Wal-Mart Stores on Friday said it was promoting Steve Bratspies to the role of U.S. chief merchandising officer, an office vacant at the retailer since the departure of Duncan Mac Naughton almost a year ago.
Gristedes, Met Food, King Kullen, H Mart and other supermarket operators appear to have been high bidders for a limited number of A&P owned stores that went to auction late last week, according to unconfirmed reports from labor unions with workers impacted by the sales.
Confirming long-held speculation, Wal-Mart Stores on Friday announced that it was laying off 450 associates at its home office in Bentonville, Ark. — changes CEO Doug McMillon said would help the retailer become “a more nimble organization that serves customer better.”
A&P in a document filed in U.S. Bankruptcy Court late Wednesday detailed $12.6 million in payments for top executives and other insiders in the year leading to its Chapter 11 bankruptcy — monies that creditors may seek to “claw back” in the case.
As Bill Smith sees it, the e-commerce space for groceries still has plenty of room to grow. And the CEO of Birmingham, Ala.-based Shipt intends to stake out ground for a service-oriented, membership-based, on-demand grocery concierge.
With the sale of 95 stores to Acme and Stop & Shop out of the way and 25 stores closing, A&P is now turning its attention to the disposal of the remainder of the chain — a process that could shape into an "everything must go" sale.