Thursday, July 18, 2024

Unknown number of Stop & Shop stores to shutter

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Ahold Delhaize USA will close an unspecified number of Stop & Shop stores, the company announced in a recent investor strategy day.

On Wednesday, Ahold Delhaize USA CEO JJ Fleeman said an evaluation of Stop & Shop’s overall portfolio had been completed and that underperforming stores will be shut down to create a healthy store base for the long term.

Stop & Shop currently operates 397 stores in the U.S. as of April 16, according to data from ScrapeHero.

Ahold Delhaize USA, which operates Stop & Shop, Food Lion, Giant Food, The Giant Company, and Hannaford in the U.S., said the company will reveal the exact number of locations to be powered down later in the year.

Ahold Delhaize also used its investor strategy day to roll out its new “Growing Together” strategy, with a focus on technology, specifically apps, AI, and automation.

The European grocery retailer projects a savings of almost $5.5 billion over the next four years by using more cutting-edge resources.

Its omnichannel umbrella, which includes brick-and-mortar, apps, and websites, creates a landscape where shoppers spend up to three times more in the retailer’s most mature markets, Ahold Delhaize said in a press release. 

Ahold Delhaize also has a goal of capitalizing more on its private label brand  to the point where it accounts for 45% of total sales between now and 2028.

 

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