retail news in context, analysis with attitude

Bloomberg reports that “FreshDirect Inc., the New York-based online grocer, plans to raise as much as $200 million to expand in Washington and Baltimore, according to two people with knowledge of the situation ... The grocer, led by Chief Executive Officer Rick Braddock, currently operates in the five boroughs of New York and parts of New Jersey and Connecticut. In July, Braddock told Bloomberg News the grocer might pursue an initial public offering to help fund its expansion.”

The company said that it is seeing 20 percent sales growth and plans to expand beyond the New York metro area, but will not offer specifics about its growth plans.
KC's View:
I hope that Fresh Direct is on sound financial footing and that it plans to expand...because I think it grows the overall pie and is good for the industry. There have been some vague rumblings to the contrary lately, and so this news can be seen as positive.

This also means that retailers competing in these markets that are not engaged with e-commerce need to move quickly ... or risk becoming irrelevant to the next generation of consumers.