business news in context, analysis with attitude

...with occasional, brief, italicized and sometimes gratuitous commentary...

• The Bergen Record reports that the “Great Atlantic & Pacific Tea Co. formally emerged from bankruptcy March 13 and as a newly private corporation is keeping quiet, for the time being, about its turnaround strategy. But recent remodels of Pathmark stores in North Jersey show that one concept A&P is banking on is the ‘store of the neighborhood‘ - locations that reflect the culture and tastes of the customers who live nearby.”

The story goes on to note that “competitors say customizing a store to meet local tastes is nothing new, and that A&P is playing catch-up with a strategy that most supermarkets have been employing for years. But for A&P it is a sign of new life in a company that has had its hands tied over the past two years by financial uncertainties that led to its bankruptcy filing in December 2010, and by the drawn-out bankruptcy process.”

• United Supermarkets announced plans to open Lubbock’s third Market Street location, which will reflect United Supermarkets’ responsiveness to guests’ requests, a million-dollar investment in its health-and-wellness product line, and a visible effort to be an environmentally friendly corporate citizen.
Construction on the new store officially got under way recently at the southwest corner of 19th and Quaker, with the intent to have the store open in time for the Thanksgiving rush.

• In Toronto, the Globe and Mail reports that “the McCains and Sobeys, two powerful business families with deep roots in rural Atlantic Canada, are joining forces for the first time in an investment venture to inject capital into enterprises in smaller towns and cities across Canada.

“Their new firm, SeaFort Capital Inc., which will be based in Halifax, will act as a private-equity investment vehicle for Donald Sobey, one of the architects of the national grocery chain, his son Rob, a top manager in the Sobey empire, and Scott McCain, a senior executive in Maple Leaf Foods and older son of the late Wallace McCain, co-founder of the family’s global French fry business.”
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