Giant, Super Fresh and Bottom Dollar open in Philadelphia
In the last month, Giant, Super Fresh and Bottom Dollar have opened stores in Philadelphia. The Giant and Super Fresh stores are especially noteworthy. The new Giant location, which opened in Northeast Philadelphia in late July and measures 74,000 square feet, is the company’s first foray into the city. Developer Peter Abrams told the Philadelphia Inquirer […]
Is Whole Foods a takeover target?
There are often rumors about Whole Foods taking over retail space. Now there is chatter about someone else taking over Whole Foods. In a recent LiveTradingNews.com story, Paul A. Ebeling, Jr. mentioned that the U.K.’s Daily Mail singled out Kohlberg Kravitz Roberts & Co. and Bain Capital as private equity firms that may have an interest. The […]
Walmart Market posts 3% quarterly increase in comp sales
Wal-Mart announced that comparable store sales in the U.S. declined (again) in the second quarter of 2011, and overall U.S. sales were flat. However, comps for Walmart Market stores increased 3% from the previous quarter, prompting the mega-retailer to speed up the supermarket’s rollout. So far, the company has announced that about 180 Walmart Market […]
Investor interest in grocery-anchored centers is growing
According to a story in the Supermarket News last week, the president and COO of the country’s largest commercial real estate valuation firm said investor interest is growing in grocery-anchored shopping centers. Jeffrey Rogers of Integra Realty Resources expects anchor tenants to regain strength and small shop leasing to increase in neighborhoods that are showing […]
Wakefern member says profit margins are one percent
Village Super Market Vice Chairman Bill Sumas told The Baltimore Sun recently that his stores, which are part of the Wakefern cooperative, operate on a one percent margin. At the same time, he credited his family’s involvement in the company as well as the economies of scale Wakefern offers as the reason they keep “moving […]
A&P scrapping low price project, seeking more time to reorganize
A&P says their effort to introduce everyday low prices at its A&P, Super Fresh and Waldbaums stores didn’t resonate with consumers and hurt profits. Therefore, the “Lower Price Project” launched in March 2010 that replaced discounts and coupons by establishing lower everyday prices on 10,000 items, has been scrapped. A&P has been operating under Chapter […]
Wawa signs leases, plans to enter Florida market
According to the Orlando Business Journal, Wawa has signed “more than 10” leases in the Orlando, Florida market, and the retailer has indicated it will open as many as 100 stores in the state. According to a Wawa regional real estate manager, site work on the first set of stores will begin in the next […]
Foodtown announces creation of new co-op
On Friday, President and COO Bill Donahoe announced the formation of Allegiance Retail Services, LLC, a company that will function like a co-op by providing retail services to Foodtown operators. Independent retailers operating under other banners will also be able to benefit from the co-op. Allegiance will provide members with advantages such as collective buying […]
Earnings reports in from Whole Foods, Safeway, Supervalu, Kimco and PREIT
In the last week a number of supermarkets and REITS announced earnings. Here is a summary of a few with local ties. Whole Foods announced that net income for the fiscal third quarter rose 34.6% to $88.5 million, and sales climbed 10.9% to $2.4 billion. According to the company, a better price image and strong […]
Privatization of liquor sales would create opportunity for supermarkets
According to multiple reports, PA House Majority Leader Mike Turzai has introduced a bill that would result in the auctioning off of the state’s 600 liquor stores and the sale of additional liquor licenses. A debate is raging among State House leaders over Turzai’s bill (HB 11) and whether or not it makes financial sense. […]