Grocery store chain Stop & Shop says it will close 32 underperforming grocery stores across the Northeast by the end of this year.
Jump into summer fun with this week’s amazing Insider DealsFILE - People walk outside a Stop & Shop in Newport, R.I., Feb. 13, 2012. R.I. The chain, which is owned by the Dutch supermarket company Ahold Delhaize, said it will close 10 stores in New Jersey, eight stores in Massachusetts, seven stores in New York, five storesat affected stores would be offered other jobs within the company.
In an interview with The Associated Press, Stop & Shop President Gordon Reid said the closures are a difficult but necessary step to stabilize the business. Reid said Stop & Shop will continue to build new stores and remodel existing ones. The brand, which has remodeled 190 stores since 2018, will also invest in lower prices and promotions at its remaining stores, he said.
Burt Flickinger, a longtime retail consultant and owner of Strategic Resource Group, said many of Stop & Shop's problems were self-inflicted. The brand closed fresh meat and seafood counters in some stores, for example, which cut down on the amount customers spent in those stores.
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