Acme announced last week that it plans to close its supermarket at 250 East Lancaster Ave. in Wynnewood. Three other stores within five miles of the Wynnewood store will remain open, according to an Acme spokesperson. Acme closed its nearby Gladwyne store in February 2019.
United Food and Commercial Workers Local 1776 Union President Wendell Young said the store had struggled from poor sales, and that the small staff was “a function of what the sales are.”
“Acme’s got a good brand and good reputation, but they need to promote and be price competitive and invest in the stores so people have modern, clean stores with products they want,” Young said. “If they do that, Acme can have some bright days.”
Despite subpar sales at some stores, Acme – like other supermarkets – has thrived during the coronavirus. Its parent company, Albertsons, saw sales rise 47% during March, and then 21% more in April. The increase in sales proved helpful to the company, which accrued billions in debt from grocery acquisitions.
Albertsons had its initial public offering last week in which it sold 50 million shares of common stock at $16 per share, about $2 to $4 lower than what its investors had anticipated.