Financial news: Page 2

UNFI CEO: Recession and restaurant 'hesitation' will continue to fuel grocery growth

States are reopening, but Steve Spinner sees demand for meals at home continuing long term due to safety concerns and tighter budgets.

By Jeff Wells • June 11, 2020

Stop & Shop and King Kullen call off merger

The chains said they have terminated the agreement signed in late 2018 due to “significant, unforeseen changes in the marketplace,” largely driven by the COVID-19 pandemic.

By Jeff Wells • June 10, 2020

Food Lion to acquire 62 stores from Southeastern Grocers

The deal coincides with an announcement from Southeastern Grocers that it will exit the Bi-Lo brand and seek strategic alternatives, including potential sales, for its remaining stores.

By Jeff Wells • June 03, 2020

Costco will revive store sampling this summer

The club retailer, which saw U.S. store traffic decline 2% in Q3, hopes to spur shopper interest by bringing back fundamental parts of its store experience.

By Jeff Wells • May 29, 2020

Why the pandemic was a windfall for (some) dollar stores

Sales and profit growth at Dollar General were explosive as customers stocked up and stayed close to home during the pandemic. 

By Ben Unglesbee • May 29, 2020

Southeastern Grocers to open 8 Winn-Dixie stores in Florida

Four former Lucky's Markets and four Earth Fare locations will be converted to the southern grocery banner, with grand openings planned for later this year.

By Jessica Dumont • May 28, 2020

Imperfect Foods lands $72M in Series C funding

The money will go toward fueling the company's U.S. expansion, improving technology and increasing capabilities at fulfillment centers as demand surges during the pandemic.

By Jessica Dumont • May 20, 2020

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 07, 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 06, 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 08, 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 07, 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 01, 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 01, 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