Stop & Shop is planning to shutter an unspecified variety of its grocery stores across the Northeast that the corporate said are “underperforming.”
“Stop & Shop will make some difficult decisions to shut select underperforming store locations to assist make sure the long-term health and future growth for our business,” a spokesperson for the supermarket chain said in a press release.
The Massachusetts-based company currently operates nearly 400 stores in five states — the Bay State together with Recent York, Recent Jersey, Connecticut and Rhode Island.
It has “remodeled” and made improvements to almost half its stores.
Stop & Shop is planning to shut an unspecified variety of “underperforming” stores. Christopher Sadowski
“We’ve accomplished greater than 190 remodels so far, which proceed to perform well, and we’re committed to continuing to take a position in our stores – as well in our prices – to deliver an amazing in-store experience and great values for our customers,” the corporate statement said.
The spokesperson said it is just too early in the method to share information on any specific store closures and didn’t provide an expected variety of locations that can close their doors permanently.
The corporate didn’t provide a timeline as to when the closures are expected.
The news was first announced by the CEO of Stop & Shop’s parent company, Ahold Delhaize, at an investor strategy day held in The Netherlands last week, in keeping with the Boston news station WCVB.
“As Stop & Shop embarks on its next phase, we will likely be decisive and take deliberate and appropriate actions to make sure a stable future for the brand,” US CEO JJ Fleeman said in his remarks to investors.
Stop & Shop currently operates nearly 400 stores in five states — Massachusetts, Recent York, Recent Jersey, Connecticut and Rhode Island. Boston Globe via Getty Images
“Stop and Shop has already evaluated its overall portfolio and can make difficult decisions to shut underperforming stores to create a healthy store base for the long run and grow the brand,” he said, in keeping with the ABC News affiliate station.
The CEO added that the corporate plans to “concentrate on the markets which are most significant, including those where the brand has strong density, holds a robust market position, or has stores which are performing well.”
Ahold Delhaize also operates the US supermarket chains Food Lion, Hannaford, Giant Food and The Giant Company.
