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Safeway closing more stores as Albertsons reshapes footprint after failed Kroger merger
Fox Business • • business
Key Points:
- Albertsons Companies, parent of Safeway, is closing additional stores as it reassesses its retail footprint following the collapse of its proposed $24.6 billion merger with Kroger.
- The company closed 35 stores during fiscal 2025, a significant increase from previous years, while opening nine new stores, resulting in a net sales reduction of $63.4 million due to closures.
- Albertsons invested approximately $1.83 billion in fiscal 2025 on store remodels, new store openings, and digital and technology platforms, completing 94 remodels during the year.
- The Federal Trade Commission blocked the Kroger-Albertsons merger in December 2024 over competition concerns, leading to litigation between the two companies over a $600 million termination fee.
- Albertsons is working to reassign affected employees from closing Safeway stores to other locations but has not disclosed a full list of planned closures.
