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Bloomberg

Scion Group & Ares Management Team Up to Buy $910M in Student Housing

Scion Group CEO Rob Bronstein said that his team is targeting real estate around universities that represent a 'strong return on investment' in terms of tuition, as his company announces a deal with Ares Management to but $910M in student housing properties. Bronstein, joined by Bloomberg's Norah Mulinda, said that his investment is aimed at providing a wide net of locations and price points in the student housing market.

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Bloomberg

Target Tempers Expectations After Best Sales Gain in Years

Target Corp.'s turnaround gained traction last quarter, but the retailer worried investors after striking a more cautious tone about the coming months. The company that has been struggling to revive growth after a pandemic-fueled boom showed Wednesday that it's making progress. Comparable sales jumped 5.6% last quarter, the biggest increase since the end of 2021 and triple the gain analysts were expecting. The chain also raised its annual revenue guidance by 2 percentage points to about 4%. Target is looking to win back increasingly selective shoppers amid resurgent concerns about inflation as the conflict in the Middle East boosts gas prices. Competitors such as Walmart Inc. and Costco Wholesale Corp. have been gaining market share with low prices, increased online options and expanded selections. For more on Target's results, we speak with Jennifer Bartashus, Senior Retail Staples Analyst for Bloomberg Intelligence.

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Bloomberg

Building Fan Community Key to WNBA Success, Says Valkyries President Jess Smith

Jess Smith, president of the Golden State Valkyries, said that building community and connection in a deeper way and then building a business around that foundation has been key to her teams success in their first season. Smith said that the Valkyries, a team that was recently rated at a $1 billion valuation, are serious about upholding 'golden state culture' and investing in the fan experience to attract a dedicated fanbase and grow the franchise as the WNBA enters its 30th season.

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