Stop & Shop Cos., Quincy, Mass., said the acquisitions of 55 Purity stores and 17 Melmarkets/Foodtown units in late 1995 helped boost sales 8% to $4.07 billion for the year and 17% to $1.06 billion for the fourth quarter ended Jan. 27. Same-store sales rose 1% for the year and 3% for the quarter. The company noted that 2% of the quarterly gain was due to heavy sales following record-breaking snowfalls. The company is expected to release earnings for the year and fourth quarter in early March.
of fresh salads. Fresh Express paid $4.4 million for the store and about 21 acres of land. The store, which closed in November, will be converted into a produce processing plant, said Steve Taylor, chief executive officer of Fresh Express.
Giant Food, Landover, Md., elected three new members to its board of directors: Raymond "Chip" Mason, president, chairman and chief executive officer of Legg Mason Wood Walker Inc., Baltimore, a financial services organization; Rosemary Thorne, finance director at J. Sainsbury, London, and Michael Warwick Broomfield, managing director of Sainsbury's Savacentre hypermarket subsidiary.
Ralphs Grocery Co., Compton, Calif., will open a 45,000-square-foot store in San Diego that will be the first supermarket in the downtown area in more than 15 years. To blend into the urban surroundings, the store will feature an all-brick exterior reminiscent of a warehouse, plus windows on parts of three sides that will allow pedestrians to see into the market.
Farm Fresh Supermarkets of Maryland, based in Baltimore, is selling three stores to Metro Markets, Randallstown, Md., and five stores to Stop, Shop & Save, Baltimore. Farm Fresh of Maryland, which is not related to Farm Fresh of Norfolk, Va., is liquidating its assets under a Chapter 7
involuntary bankruptcy proceeding prompted by three creditors in November. A court-appointed trustee for the chain is seeking buyers for the two remaining Farm Fresh stores.
Lauer's Super Thrift President Ed Lauer testified before the House Committee on Government Reform and Oversight that the government needs to reduce onerous regulations on business. Specifically, the head of the Pasadena, Md.-based retailer pointed to three problem areas: a proposal that the Federal Communications Commission mandate all workplace telephones be hearing-aid-compatible, a plan by the Consumer Product Safety Commission to require child safety seat belts in all new shopping carts and a sampling/testing program for E. coli in ground beef at store level.
Supermarket food prices ended 1995 a slim 2% above the year before, the federal government reported Thursday. With economic indicators pointing to another year of overall low inflation, food prices in 1996 are forecast to increase between 2% and 4%, according to U.S. Department of Agriculture economists. In light of continued low inflation and slowing economic growth, the Federal Reserve Board last week lowered short-term interest rates a quarter-point to stimulate spending. The cut also followed the release last week of data showing that the Consumer Confidence Index tumbled almost 13 points to 87, reflecting the continued cautious mood among shoppers.
Eatzi's market, a new home-meal-replacement concept launched in Dallas, has far exceeded sales projections in its first three weeks of operation, said a spokesman for Eatzi's. The 8,000-square-foot facility, which opened in downtown Dallas Jan. 16, combines the home-meal-replacement concepts that both supermarkets and restaurants have been experimenting with. Eatzi's is a joint venture between well-known restaurateur Phil Romano and Brinker International, a restaurant chain developer based in Dallas.
Kmart Corp., Troy, Mich., announced an immediate restructuring of its merchandising organization. Kmart's softlines, hardlines and consumables general merchandise managers will report to Warren Flick, president and general merchandise manager for U.S. Kmart Stores. Among the changes, Andy Giancamilli was promoted to senior vice president and general merchandise manager, Consumables and Commodities, and maintains responsibility for all pharmacy, health and beauty care, and other consumable and commodity categories. Two vice presidents and general merchandise managers who will leave their posts to pursue other interests are Michele Fortune and William H. Parker.
Fleming Cos., Oklahoma City, sold 28 Brooks convenience stores in the Minneapolis and St. Paul area to privately held Twin Cities Stores Inc. Financial terms weren't disclosed. Through a new three-year supply agreement with Twin Cities Stores, Fleming will continue to supply food and general merchandise to the former Brooks stores, which average 3,000 square feet each.
