Stop & Shop parent company says 'underperforming' stores set to close
Stop & Shop's parent company, Ahold Delhaize, has announced plans to close an undisclosed number of "underperforming" stores.
J.J. Fleeman, who is the chief executive officer of Ahold Delhaize USA, shared the news during "Strategy Day 2024," which was held in The Netherlands Thursday. He said closing the stores is part of a plan to improve the supermarket chain's overall performance.
Stop and Shop has already evaluated its overall portfolio and will make difficult decisions to close underperforming stores to create a healthy store base for the long term and grow the brand," Fleeman said at the event.As Stop & Shop embarks on its next phase, we will be decisive and take deliberate and appropriate actions to ensure a stable future for the brand," he added.Fleeman also said U.S. stores are strong and thriving, as he said the company strives to make local connections and bring together communities. He said there new stores and formats, including some that have recently been remodeled.
In the U.S. alone, he said the company makes $59 billion in sales every year, with 24 million customers each week in 19 states in 2,000 stores and online platforms.
“As the largest grocery retailer on the East Coast, Ahold Delhaize USA and its local brands have a rich heritage in the markets they serve, with loyal customer bases, trusted products, and a reputation for being an integral part of their local communities," Fleeman said. "Over the next several years, we will strengthen the market position for each of our brands, including the revitalization of Stop & Shop. We will improve value for customers through price investments and enhance the customer experience through 1,000 targeted remodels and new stores. We will lead, grow and differentiate in Own Brands, build digital relationships through more personalized value, and improve operational efficiency at every level. With these moves, underpinned by strong talent and innovation, our brands are well positioned to lead in the grocery industry for years to come.”
Stop & Shop noted the company globally operates in nine countries on three continents more than 7,000 stores, with 400,000 employees and 63 millions customers per week.
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