Stop & Shop is closing some grocery stores in the US Northeast because these stores aren’t doing well. This is to help the company improve its financial situation. Prices at grocery stores have gone up a bit recently, making shopping more expensive. This is according to a recent inflation report.
Reason for Stop & Shop is Closing
“Stop & Shop looked at all its stores and decided to close the ones that are not doing well,” said Gordon Reid, the chain’s president. This is to help the brand grow stronger in the future. Stop & Shop’s parent company, Ahold Delhaize from the Netherlands, said the stores will close in early November. The stores being closed are in all five states where Stop & Shop operates: 10 in New Jersey, eight in Massachusetts, seven in New York, five in Connecticut, and two in Rhode Island.
Bigger Changes in Grocery Stores
There are bigger changes happening in the US grocery market. Low-cost brand Aldi plans to open 800 new locations. Kroger and Albertson’s want to merge in a $25 billion deal, but the Federal Trade Commission is trying to stop it. Stop & Shop says it will still serve communities through its other stores, online shopping, and home delivery services. Employees from the closing stores will be offered other jobs in the company.
Future Plans
Even after these closures, the 110-year-old chain will still have more than 350 stores across its five states. Since 2018, Stop & Shop has updated about half of its stores, and these remodeled stores are doing better than those that haven’t been updated.
Besides Stop & Shop, Ahold Delhaize also owns Food Lion and Giant grocery stores in the US.