RUNNING WITH EQUITY RETAIL

WITH DAVID GOODMAN

David Goodman | Jul 09, 2020 |
Supermarket News

Acme to close Wynnewood, PA store

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 […]
David Goodman | Jul 09, 2020 |
Supermarket News

Wegmans to close in-store pubs permanently

Wegmans announced that it is permanently closing its in-store pubs that had been located in 12 stores across New York, Pennsylvania and Virginia. The pubs had been closed temporarily in March due to the coronavirus. Burger Bar and Next Door (sushi) locations remain open with virus-related restrictions, and Amore, the company’s Italian restaurant concept, is […]
David Goodman | Jul 09, 2020 |
Supermarket News

ShopRite operator David Zallie buys out brothers, now operates 11 stores

Earlier this week it was reported that David Zallie purchased the eight ShopRite stores that had been jointly owned by he and his brothers, George and Bruce, since the death of their father in 2011. George and Bruce plan to retire, and now all 11 Zallie-owned ShopRite stores will operate under the Medford, NJ-based Zallie-Somerset, […]
David Goodman | Jun 15, 2020 |
Supermarket News

Instacart raises $225 million in new funding

Instacart announced last week that it raised $225 million in new financing as consumer demand for online grocery delivery and pickup services has experienced an “unprecedented surge” since the COVID-19 outbreak. The investment, led by DST Global and General Catalyst, along with existing investor D1 Capital Partners, raised the company’s valuation to $13.7 billion. According […]
David Goodman | Jun 15, 2020 |
Supermarket News

Kimco sells part of its stake in Albertsons

Kimco Realty reported last week that it received $156 million as part of Apollo Global Management’s $1.75 billion purchase of Albertsons convertible preferred stock, a transaction that took place in May. As a result, Kimco’s interest in Albertsons decreased from 9.29% to 7.5%. Kimco also reported that Albertsons used $1.68 billion in net proceeds from […]
David Goodman | Jun 03, 2020 |
Supermarket News

Aldi to launch Curbside Pickup Service

Aldi announced that it plans to launch Curbside Grocery Pickup service at nearly 600 stores in 35 states by the end of July. The service will enable customers to order via Aldi’s Instacart page or mobile app, and Aldi employees will pack the groceries and bring them out to customers’ vehicles. The decision came after […]
David Goodman | Jun 02, 2020 |
Supermarket News

Giant to open new store in Richboro, Bucks County, PA

The Philadelphia Business Journal reported that Giant plans to open a new 50,000 square foot store at Richboro Plaza in Bucks County. The shopping center was formerly anchored by Murray’s Richboro Market, which closed two years ago and was about 25,000 square feet. Before Murray’s, Shop n Bag occupied the space for several years. A […]
David Goodman | May 28, 2020 |
Supermarket News

Target digital sales jump 141% in fiscal first quarter

Target reported last week that it experienced double-digit sales gains in its fiscal 2020 first quarter, led by growth in online pickup and delivery, especially in food and beverage. Online sales climbed 141% compared to the same quarter last year. However, investments related to the coronavirus, including customer and employee safety, worker compensation, supply chain […]
David Goodman | May 28, 2020 |
Supermarket News

Private equity firm to purchase minority stake in Albertsons

Albertsons, the parent company for supermarket banners like Acme, Safeway, Jewel-Osco, Shaw’s and several others, announced last week that it plans to sell a 17.5% stake in the company to private equity firm Apollo Global Management. The transaction is expected to close by mid-June. Albertsons is owned by an investment group that includes Kimco and […]
David Goodman | May 27, 2020 |
Supermarket News

Developers seek to bring another Wegmans to Bucks County

Lower Makefield (Bucks County), PA supervisors are planning to meet next week with developers to discuss a proposed mixed-use overlay zoning designation for a 36-acre property across from Shady Brook Farm. The overlay would allow for several uses – from commercial to recreation – that could pave the way for a Wegmans grocery store. Despite […]

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