Underperforming Stop & Shops to Close

Ahold Delhaize, parent company of Stop & Shop, said Thursday it would close an undisclosed number of its banner store locations later this year, reports Reuters.

"Stop & Shop has already evaluated its overall portfolio and will make difficult decisions to close underperforming stores to create a healthy store base for the long term," the group's U.S. CEO JJ Fleeman said during a call with analysts.

Located throughout the U.S. Northeast, Stop & Shop is one of the group's five brands in the country and operates nearly 400 stores. 

Additionally, Ahold Delhaize recently launched its Growing Together strategy, outlining its roadmap through 2028. One of its financial goals includes generating strong cash flow to drive shareholder value. Full Story (Subscription Required)