OAN’s James Meyers
2:40 PM – Thursday, May 30, 2024
Stop & Shop is planning on shutting down numerous locations of its grocery stores across the Northeast that the company said are “underperforming.”
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“Stop & Shop will make some difficult decisions to close select underperforming store locations to help ensure the long-term health and future growth for our business,” a spokesperson for the supermarket chain said in a statement.
Parent company Ahold Delhaize made the announcement during its “Strategy Day” last week when it unveiled a four-year plan for its brands.
“Stop & Shop has already evaluated its overall portfolio and will make difficult decisions to close underperforming stores to create a healthy store base for the long term and grow the brand,” the company’s U.S. CEO JJ Fleeman said.
The Massachusetts based grocery store chain currently operates close to 400 stores in five states, which include Connecticut, New Jersey, New York, Rhode Island and Massachusetts.
Meanwhile, it has “remodeled” and made improvements to nearly half its stores.
“We’ve completed more than 190 remodels to date, which continue to perform well, and we’re committed to continuing to invest in our stores – as well in our prices – to deliver a great in-store experience and great values for our customers,” the company statement said.
Additionally, the company did not provide a timeline as to when the closures are expected.
Fleeman added that the company plans to “focus on the markets that are most important, including those where the brand has strong density, holds a strong market position, or has stores that are performing well.”
Ahold Delhaize also runs the U.S. supermarket chains Food Lion, Hannaford, Giant Food and The Giant Company.
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