Supermarket giants across US to close dozens of underperforming stores
New York Post • • business
Key Points:
- Major grocery chains like Kroger, Grocery Outlet, and Safeway are closing numerous underperforming stores nationwide, citing slow sales and the need to cut costs.
- Kroger plans to close 60 stores over 18 months, primarily affecting brands like Fred Meyer, Harris Teeter, and King Soopers, while also acquiring Giant Eagle to expand its network.
- Grocery Outlet will shutter 36 stores, mainly on the East Coast, representing about 6% of its total locations, due to underperformance.
- Safeway, part of Albertsons, has closed a few stores tied to expiring leases and plans more closures as part of a broader footprint reduction by its parent company.
- Walgreens is also closing less profitable stores as part of a multiyear cost-cutting plan, having announced the closure of approximately 1,200 stores over three years before scaling back after going private.
