Citing an oversaturated marketplace, Kroger said yesterday that it plans to close its 14 stores in the Raleigh-Durham, North Carolina, market.
However, this doesn’t mean it is abandoning the market - Kroger’s Harris Teeter subsidiary will continue to operate there and will, in fact, acquire eight of the closing units and convert them to the Harris Teeter banner.
However, this doesn’t mean it is abandoning the market - Kroger’s Harris Teeter subsidiary will continue to operate there and will, in fact, acquire eight of the closing units and convert them to the Harris Teeter banner.
- KC's View:
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No big deal here, I think (though the hundreds of folks who may lose their jobs with disagree). I think that we’d all agree that many markets are oversaturated, and I’d argue that it makes sense to constantly be evaluating how banners are operating and making changes that will best serve customers and the company. That’s what this looks like.
