EQUITY RETAIL BLOG

Supervalu gives $23 million to four departing execs

According to documents filed with the SEC, Supervalu is giving $22.78 million in “golden parachutes” to four executives, including CEO Wayne Sales. Sales will receive $12.8 million, about two thirds of which will be in cash. Sales replaced Craig Herkert as CEO last July, and is expected to leave the company when the $3.3 billion […]

Redner's 6th on list of small chains and independents

Last year The Fresh Market and Grocery Outlet were the top two grocers on Supermarket News’ list of Top 50 Small Chains and Independents, but their growth has lifted them off the list and on to the Top 75 list of the largest food retailers and wholesalers in the U.S. and Canada. Last year Grocery […]

ShopRite damaged by Sandy reopens in snow storm

A ShopRite in Hoboken that had been closed since Hurricane Sandy reopened on February 9, the same day Winter Storm Nemo dumped about a foot of snow on the area. Reports say shoppers braved the weather and lined up to see the redesigned store, which features green technologies, new glass doors on dairy and freezer […]

Wegmans on the market in VA

Last week GlobeSt.com reported that a freestanding Wegmans in Fredericksburg, VA is up for sale. The asking price is $25 million – a 4.25% cap rate. The property includes an outparcel that a restaurant could build on, among other attributes. Jonathan Hipp, Calkain Cos. principal, is marketing the property. “I have never seen one for […]

Delhaize America to cut 500 jobs

Delhaize America, the parent company of Food Lion, Bottom Dollar and others, announced yesterday that it will eliminate 500 jobs as part of a corporate reorganization. The jobs lost will be “above the store manager level” and will include 350 current employees as well as 150 open positions. Yesterday’s announcement follows last month’s news that […]

Cerberus to invest in Supervalu, install new leadership

Only a couple weeks after a group led by Cerberus Capital Management agreed to buy five Supervalu grocery chains for $3.3 billion, an investment group led by Cerberus is scheduled to take control of 20-30% of Supervalu and install a new executive leadership group. According to Neil Stern, a senior partner at McMillanDoolittle, it’s a […]

National chain expansion hits five-year high

According to a report issued by RBC Capital Markets, demand for retail space in the U.S. hit a five-year peak at the end of 2012, with nearly 82,000 stores scheduled to open within two years. According to Analyst Rich Moore, many of the chains with expansion plans are national retailers looking to fill small shop […]

Wegmans and Whole Foods among best companies to work for

Four food retailers, including Wegmans and Whole Foods, made Fortune magazine’s annual list of the “100 Best Companies to Work For.” Wegmans ranked 5th (as compared to 4th last year), Whole Foods ranked 71st (32nd last year), Nugget Market (California) ranked 34th (no change), and Publix ranked 77th (78th last year). Two-thirds of a company’s score […]

Performance during hurricane boosts Ahold sales

Giant Food parent Ahold reported last week that their 4.3% fourth quarter sales growth was helped by their ability to keep stores open during Hurricane Sandy. Sales in the U.S. for the full year were up 3.1% to $25.8 billion, with comparable sales up 1.9%. Ahold also said that the 15 Genuardi’s stores it acquired […]

Fresh Direct expanding online grocery service to suburbs

Online grocer Fresh Direct, which introduced its service to a limited area in Philadelphia last October, said earlier this week it has expanded into parts of Montgomery and Delaware Counties, and will soon provide grocery delivery for portions of Chester, Bucks, Camden, Burlington and Mercer Counties. According to the company, the demand for its service […]