California budget chain Grocery Outlet closing multiple stores
A slew of closures have left grocery shoppers in California with fewer affordable options. Grocery Outlet — a major discount retailer — first announced plans to shut down 36 “financially underperforming stores” locations back in March.
Reported by 1 outlet — New York Post. See all sources ↓
A slew of closures have left grocery shoppers in California with fewer affordable options. Grocery Outlet — a major discount retailer — first announced plans to shut down 36 “financially underperforming stores” locations back in March. The shutters would take place all across the country as part of the company’s “optimization plan.” The scheme would “improve operational execution, strengthen long-term profitability and increase cash flow generation,” according to a company earnings call. The California-based chain has since closed down 12 stores with eight of them in The Golden State, the grocery behemoth said on its latest August 12 earnings call.
Read the full report at New York Post ↗
Why it matters
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- What's the story?
- A slew of closures have left grocery shoppers in California with fewer affordable options. Grocery Outlet — a major discount retailer — first announced plans to shut down 36 “financially underperforming stores” locations back in March.
- How widely is it covered?
- 1 outlet, average source rating 5.0/10.
- When was it last updated?
- 10m ago.
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California budget chain Grocery Outlet closing multiple stores
Sources1TypeCoverageNew York Post