【chase or ekeler】HqO Launches Suite of Features to Facilitate Return to Work
HqOS operating system prioritizes tenant safety and comfort with new technology
BOSTON,chase or ekeler June 03, 2020 (GLOBE NEWSWIRE) --
HqO,
the tenant experience platform for commercial office buildings, announced today an array of features to facilitate a safe and seamless return to the office. Landlords seeking technology to help their tenants safely return to work in the “new normal” can now take advantage of HqO’s operating system, which facilitates solutions in the key focus areas of communications, safety, logistics and health.
“As COVID-19 restrictions begin to loosen in states across the country, landlords need technology now more than ever,” said Chase Garbarino, CEO and co-founder of HqO. “There are new requirements and precautions to manage. The more landlords and property managers can do to facilitate a safe return to work for their tenants, the more comfortable those tenants will be to return to their workplaces.”
HqO’s tenant app features a suite of cutting-edge features, all designed to improve communication, increase safety, facilitate seamless logistical planning, and promote good health:
Communications
Deliver relevant safety communications via push notifications
Publish cleaning schedules and updates
Manage and sign documents
Safety
Regulate building and office-specific capacity, including contact tracing
Facilitate contactless building access
Digitally manage visitor registration
Logistics
Engage with local retail through contactless food delivery
Manage work orders, including requests for cleaning and safety issues
Health
Provide sanitation station information
Promote telemedicine options
Advance digital wellness programs
The capacity manager tool is a native technology designed to help office managers control how many employees can come into a space with capacity restrictions, ensuring that social distancing and safety regulations are met. Tenants simply use their app to request the days and times they’d like to come in and receive a notification when their office manager has accepted or declined their request. The tool can also dynamically contact trace in the event of a COVID-19 incident.
The HqOS marketplace will allow for seamless integrations with partners across the spectrum of the above categories. Building amenity providers such as
Soloinsight
(visitor management),
TransitScreen
(commute management),
EXOS
(digital wellness programs),
Angus Systems
(work order and building management),
Ritual
(food ordering and retail),
Traction Guest
(visitor management),
Proxy
(touchless access),
LiveSafe
(safety and security communications),
Fitspot
(digital wellness programs),
Proxyclick
(visitor management),
Lifestance Health
(online therapy and psychiatry appointments) and
Openpath
(access control) are just some of HqO’s many partners in safe return to work planning.
Story continues
About HqO
For owners and operators of commercial real estate, HqO is an integrated tenant experience platform and strategy solution that strengthens relationships with current and prospective tenants, unlocking business value for owners while bringing property management, marketing, and leasing teams closer to their customers.
For tenants, HqO is an award-winning tenant experience mobile app — connecting employees to the communities in and around their building and empowering them with tools to control their workday.
HqO is headquartered in Boston, with offices in New York City, Dallas, Los Angeles, London, and Paris. To learn more about HqO and request a software demo for your properties, visit
www.hqo.co
, and follow HqO on Twitter
@HqOapp
.
Contact: Kristine Coelho
Phone: 833-225-5476
Email: [email protected]
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DENVER, Dec. 01, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Ke2024-09-29As shown below, the results in the quarter materially changed the trend in two-year stacked comps for each of the banners, along with a significant acceleration for consolidated comps.
The increase in consolidated comps was the primary driver of an 8% increase in revenues to $6.3 billion. The company ended the quarter with 15,370 locations, up less than 1% year-over-year. This reflects a 7% increase in Dollar Tree units, offset by a 4% decline in Family Dollar units.
The top-line results at each banner flowed through to their respective income statements, with Dollar Tree gross margins and operating margins declining year-over-year while Family Dollar gross margins and operating margins expanded year-over-year. On a consolidated basis, gross margins contracted by 120 basis points in the quarter to 28.5%, reflective of a shift to lower-margin consumables, tariff costs and the impact of markdowns from the Easter headwinds at the Dollar Tree banner. The company saw slight operating leverage on SG&A from higher comps, with the net result being an 80 basis point contraction in operating margins to 5.8%, with operating income declining 5% to $366 million. This is not adjusted for $73 million of pandemic-related costs, such as PPE supplies.
In the first quarter, the company opened 85 stores (net of closures) and completed 220 Family Dollar renovations to the H2 format. Importantly, comps at renovated Family Dollar stores continue to outpace the chain average by more than 10%. On the call, management indicated that they plan on reducing both the number of new store openings (from 550 to 500) and the number of H2 renovations (from 1,250 to 750) in 2020.
Personally, given the fact that Family Dollar is seeing material benefits to its business from the pandemic with new or lapsed customers coming into its stores, I think the company should try to get more aggressive with its renovation plans, not less. On the other hand, you could argue that renovations cause short-term disruptions and limit their ability to fully capitalize on the business momentum they are currently experiencing.
As a result of fewer new stores and remodels, management now expects 2020 capital expenditures to total $1.0 billion compared to previous guidance of $1.2 billion. In addition, the company has temporarily suspended share repurchases. At quarter's end, the company had $1.8 billion in cash on its balance sheet compared to $4.3 billion in total debt.
Conclusion
In recent years, Dollar Tree has been a tale of two cities. While its namesake banner has generally delivered impressive financial results, Family Dollar has been a persistent underperformer. This quarter, those results flipped, and given what we've seen in the weeks since quarter's end, there's a decent possibility that we will see something similar in the coming months. As the CEO noted, the second quarter is off to a very good start at Family Dollar.
Here's the important question: how useful is that information is in terms of making future predictions about the business? Will recent success at Family Dollar translate into long-term success for the banner? The optimistic take is that new or lapsed customers, especially those visiting the renovated stores, could become recurring business for the banner. The pessimistic take is that they have experienced short-term success out of necessity as people went to any store that was open to try and find essentials like toilet paper and hand sanitizer that were largely out of stock throughout the retail landscape. From that view, many of these customers could abandon the retailer when life returns to normal. As Philbin noted on the conference call, early on [during the pandemic], folks needed us. Will people still shop as much at Family Dollar when it's no longer a necessity?
Personally, I do not place too much weight on the recent results. I will need to see incremental data points that indicate that Family Dollar has truly won sustained business from these new customers. While I still believe that the Dollar Tree banner is a well-positioned retailer with attractive unit returns, I'm not yet willing to say the same thing for Family Dollar. For that reason, along with the recent run-up in the stock price, I plan on staying on the sidelines for now.
Disclosure: None
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