Amid the news that some retailers are lowering prices on hundreds of products for their customers comes the news that a major supermarket chain is planning to close an unspecified number of grocery stores.
Ahold Delhaize, the parent company of the Massachusetts-based Stop & Shop, made the announcement during a recent strategy meeting.
The company’s CEO, JJ Fleeman, stated the closing of some of the retailers’ 400 locations will not only “create a healthy store base,” but also “ensure a stable future for the brand.”
Fleeman added the company is focused on immediately bringing down costs for the customers.
While a list of stores that will close has yet to be released the CEO said stores that have been underperforming would be the first to go.
Since 2018, nearly 200 locations have been modeled and according to their data those stores have outperformed those which have not been updated.
The company plans to put all their “focus on the markets that are most important, including those where the brand has strong density, holds a strong market position, or has stores that are performing well.”
Stop & Shop is concentrated in the Northeast, with locations in Rhode Island, Massachusetts, Connecticut, New York, and New Jersey.
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