Finances & Deals: Page 17
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Target's 141% digital growth during pandemic pushes sales and costs up
A booming top line masks the volatility in the retailer's business as the pandemic forced extreme changes on an incredibly short timeline.
By Ben Unglesbee • May 20, 2020 -
UNFI delays sale of Shoppers and Cub Foods stores
The wholesaler paused the sale process and closures at the outset of the pandemic and expects to eventually earn a higher premium due to improved results at the stores.
By Jeff Wells • May 15, 2020 -
Grocery Outlet posts strong Q1 sales
Company executives said growth has continued during the second quarter, as customers are spending more per trip even though store traffic remains below normal.
By Sam Silverstein • May 12, 2020 -
Ahold Delhaize steps up e-commerce expansion as digital sales surge
The company said it will accelerate openings for home delivery warehouses and click-and-collect points as U.S. sales in the channel grew 42% in Q1.
By Jeff Wells • May 7, 2020 -
Sprouts records strong Q1 as it outlines long-term growth plan
The natural grocer intends to build smaller, less costly stores and focus on boosting sales among shoppers who are loyal to the chain.
By Sam Silverstein • May 6, 2020 -
Albertsons says 243% coronavirus e-commerce boom can become long-term growth engine
Online sales surged in Q1, and CEO Vivek Sankaran said the company is freeing up bottlenecks to capitalize on new customer sales.
By Jeff Wells • April 30, 2020 -
Ahold Delhaize outlines $185M price tag for COVID-19 response
The grocer said it saw a 34% increase in comparable sales during the month of March, but is maintaining its full-year outlook.
By Jeff Wells • April 8, 2020 -
Grocers extend pay raises as worker anxieties grow
H-E-B says it will offer its $2-an-hour raise for an additional month, while Natural Grocers has permanently increased pay by $1 and added medical benefits.
By Jessica Dumont • April 7, 2020 -
Ahold Delhaize commits $10M to relief efforts
The retailer joins a roster of other companies that have pledged to support medical research, food banks and more amid the pandemic.
By Jessica Dumont • April 1, 2020 -
Kroger awaits 'new normal' following March sales surge
The grocer saw identical sales increase 30% last month and has hired more than 32,000 employees over the past two weeks, but sales volatility looms.
By Jeff Wells • April 1, 2020 -
Fairway Market sells two N.J. leases to Amazon as it wraps up bankruptcy auction
The New York chain also sold its five marquee New York City locations along with a distribution facility to Village Super Market for $76 million.
By Sam Silverstein • March 26, 2020 -
Grocery Outlet seeing 'mid teens' comps so far in Q1
The discounter believes its flexible business model is well suited to the current environment, but withheld guidance due to unpredictability surrounding the coronavirus pandemic.
By Jeff Wells • March 25, 2020 -
Target pivots from planned investments to deal with 'unprecedented' sales surge
Consumers stocking up amid the COVID-19 pandemic have pushed comparable sales for food and essentials up 50% at the retailer.
By Ben Unglesbee • March 25, 2020 -
Dollar General to accelerate grocery initiatives
The dollar retailer plans to double the scale of its DG Fresh self-distribution program and roll out produce to more stores than it previously forecast.
By Jeff Wells • March 13, 2020 -
Bogopa Enterprises bids $75M for Fairway Market's assets
The owner of the New York-based Food Bazaar chain topped Village Super Markets' offer just days ahead of a bankruptcy auction on March 16.
By Sam Silverstein • March 13, 2020 -
UNFI says business is up by double digits amid coronavirus shopping surge
CEO Steve Spinner said demand has been higher than expected over the past two weeks and is coming in categories throughout the store.
By Jeff Wells • March 11, 2020 -
Harps to acquire 20 Town and Country stores
The deal would allow Harps to expand its footprint in Arkansas and Missouri.
By Jessica Dumont • March 11, 2020 -
CVS to acquire Schnucks' pharmacy business
The drug store giant will acquire and rebrand 99 Schnucks pharmacies and buy patient records from another 11 locations.
By Jeff Wells • March 10, 2020 -
Albertsons files for public offering
The grocer has mounted its latest push for an IPO, registering an S-1 form with the Securities and Exchange Commission on Friday.
By Jeff Wells • March 9, 2020 -
Kroger reports strong Q4, maintains guidance amid coronavirus impact
Chief executive Rodney McMullen acknowledged higher sales in certain categories and limited supply chain exposure in China, but said it’s still too early to tell the extent of the virus’s effect on its business.
By Jeff Wells • March 5, 2020 -
Publix bumps up spending as Q4 sales sizzle
The grocer plans capital expenditures of $1.6 billion in 2020, a 40% increase over last year, to be spent on new supermarkets, remodels and tech upgrades.
By Jeff Wells • March 3, 2020 -
Sprouts margins stabilize, traffic remains low
The retailer expects to see further progress as it improves its supply chain, expands its digital strategies and shifts marketing dollars.
By Krishna Thakker • Feb. 21, 2020 -
Hy-Vee's restructuring plan zeroes in on management level
The plan is similar to competitors Kroger and Walmart as the Iowa-based grocer shifts the roles of some of its store leaders, potentially leading to layoffs.
By Thai Phi Le • Feb. 20, 2020 -
Blue Apron considers sale as it posts more losses
The meal kit company, which continued to lose customers and revenue in Q4, is exploring options that include looking for a buyer, a merger or raising capital.
By Jessica Dumont • Feb. 20, 2020 -
Price Chopper invests $54M for Kansas City-area growth
The Kansas-based grocer will open new stores, remodel existing ones and expand fresh departments, including bakery, deli and meat.
By Jessica Dumont • Feb. 19, 2020