business news in context, analysis with attitude

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

• The Triad Business Journal reports that Ahold Delhaize-owned Food Lion said yesterday that "it would spend $178 million renovating and updating 93 stores ... According to a release, the investment includes remodeling the stores, additional price investments throughout the year and investments in associates and the community through its Food Lion Feeds program."

Smart move .., especially because competition from companies like Publix and Lidl is going to make the market a lot tougher.

• Target said yesterday that its fourth quarter same-store sales were down 1.5 percent, with Q4 net sales down 4.3 percent to $20.69 billion, and net income down to $817 million from $1.43 billion during the same period a year earlier.

Reuters noted that it is Target's sixth straight quarterly decline.

• The San Jose Mercury News reports that "four of the five Andronico’s Community Market grocery stores that Safeway bought at the end of 2016 will reopen this week as Safeway Community Markets." The stores, scheduled to open tomorrow, are in Berkeley (two of them), Los Altos, and San Anselmo.

The story says that "Andronico’s San Francisco location reopened in early February after a revamp but is still branded as Andronico’s. The goal is to transition the name of San Francisco store to Safeway Community Markets, said a Safeway spokeswoman, but the company has to obtain permits under the city’s formula retail rules."

• In Florida, the Sun Sentinel reports that convenience store chain Wawa has announced plans to open its first three South Florida stores on March 23. The three units are just part of the company's Florida expansion plans following "years of Wawa development in the northern and western sections of the state."

The company now has more than 100 units in Florida, with plans to open 50 locations in South Florida over the next five years.
KC's View: