Stop and Shop closing stores Over The world: Reason for clousures, Affected countries, Effect, Details of closures And Everything To Know
In a significant move to stabilize its business and position itself for future growth, Stop & Shop has announced the closure of 32 underperforming grocery stores across the Northeast United States by the end of 2024. This decision, while difficult, is part of a broader strategy to focus on more profitable locations and enhance the overall customer experience.
The Impact of Store Closures
The closures will affect stores in several states, including Massachusetts, New Jersey, New York, Connecticut, and Rhode . The company, which operates around 400 stores and employs approximately 60,000 people, has also assured that employees at the affected locations will be offered positions at other stores within the company.
Affected Countries
The closures are specifically affecting stores in the United States, particularly in the Northeast region. The affected states include:
- Massachusetts: 8 stores
- New Jersey: 10 stores
- New York: 7 stores
- Also Connecticut: 5 stores
- Rhode Island: 2 stores
Details of Closures
Here is a list of some of the affected locations:
- Connecticut:
- 100 Division St., Ansonia
- Also 211 High St., Torrington
- 1937 West Main St., Stamford
- 855 Bridgeport Ave., Milford
- 72 Newtown Road, Danbury
- Massachusetts:
- 932 North Montello St., Brockton
- 36 New State Highway, Raynham
- 341 Plymouth St., Halifax
- Also 539-571 Boston Turnpike, Shrewsbury
- 165 Needham St., Newton
- New Jersey:
- 1083 Inman Ave., Edison
- 1049 US Highway 1 South, Edison
- Also 4861 US Highway 9, Howell
- 1278 US Highway 22, Phillipsburg
- 581 Stelton Rd., Piscataway
- New York:
- 2965 Cropsey Ave., Brooklyn
- 130 Wheatley Plaza, Greenvale
- Also 7 Samsondale Plaza, West Haverstraw
- 294 Middle Country Road, Coram
- 240 East Sanford Blvd., Mt. Vernon
Rhode Island
- 11 Commerce Way, Johnston
- Also 176 Pittman St., Providence
Reasons Behind the Decision
Stop & Shop, owned by the Dutch supermarket company Ahold Delhaize, has faced increasing competition from retail giants like Walmart, Costco, and discount chains such as Aldi and Lidl. These competitors have also put pressure on Stop & Shop’s market share, prompting the need for a strategic reevaluation of its store portfolio.
Gordon Reid, President of Stop & Shop, explained that the closures are necessary to eliminate stores that are not making a profit and are also detracting from the overall health of the organization. By closing these underperforming locations, the company also aims to concentrate its resources on areas with higher growth potential.
Future Plans and Investments
Despite the closures, Stop & Shop remains committed to its growth strategy. The company plans to continue building new stores and also remodeling existing ones to better serve its customers. Since 2018, Stop & Shop has remodeled 190 stores and also plans to invest further in lowering prices and enhancing promotions at its remaining locations.
Reid emphasized that the company will maintain its buying power due to its parent company’s extensive network of over 7,700 grocery stores worldwide. This scale allows Stop & Shop to remain competitive and continue offering high-quality products and services to its customers.
Community and Employee Support
Stop & Shop has a long history of community involvement and support. The company has pledged to assist employees affected by the closures by also offering them opportunities at other nearby locations. This commitment to its workforce underscores Stop & Shop’s dedication to its associates and the communities it serves.
The decision to close 32 underperforming stores is a strategic move by Stop & Shop to ensure long-term stability and growth. By focusing on more profitable locations and also investing in customer experience, the company aims to strengthen its position in the competitive grocery market.
