Finances & Deals: Page 6
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Retrieved from Foxtrot website.
Foxtrot files for bankruptcy
The decision to file for Chapter 7 was made during a meeting of Outfox’s board of directors, who reviewed the financial condition of the company and each of its subsidiaries.
By Brett Dworski • May 15, 2024 -
Brett Dworski/Grocery Dive
Foxtrot’s assets auctioned for $2.2M in what one attendee called a ‘completely ramrodded’ process
The virtual sale on Friday seemed to leave people with more questions than answers after organizer JPMorgan Chase didn’t describe the lot for sale and only entertained one bid.
By Brett Dworski • May 13, 2024 -
Courtesy of Instacart
Instacart posts strong Q1 results, names new CFO
The grocery e-commerce company’s revenue, order volume and profitability all exceeded its projections during the period.
By Sam Silverstein • May 9, 2024 -
Kaarin Vembar/Grocery Dive
Foxtrot’s assets to be sold this week
Friday’s foreclosure sale will include “substantially all of the assets” of the c-store retailer, including inventory, intellectual property, documents and more.
By Brett Dworski • May 9, 2024 -
Jessica Dumont/Grocery Dive
Grocery Outlet faces headwinds from tech transitions
The discount grocer has been frustrated by issues stemming from its recently upgraded product inventory and financial reporting platforms, President and CEO RJ Sheedy said.
By Catherine Douglas Moran • May 8, 2024 -
Courtesy of Sprouts Farmers Market
Sprouts records another robust quarter as it eyes further growth
The specialty grocer, which posted a 4% rise in comps during Q1, sees an opportunity to open more than 300 additional stores across several key states.
By Catherine Douglas Moran • May 1, 2024 -
Tops buys 5 stores
The purchase includes four full-service stores and a Tops Xpress in the greater Buffalo, New York, area previously run by a longtime franchise partner.
By Catherine Douglas Moran • April 30, 2024 -
Catherine Douglas Moran/Grocery Dive
Will Kroger and Albertsons’ revised divestiture plan satisfy the FTC?
The grocers’ new deal with C&S Wholesale Grocers indicates they have heard the agency’s concerns — but whether it will be enough to get their proposed merger through remains unclear, analysts said.
By Sam Silverstein • April 29, 2024 -
Courtesy of Ahold Delhaize
Ahold Delhaize allocates proceeds of its green bond to sustainability efforts
The Dutch grocer allotted the largest portion of the earnings toward green buildings and energy efficiencies.
By Peyton Bigora • April 26, 2024 -
Permission granted by Foxtrot
Foxtrot, Dom’s sued amid mass layoff
A class action complaint claims the companies violated the WARN Act by failing to give its employees at least 60 days notice of the shutdown.
By Brett Dworski • April 25, 2024 -
Sam Silverstein/Grocery Dive
Grocery e-commerce sales predicted to grow 3 times faster than in-store sales, report finds
Brick Meets Click’s latest five-year forecast notes that pickup will continue to dominate over delivery and ship-to-home.
By Peyton Bigora • April 25, 2024 -
Courtesy of Albertsons
Albertsons sees more turmoil ahead as it closes the books on a tough year
The grocer posted anemic same-store sales growth during its latest quarter, with lower inflation and a growing reliance on pharmacy posing key challenges.
By Sam Silverstein • April 23, 2024 -
Courtesy of Albertsons
Kroger and Albertsons update divestiture plan with C&S
The grocery chains have increased the number of stores they plan to divest and added other assets to the deal as they press ahead with their embattled merger plan.
By Sam Silverstein , Catherine Douglas Moran • April 22, 2024 -
Catherine Douglas Moran/Grocery Dive
Farm bill proposal won’t cut SNAP benefits: House ag chair
Republicans are pushing to return to a cost-neutral process when determining funds for food assistance.
By Sarah Zimmerman • April 17, 2024 -
Photo illustration: Getty Images; Albertsons
How grocers have leaned into loyalty
Loyalty programs have grown in importance as grocers work to convey to customers that they are on their side — not inflation’s. Here are the most notable updates so far this year.
By Peyton Bigora • April 15, 2024 -
Getty Images
Maison Solutions buys Arizona grocer for $22M
The acquisition of Lee Lee Oriental Supermart will add $70 million in annual revenue to Maison, effectively doubling its sales.
By Peyton Bigora • April 10, 2024 -
Sam Silverstein/Grocery Dive
Ahold Delhaize and 4 other grocers establish venture capital fund
W23 Global will invest $125 million over five years in small businesses that support in-store and online shopping experiences as well as sustainability initiatives.
By Peyton Bigora • April 8, 2024 -
Sam Silverstein/Grocery Dive
Lower grocery comps reflect new challenges for an industry in transition
Retailers are facing pressure to maintain sales volumes as the boosts they received from the pandemic and inflation fade, experts say.
By Sam Silverstein • April 2, 2024 -
Catherine Douglas Moran/Grocery Dive
Do Kroger and Albertsons need to revise their divestiture deal with C&S?
The grocery giants may need to rethink their plan to offload assets as they look to appease regulators with their proposed mega-merger, analysts say.
By Catherine Douglas Moran • March 25, 2024 -
Peyton Bigora/Grocery Dive
Sprouts loyalty program looks to significantly boost first-party data collection
Set to pilot this summer, the specialty grocer’s loyalty program will operate on a points-based system and offer better insights into shopper behavior.
By Peyton Bigora • March 21, 2024 -
Courtesy of Kroger
Kroger to sell specialty pharmacy division
The grocer is parting ways with the healthcare unit as it focuses its attention on overcoming regulatory opposition to its planned merger with Albertsons.
By Sam Silverstein • March 19, 2024 -
Courtesy of Kroger
Kroger and Albertsons hit back at the FTC
The regulatory agency has mischaracterized competition and labor dynamics in the grocery industry in seeking to block their merger, the grocers said in filings this week.
By Sam Silverstein • March 15, 2024 -
Joe Raedle via Getty Images
Dollar Tree will soon offer products that cost $7
Price points for hundreds of goods will now range up to that amount as the retailer aims to reach higher-income shoppers.
By Peyton Bigora • March 13, 2024 -
Courtesy of Kroger
Kroger reports improved profit line as it girds for battle with FTC
The grocer is determined to overcome the government’s effort to stop its merger with Albertsons but sees room to grow even if it can't consummate the deal, its CEO said.
By Sam Silverstein • March 8, 2024 -
Courtesy of Target
Target to launch paid membership program to rival Amazon Prime, Walmart+
Target Circle 360 will cost $99 a year and comes as the retailer plans 300 new stores in the coming decade.
By Nate Delesline III • March 5, 2024
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