Stop & Shop confirms it will close an unspecified number of stores, with CEO saying prices are ‘not high enough’

POPULAR supermarket Stop & Shop is considering closing a number of stores due to financial difficulties.

The supermarket’s CEO claimed the store’s prices were not strong enough to support its success.

Ahold Delhaize is a multinational food retail group that operates, among others, the Stop & Shop supermarket chain.

The group plans to close an unspecified number of stores under the Stop & Shop brand as part of its ongoing efforts to improve the chain’s performance.

Stop & Shop also aims to improve its position with customers in East Coast markets by implementing initiatives such as price reductions and store renovation projects, according to JJ Fleeman, CEO of Ahold Delhaize.

“The value proposition and pricing at Stop & Shop just isn’t strong enough,” Fleeman said.

The supermarket chain has renovated around half of its nearly 400 stores since launching a revitalization campaign in 2018.

However, renovation efforts have slowed during the pandemic, leading to a decline in market share.

The CEO of Ahold Delhaize said that Stop & Shop locations that were renovated saw significant performance increases.

These are over-performing stores that have not been renovated.

He also explained that Stop & Shop has a strong e-commerce presence, the highest among the parent company’s five U.S. banners.

But even with these strengths, the CEO believes that Stop & Shop is “not where we want or need to be” and needs to change direction.

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