business news in context, analysis with attitude

Fresh Market said yesterday that it will close three stores in the Sacramento, California, area and one store in Houston, Texas.

The closings, which are taking place immediately, are said by the company to be "in the best interest of the company and its future profitability."

According to the Sacramento Bee story, the 151-store Fresh Market "has two other California stores, in Palo Alto and Santa Barbara … Last year, it opened 20 stores and has signed leases for another 25 future locations. On its website, two of the pending locations are Laguna Hills and Yorba Linda in Southern California."

However, the story also notes that in a recent earnings report Fresh Market management said that it believes that a “greater number of new store opportunities exist in markets east of the Mississippi River."
KC's View:
I wonder if these days, with all the increased competition, it makes more sense than ever to cut off diseased and dying limbs as fast as one can. Can't be sitting there for very long with distractions that also are hurting the bottom line.