retail news in context, analysis with attitude

• Wegmans has set an opening date for its first New York City location, a 74,000 square foot store located in the Brooklyn Navy Yard - October 27.

A story in the Grub Street column in New York magazine points out that “inside shoppers will find 60,000 products, including 350 varieties of cheese … There will also be take-home meals created by chef David Bouley, a bar, and a café. Altogether, the new location will hire 500 employees, 70 percent of whom will be part-time.”


• The Lakeland Ledger reports that Publix Super Markets had a pretty good first quarter - profit was up 44 percent to $981 million compared to $680.3 million in the same period a year ago, “juiced … by a $321 million gain on the value of stock Publix held in the corporate portfolio during this year’s first quarter, the report said. But even after subtracting the gain from first quarter 2019 results and making other accounting adjustments, such as a $32 million stock market loss in the first quarter 2018, Publix still had a $741.7 million profit in the quarter ending March 30, a 5.3% increase from the adjusted $704.2 million profit a year ago.”

Quarterly sales were up 4.3 percent to $9.7 billion, while same-store sales were up two percent.
KC's View: