Stop & Shop is closing 32 ‘underperforming’ locations. Here’s where
CNN
Stop & Shop is closing 32 underperforming grocery stores across the US northeast as part of the company’s efforts to improve its financial performance.
Stop & Shop is closing 32 underperforming grocery stores across the US northeast as part of the company’s efforts to improve its financial performance. Shoppers are also being squeezed by higher prices at the grocery store, with food prices experiencing modest upticks last month, according to the newest inflation report. “Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” said the chain’s president Gordon Reid in a release. Ahold Delhaize, the chain’s Dutch parent company, revealed the locations Friday adding that they will close in early November. The closures come amid a broader shake up in the US grocery industry including the rise of low-cost grocery brand Aldi, which plans to open open 800 locations. In addition, Kroger and Albertson’s announced plans for a $25 billion merger earlier this year. The Federal Trade Commission has sued to block it. Ahold Delhaize announced in May at its investor day that store reductions were planned, but didn’t specify locations. The affected stores span all five states it has locations in, including 10 in New Jersey, eight in Massachusetts, seven in New York, five in Connecticut plus two locations in Rhode Island. Stop & Shop said it “remains committed to serving its communities through other store locations, online shopping and home delivery services.” Employees impacted by the closures will be offered other opportunities in the company.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.