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SN Top 10: Walgreens, Save Mart, Kroger top the week’s headlines
July 1, 2024
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In this week’s recap of the Top 10 most popular Supermarket News articles, Walgreens plans to close ‘significant number’ of stores ranked as the week’s top story. Walgreens said it plans to close a “significant number” of its underperforming U.S. retail locations amid what it described as an extremely challenging operating environment. In a conference call with analysts discussing results for its fiscal third quarter, which ended May 31, CEO Tim Wentworth said that about 25% of the company’s 8,700 U.S. retail stores are currently underperforming.
Among other top stories:
Jim Pattison Group acquires Save Mart
Kroger CEO promises to raise wages, cut prices
Albertsons lifts land use restriction in Washington
Dollar stores banned in Oregon town
In other news, as Albertsons moves forward in its legal battle with the Federal Trade Commission and several state attorneys general over its proposed $24.6 billion purchase by Kroger, it’s upping the stakes on its legal efforts. According to a recent proxy statement filing with the Securities and Exchange Commission, the grocer paid its recently hired general counsel, Thomas Moriarty, a combined $4.7 million in compensation in fiscal year 2023.
More top stories:
UNFI CEO dispels sale rumors, points to forward-looking strategy
5 things: Is Walgreens in hot water?
July 4th cookout costs skyrocket
Strike threat from over 6,000 grocery workers appears to be over
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