Tuesday, March 27, 2018

Decelerating Retail News

Foot Locker plans to close approximately 110 stores this year, mostly under-performing locations. These closures augment the 147 stores the retailer closed in 2017; however, the retailer opened 94 new locations, bringing their global store count to 3,310...Toys R Us is planning to sell or close all 735 US stores. The news comes six months after the retailer filed for bankruptcy. The company is also closing all 100 UK stores... Supervalu has entered into three separate agreements to sell 21 of its 38 Farm Fresh Food & Pharmacy stores for about $43 million in cash to three retailers: Harris Teeter, Kroger and Food Lion. Supervalu is also involved in ongoing discussions to sell the remaining Farm Fresh locations... Southeastern Grocers, parent company of Winn-Dixie and Bi-Lo, will file for bankruptcy protection by the end of March and close 94 stores. The company will continue to operate 582 stores throughout its territory.

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