RUNNING WITH EQUITY RETAIL

WITH DAVID GOODMAN

David Goodman | Nov 21, 2012 |
Supermarket News

Supervalu freezes pay, lays off workers as buyer conducts due diligence

Supervalu, the troubled supermarket chain whose banners in the Philadelphia region include Acme and Save-A-Lot, announced last week it would implement a pay freeze for all employees at its corporate headquarters in Minneapolis, MN. The company said it will also reduce or suspend matching contributions to employees’ 401(k) plans starting next year. Earlier in the […]
David Goodman | Nov 14, 2012 |
Supermarket News

Three Super Fresh stores to close in NJ

A&P has announced it will close three New Jersey Super Fresh stores in January. The stores are located in Evesham (Marlton), Haddon Township and Plainsboro. Since New Jersey-based A&P filed for bankruptcy protection nearly two years ago, several of its banners have closed in the state, including many Pathmark stores and a Super Fresh. Stores […]
David Goodman | Nov 08, 2012 |
Supermarket News

Audubon store to be last Genuardi's standing

It appears that by the end of the year there will be one Genuardi’s grocery store left. With the Evesham, Egg Harbor and Barnegat stores slated to close soon, Audubon, PA will be home to the only remaining Genuardi’s.   Earlier this year, Genuardi’s closed stores in Royersford, Exton and Norristown. Over the summer, 15 […]
David Goodman | Nov 05, 2012 |
Supermarket News

Good Cents discount grocer to debut in Pittsburgh

Discount grocery store “Good Cents Grocery + More” will open its first location this month in Pittsburgh. Owned and operated by Giant Eagle, the new banner will compete directly with Bottom Dollar. Giant Eagle already operates seven Valu King discount grocery stores, but said the new concept is “an evolution” of the Valu King format. […]
David Goodman | Nov 05, 2012 |
Supermarket News

Wawa opens sixth Florida store

Wawa opened its sixth Florida store late last month. The company began opening stores in Florida in July, and has plans for 25 more in 2013, with a total of 100 new stores in five years. The six operating stores are in Orlando and Kissimmee. Expansion to the Tampa area will begin next year. Wawa […]
David Goodman | Nov 05, 2012 |
Supermarket News

Wakefern reports gain in yearly retail sales

Wakefern Food Corp. announced that retail sales were up 6.4% to $13.6 billion for the company’s recently completed fiscal year. In addition, warehouse sales for the cooperative wholesaler and ShopRite parent company were $10.1 billion. For the year, 10 new ShopRite stores and one new Price Rite discount store opened.
David Goodman | Nov 05, 2012 |
Supermarket News

Weis Markets 3Q results include higher earnings, lower sales

Weis Markets announced its third quarter earnings recently, which were highlighted by a 1.2% increase in net income to $17.2 million. In addition:   Earnings per share increased 1.6% to $0.64 per share as compared to the same period one year ago. Operating income increased 1.3% to $26.5 million. Sales decreased 1.5% to $668.4 million. […]
David Goodman | Nov 01, 2012 |
Supermarket News

Many supermarkets remain closed due to Hurricane Sandy

Many supermarkets remain closed due to Hurricane Sandy, including the following:   ShopRite – 17 stores closed as of this morning, most of which are in New Jersey. Stop & Shop – 10 stores (five in NY and five in NJ) were closed as of yesterday. Whole Foods – four of the company’s seven New […]
David Goodman | Oct 24, 2012 |
Supermarket News

Costco to ramp up openings, capital spending

During a conference call a couple weeks ago to discuss earnings, a Costco executive said the company plans to open 27-30 new stores next year, the most since 2007. Along with the openings, capital spending is expected to grow to nearly $2 billion, compared to $1.5 billion spent in the fiscal year that ended on […]
David Goodman | Oct 23, 2012 |
Supermarket News

Potential buyer rumored for Supervalu as company posts earnings loss

It was widely reported yesterday that Cerberus Capital Management may make a bid for struggling grocery giant Supervalu, whose banners include Acme and Save-A-Lot in the Philadelphia market, and Albertson’s, Jewel-Osco and others around the country. Cerberus is a private equity firm established in 1992 that has made investments in distressed companies like Chrysler, and partnered […]

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