retail news in context, analysis with attitude

• The Cincinnati Enquirer reports that "Kroger’s Dillons chain is selling four stores in Springfield, Missouri and exiting that market … Kroger will sell the stores to Price Cutter, a Springfield-based employed-owned company that operates 48 stores in Missouri, Oklahoma and Kansas … The move will leave Kroger with only 11 stores in Missouri."

Terms of the deal were not disclosed.


• In the UK, Sainsbury CEO Mike Coupe (no relation to the Content Guy, as far as we know) is quoted in the Telegraph as saying that the company is undergoing a “once-in-a-generation” change and plans to shelve its plans to build new stores. Coupe is quoted in the story as saying that only 75 percent of the company's units are in the "right locations and are of the right size for our food and non-food offer."

Coupe says that the company has "examined every aspect of our business and we have good foundations for future growth in our supermarket and convenience estates, our online and non-food businesses and in Sainsbury's Bank. However, we need to make sure that we are investing in the right areas and by reducing our costs and capital expenditure we are ensuring that we have the resources to enable us to do so."

The statements came as Sainsbury announced a pre-tax loss quarterly loss that was the equivalent of $459 million (US).
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