MJP –
Stop & Shop is trying to survive in the retail game by closing 32 sites for good, which is making closures even more painful.
Just lately, the business announced that it will be shuttering 32 locations by November due to poor performance.
Amid the company’s store closures in New Jersey, New York, and New England, retailers have started to lose faith in their abilities.
Boston said that following the latest round of shop closures, Stop & Shop will run 359 locations.
During an earnings call in May, the chief executive of Ahold Delhaize USA stated, “Stop & Shop is not where we want to be or need to be.”
His final comment was, “The value proposition and pricing… are simply not strong enough.”
Source – AP News
Reports have combined to make consumers nervous that the grocery store would soon close its doors for good.
John Niccollai, head of the United Food & Commercial Workers Union chapter that represents Stop & Shop employees in New Jersey, stated, “This isn’t my first ride at the rodeo.”
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It’s the beginning of the end for a lot of companies that I’ve seen.
The company’s president, Gordon Reid, believes that reinvention is the key to the company’s survival, and he has already begun implementing this strategy.
As reported by The US Sun, Stop & Shop intends to update its locations by renovating the majority of them.
Improving around 190 places has already been finished.
Not to mention that new spots have begun to pop up.
A Stop & Shop in Acton is set to open its doors later this year as part of its massive expansion plans.
With the expansion of digital coupons, 99-cent offers, and other promotions, the company is “investing in price,” as Reid has put it several times, to help shoppers save money despite inflation.
