Ahold Delhaize, the parent company of Quincy, Massachusetts-based Stop & Shop, announced plans to close an unspecified number of grocery stores, part of its plan to improve the performance of the supermarket chain.The long term vision for the grocery store brand was made public at the parent company’s investor strategy day held last Thursday outside of Amsterdam in The Netherlands. “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,” Ahold Delhaize USA CEO JJ Fleeman said at the investor day. Fleeman said the company was focusing on improving the cost structure of the grocery store brand. He says the company intends to “optimize the store portfolio” over time, while focusing immediately on bringing down costs for customers.The CEO said Stop & Shop would “focus on the markets that are most important, including those where the brand has strong density, holds a strong market position, or has stores that are performing well.””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. WCVB reached out directly to Stop & Shop directly for comment following the comments made by the CEO at investor day. “Stop & Shop will make some difficult decisions to close select underperforming store locations to help ensure the long-term health and future growth for our business,” a spokesperson said in a written response. Fleeman said Stop & Shop customers were responding positively to the company’s remodeling program, which has taken place in nearly half of its close to 400 stores across Massachusetts, New England and the Northeast. The company’s remodeling efforts slowed during the COVID-19 pandemic, contributing to a loss in market share.Fleeman said the company would continue to invest in stores and attempt to create value for customers. “Stop and Shop will have a relentless focus on operational excellence and efficiency at every level of its organization,” Fleeman told investors. “This will include a more efficient organizational structure, along with a focus on quality, fresh products, well-stocked shelves, further supply chain efficiency and fantastic service in each of its stores.”In addition to Stop & Shop, Ahold Delhaize operates five different grocery store brands in the United States, including Food Lion, Hannaford, Giant Food and The Giant Company.
Ahold Delhaize, the parent company of Quincy, Massachusetts-based Stop & Shop, announced plans to close an unspecified number of grocery stores, part of its plan to improve the performance of the supermarket chain.
The long term vision for the grocery store brand was made public at the parent company’s investor strategy day held last Thursday outside of Amsterdam in The Netherlands.
“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,” Ahold Delhaize USA CEO JJ Fleeman said at the investor day.
Fleeman said the company was focusing on improving the cost structure of the grocery store brand. He says the company intends to “optimize the store portfolio” over time, while focusing immediately on bringing down costs for customers.
The CEO said Stop & Shop would “focus on the markets that are most important, including those where the brand has strong density, holds a strong market position, or has stores that are performing well.”
“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.
WCVB reached out directly to Stop & Shop directly for comment following the comments made by the CEO at investor day.
“Stop & Shop will make some difficult decisions to close select underperforming store locations to help ensure the long-term health and future growth for our business,” a spokesperson said in a written response.
Fleeman said Stop & Shop customers were responding positively to the company’s remodeling program, which has taken place in nearly half of its close to 400 stores across Massachusetts, New England and the Northeast.
The company’s remodeling efforts slowed during the COVID-19 pandemic, contributing to a loss in market share.
Fleeman said the company would continue to invest in stores and attempt to create value for customers.
“Stop and Shop will have a relentless focus on operational excellence and efficiency at every level of its organization,” Fleeman told investors. “This will include a more efficient organizational structure, along with a focus on quality, fresh products, well-stocked shelves, further supply chain efficiency and fantastic service in each of its stores.”
In addition to Stop & Shop, Ahold Delhaize operates five different grocery store brands in the United States, including Food Lion, Hannaford, Giant Food and The Giant Company.
