simple timing. But the cost of homeownership, including the down payment, is a bigger home-buying barrier for renters than it has been in the past, the survey revealed. Only 11% of renters cited convenience as their reason for renting, suggesting not renting today is largely an economic choice, rather than a preferential one. 5 For sale signs are piling up across US metros. Home sales nationwide significantly slowed this spring. Hernan Schmidt – 5 High prices, elevated mortgage rates and an uncertain economy are dampening the hopes of prospective homebuyers. fizkes – Among US adults who currently rent their home, 68% say they do so because they can't afford to buy or do not have enough money for a down payment. When Gallup asked this question in 2013, just 45% gave this reason. Americans remain broadly skeptical about the housing market, as they have been since 2022, with a majority — 72% — answering that it's a bad time to buy a house. But the Gallup data found real divides in perceptions when sorted by region and politics. East Coasters, the survey found, are more likely to expect home prices to rise than other regions. Republicans answered the survey with significantly more optimism than their counterparts — 33% of Republicans surveyed said that now is a good time to buy a home, compared to just 18% last year. This cohort's expectations for rising home prices also dropped dramatically, from 69% in 2024 to 48% this year. Despite declines from their 2022 highs, home prices remain head and shoulders above levels from a decade ago. The financial squeeze of high prices, elevated mortgage rates and an uncertain economy has effectively locked out a segment of Americans from looking forward to homeownership. Despite this pessimism, a large proportion of Americans — 37% — still believe that real estate is the best long-term investment a person can make.
Yahoo
15-04-2025
- Climate
- Yahoo
Next messy system aims to hit Atlantic Canada with more wintry weather
An unsettled Monday was just a sign of things to come for Atlantic Canada this week. The next event be smaller in scale and will move through quicker than the previous low, but significant snowfall is anticipated to return to northern and central New Brunswick by Tuesday evening. DON'T MISS: While the news of more wintry or rainy weather will come as a disappointment for many East Coasters, conditions on the Saint John River in New Brunswick aren't a concern right now, luckily. Be sure to monitor local weather alerts and check highway conditions before heading out to start the week. Another storm will quickly return to the region Tuesday, with colder weather accompanying it. The low will be smaller and faster, however, and will quickly move through Atlantic Canada. Forecasters will be watching for significant snowfall to return to northern and central New Brunswick by Tuesday evening, and lasting through Wednesday. Heavy snowfall rates pick up Tuesday overnight before easing Wednesday afternoon. SEE ALSO: Snowfall amounts of 10-25 cm are possible for areas surrounding Grand Falls, Campbellton and Miramichi, N.B. Meanwhile, rain is expected in Fredericton and areas south, extending into P.E.I. and Nova Scotia. 10-25 mm of rain is expected in the southern and western parts of New Brunswick, in the heart of the Saint John River watershed. Fortunately, the risk of flooding this year is low. With the upcoming rain, there is the chance for water levels to rise a bit, but most areas are in the clear with only the Gagetown monitoring station showing an advisory currently. However, the water levels could creep up high enough to prompt a watch to be issued later this week. Other areas will inch close to the advisory level. Northern sections of the Saint John River aren't in the clear, yet, however, as there is still the risk of ice jams since ice is still present and there is still snow on the ground to melt, with more to come. Click here to view the video Stay with The Weather Network for more forecast updates across the Maritimes.
CBC
23-03-2025
- Business
- CBC
Fewer Canadians travelling to Maine inn amid trade war
Social Sharing The operator of a coastal hotel in a picturesque corner of Maine that has long attracted East Coasters during the summer says he is feeling the effects of the Canada-U.S. trade war. Pierre Janelle, a third-generation innkeeper at The Edgewater in Old Orchard Beach, said he's been fielding an increase in cancellations from Canadians who are bitter about U.S. President Donald Trump's policies. "Most people that spoke said that they just felt the uncertainty made them nervous and so they were going to cancel, but they may rebook later if things settle down," Janelle told CBC's Information Morning Nova Scotia. Old Orchard Beach has been a popular summer destination for Quebecers and Maritimers for decades, given it's just a day's drive away. The resort town in York County, about 30 kilometres south of Portland, was even recently cited by outgoing prime minister Justin Trudeau as a place Canadians would choose to avoid this summer amid the trade war. Janelle estimates Canadians make up roughly 18 per cent of his bookings on average per year. He said Trump's repeated threats of tariffs against a long-standing trade ally and the anger he has incited by suggesting the country become the 51st state has had a direct impact on consumers' behaviour in the tourism sector. However, Janelle noted that the would-be vacationers he's spoken to do not target his family-run business for what's happening in the White House. "I think citizens on both sides of the border understand this is politics and they understand that it has nothing to do with the citizens. I think there's a warm relationship and I hear it on the phone," he said. "People say, 'We love coming there. We love coming to the United States. However, we're really upset with what the government is doing.' And so they're able to differentiate." Fewer Canadians driving south Nearly 500,000 fewer travellers crossed the land border from Canada into the U.S. in February compared to the same month last year, according to data from U.S. Customs and Border Protection. The number of travellers entering the U.S. in a passenger vehicle — the most common way to make the trip — dropped from 2,696,512 in February 2024 to 2,223,408 last month. On the flip side, Canadian tourism operators are hopeful the trade spat will provide a boost to the local industry. Canadians once destined for the U.S. have been rebooking their vacations within the country. Nova Scotia's tourism board is even readying a new domestic ad campaign to "entice and inspire" travel to the province, "leveraging existing sentiment around Canadian vacations," a spokesperson said. Meanwhile, operators are also hoping the weak Canadian dollar will coax Americans into travelling north. 'We understand' Janelle said he hasn't adjusted the way he markets his business quite yet, as there is still too much uncertainty about how the trade war will play out. He had this message for Canadians: "We're going to be here when things settle down." Janelle said he appreciates why some of them have cancelled their travel plans. "If they're not comfortable coming, we understand," he said. "We understand their frustration and the pain that they feel. To have two good allies all of a sudden being adversarial, it just doesn't seem right."
