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David Goodman | Jun 15, 2020 |
Supermarket News

Instacart raises $225 million in new funding

Instacart announced last week that it raised $225 million in new financing as consumer demand for online grocery delivery and pickup services has experienced an “unprecedented surge” since the COVID-19 outbreak. The investment, led by DST Global and General Catalyst, along with existing investor D1 Capital Partners, raised the company’s valuation to $13.7 billion. According […]
David Goodman | Jun 15, 2020 |
Supermarket News

Kimco sells part of its stake in Albertsons

Kimco Realty reported last week that it received $156 million as part of Apollo Global Management’s $1.75 billion purchase of Albertsons convertible preferred stock, a transaction that took place in May. As a result, Kimco’s interest in Albertsons decreased from 9.29% to 7.5%. Kimco also reported that Albertsons used $1.68 billion in net proceeds from […]
David Goodman | Jun 03, 2020 |
Supermarket News

Aldi to launch Curbside Pickup Service

Aldi announced that it plans to launch Curbside Grocery Pickup service at nearly 600 stores in 35 states by the end of July. The service will enable customers to order via Aldi’s Instacart page or mobile app, and Aldi employees will pack the groceries and bring them out to customers’ vehicles. The decision came after […]
David Goodman | Jun 02, 2020 |
Supermarket News

Giant to open new store in Richboro, Bucks County, PA

The Philadelphia Business Journal reported that Giant plans to open a new 50,000 square foot store at Richboro Plaza in Bucks County. The shopping center was formerly anchored by Murray’s Richboro Market, which closed two years ago and was about 25,000 square feet. Before Murray’s, Shop n Bag occupied the space for several years. A […]
David Goodman | May 28, 2020 |
Supermarket News

Target digital sales jump 141% in fiscal first quarter

Target reported last week that it experienced double-digit sales gains in its fiscal 2020 first quarter, led by growth in online pickup and delivery, especially in food and beverage. Online sales climbed 141% compared to the same quarter last year. However, investments related to the coronavirus, including customer and employee safety, worker compensation, supply chain […]
David Goodman | May 28, 2020 |
Supermarket News

Private equity firm to purchase minority stake in Albertsons

Albertsons, the parent company for supermarket banners like Acme, Safeway, Jewel-Osco, Shaw’s and several others, announced last week that it plans to sell a 17.5% stake in the company to private equity firm Apollo Global Management. The transaction is expected to close by mid-June. Albertsons is owned by an investment group that includes Kimco and […]
David Goodman | May 27, 2020 |
Supermarket News

Developers seek to bring another Wegmans to Bucks County

Lower Makefield (Bucks County), PA supervisors are planning to meet next week with developers to discuss a proposed mixed-use overlay zoning designation for a 36-acre property across from Shady Brook Farm. The overlay would allow for several uses – from commercial to recreation – that could pave the way for a Wegmans grocery store. Despite […]
David Goodman | May 27, 2020 |
Supermarket News

Lidl opens 100th U.S. store

Lidl opened its 100th U.S. store earlier today in Suwanee, GA. Recent growth for the discount grocer has been steady, but when Lidl entered the U.S. market, they planned on having 100 stores by the summer of 2018. Since then, the company has seen leadership changes and real estate strategy shifts. Here is a breakdown […]
David Goodman | May 20, 2020 |
Supermarket News

Kroger earmarks $130 million for employee thank you pay

Kroger, the largest traditional supermarket chain in the U.S., announced that it has earmarked $130 million for special Thank You Pay to hourly grocery, supply chain, manufacturing, pharmacy and call center employees for their efforts during the COVID-19 pandemic. The payment follows an Appreciation Pay made at the beginning of the pandemic in March, and […]
David Goodman | May 13, 2020 |
Supermarket News

Industry leader says supply chain is stressed, not broken

Supermarket News interviewed Abe Eshkenazi, CEO of the Association for Supply Chain Management, to get some perspective on the issue of the American food supply amid the coronavirus. Here are some of the highlights. “From our perspective, we don’t think the food supply chain is broken as much as it is stressed,” Eshkenazi said. “When […]

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