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Is your Stop & Shop closing?
The Northeastern supermarket chain announced at its investor meeting last week that it’s closing underperforming stores.
Details like how many stores and which ones have not yet been named, but its corporate parent company Dutch-based Ahold Delhaize did offer some insight in the investor meeting.
Chief executive for the United States JJ Fleeman said the company would be taking into account brand density, the position each store holds in the market and how well it performs.
Fleeman also said since 2018, Stop & Shop remodeled 190 stores, with the remodeled stores outperforming stores that were not updated, making it less likely a Stop & Shop that was recently remodeled would close.
How many Stop & Shop locations are there?
Stop & Shop has 397 stores, according to their website, with the largest footprint in Massachusetts.
They have 125 stores in the Bay State, 100 in New York, 88 in Connecticut, 57 in New Jersey and 27 in Rhode Island.
Why is Stop & Shop planning to close stores?
In the presentation to investors, Fleeman said to assure “a stable and thriving” future they needed to focus on “optimizing the portfolio to focus on core markets where it can win.”
While remodels helped, overall “it’s not enough, and it’s not where we want to be or need to be,” saying that some stores must close,” Fleeman said.
What other brands does Ahold Delhaize own?
Ahold Delhaize operates more than 7,700 food stores in the Eastern United States, plus several European countries, including Greece, Serbia, Romania, the Czech Republic, Belgium and the Netherlands, employing more than 400,000 people. Besides Stop & Shop, its US brands include Food Lion, the Giant Company, Giant Food and Hannaford.
Paul Edward Parker contributed to this report.
