Stop & Shop is closing seven stores in the New York City area and 32 stores overall as inflation-hit shoppers seek cheaper supermarkets. The company made the announcement on Friday..
The struggling chain, owned by Dutch conglomerate Ahold Delhaize, announced plans to close “underperforming” stores in May, with industry experts predicting up to 50 stores could close, The Washington Post reported.
The Quincy, Massachusetts-based company plans to close four stores on Long Island – Greenvale, Hempstead, East Meadow and Coram – as well as one store in Brooklyn, as well as stores in Westchester and Rockland counties by November 2nd.
Other store closures will take place in New Jersey, Massachusetts, Connecticut and Rhode Island, totaling 8% of the company’s stores.
“[We’re focusing on] “We are offering everyday price reductions and strong promotions,” the company said in a statement on Friday.
US chief executive JJ Freeman previously said: “Stop & Shop’s value proposition and pricing are simply not good enough.”
Shoppers pay 12% to 14% more at Stop & Shop, according to Bert Flickinger of grocery consulting firm Strategic Resource Group, but consumers have grown weary of the chain during the pandemic as inflation has soared.
About 3,800 union members represented by the UFCW will lose their jobs but will be offered jobs at nearby locations, said John T. Nicolai, president of Local 464A, which represents 12 of the closing stores in New York and New Jersey.
Nicolai added that there are no plans to lay off any employees due to high turnover.
