The Denver Post that just five months after launching its new SmartCo Foods format in the Mile High City, Smart & Final is closing the five stores down, saying that they did not live up to expectations and that projections showed little in the way of progress.
According to the story, “Denver had been the first market for SmartCo. The chain billed itself as a grocery hybrid, offering discount prices on bulk purchases as well as single-item sales, and had features such as delis, bakeries, and produce and meat departments.”
“While we regret having to close these stores and the impact this will have on our Colorado employees and customers, we remain committed to the SmartCo Foods concept and will open stores under the SmartCo Foods banner in other markets where we believe the concept will be successful," Smart & Final president Dave Hirz said in a statement.
The next SmartCo store is scheduled to open later this week in California, and another one is planned for Phoenix next year.
According to the story, “Denver had been the first market for SmartCo. The chain billed itself as a grocery hybrid, offering discount prices on bulk purchases as well as single-item sales, and had features such as delis, bakeries, and produce and meat departments.”
“While we regret having to close these stores and the impact this will have on our Colorado employees and customers, we remain committed to the SmartCo Foods concept and will open stores under the SmartCo Foods banner in other markets where we believe the concept will be successful," Smart & Final president Dave Hirz said in a statement.
The next SmartCo store is scheduled to open later this week in California, and another one is planned for Phoenix next year.
- KC's View:
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They have to be asking themselves serious questions at Smart & Final headquarters about the whole planning process. They create a new format, they find a city in which to debut it, all the economic factors seem to be positioned in its favor, and then they have to close it down after five months.
I mean, on the one hand you have to applaud them for being decisive and cutting their losses so quickly. But on the other hand ...
