Wednesday, May 04, 2016

The Fresh Market Closing All Stores In Iowa, Kansas, Missouri, & Texas

Grocery shoppers in the heartland will have one fewer store to choose from starting next week: The Fresh Market will close all of its stores in Texas, Iowa, Missouri, and Kansas. 

The grocer, which operates 175 stores in 23 states, announced Tuesday that it would close 13 stores on May 18, the Houston Chronicle reports.

The closures, which come just days after Apollo Global Management completed its $1.36 billion acquisition of the grocery chain, were initiated after an analysis of the company’s growth strategies and long-term finances.

CEO Rick Anicetti said in a statement that it was “a difficult but necessary step with the end goal of producing a strong, more agile company.”

Employees will be offered separation packages or the chance to work at other stores, The Fresh Market said.

“This shift also allows us to focus our energy and resources on the growth of our remaining stores, as well as new stores we have planned in the future,” Anicetti said. “We continue to pursue our strategy of offering exceptional products, engaging shopping experiences, and great customer service across all our stores.”

Analysts tell the Houston Chronicle that the chain likely found that it couldn’t compete with larger stores like H-E-B, Kroger, Whole Foods, Walmart and others.

“I think they were probably counting on the ’boutique’ aspect of popping in and getting a few things, being able to appeal to those as opposed to the once- or twice-weekly load-up-the cart shoppers,” Eric Lestin, senior vice president of retail real estate brokerage firm CBRE, said. “My sense is there just weren’t enough of those.”

In all, the closures affect 13 stores: two of which are in Iowa, two in Kansas, eight in Texas, and one in Missouri.

State City Address Zip Code
IA West Des Moines 5901 Mills Civic Parkway, Suite 4300 50266
IA Cedar Rapids 180 Collins Road NE 52402
KS Overland Park 6261 West 135th Street 66223
KS Wichita 1800 N. Rock Road 67206
MO St. Louis 11557 Olive Boulevard 63141
TX Dallas 3888 Oak Lawn Avenue 75219
TX Dallas 7331 Gaston Avenue 75214
TX Fort Worth 1751 River Run 76107
TX Houston 2617 West Holcombe Boulevard 77025
TX Houston 12516 Memorial Drive 77024
TX Houston 5016 San Felipe Street 77056
 TX Southlake 1001 E. Southlake Boulevard 76092
 TX Webster 1519 West Bay Area Boulevard 77598

Fresh Market to close all Texas stores, including 4 in Houston area [The Houston Chronicle]


by Ashlee Kieler via Consumerist

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