Grocery Outlet to close dozens of 'underperforming' stores [View all]
Grocery Outlet, the Emeryville-based discount grocer with a large Northern California footprint, said it plans to close 36 financially underperforming stores as it tries to improve profitability after reporting a steep quarterly loss.
The closures are part of a business "Optimization Plan" adopted by the company's board on Monday and expected to be "substantially completed during fiscal 2026," Grocery Outlet said in a news release Wednesday announcing fourth-quarter and full-year financial results.
"We made progress on our strategic priorities in 2025; however, our fourth-quarter results made clear that we have more work to do, and we're moving quickly," Jason Potter, the company's president and chief executive, said in a statement. "At the same time, we're closing underperforming stores, reshaping our new store growth strategy and reallocating resources to strengthen operating results and returns on capital. "
Grocery Outlet did not disclose which locations will be shuttered. The company, which has stores nationwide, also did not specify how many of the 36 stores are in California or the Bay Area.
https://finance.yahoo.com/news/grocery-outlet-close-dozens-underperforming-213011107.html
You'd figure with where the economy is a discount grocer would be doing better. Hope the one I shop at stays open.
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