Albertsons Closes Eight Stores in Florida, Including One in Sarasota County

Strategic Insights -

In a significant move after a multi-billion dollar buyout, Albertsons LLC is closing eight of its 104 Florida stores, including one on Central Sarasota Parkway. The decision is part of the company's attempts to restructure and prioritize its locations. The eight stores identified for closure have been deemed unprofitable despite efforts to revamp them. Albertsons' spokesperson Shane McEntarffer acknowledged the difficulty of closing stores, but emphasized the company's commitment to supporting affected employees by relocating them to other open locations.

Key Takeaways:

  • Albertsons LLC is closing eight of its 104 Florida stores, including one on Central Sarasota Parkway, as part of a restructuring effort.
  • The eight stores scheduled for closure have been identified as unprofitable and have not met the company's expectations despite attempts to revamp them.
  • The stores slated for closure make up 8 percent of Albertsons' stores in Florida but only 4.8 percent of sales.
  • Albertsons will attempt to place the 100 affected employees at other open locations.
  • The Central Sarasota Parkway store's employees were informed of the closure decision on Tuesday morning.
  • The company's 7 other stores in the Sarasota and Manatee counties will continue to operate.
  • Sweetbay Supermarket, a company rebranding from Kash n' Karry, has expressed interest in scouting for new locations but is not aware of any plans to take over the closing Albertsons store.
  • Albertsons' market share in the Sarasota-Bradenton market was 10.5 percent, according to data released by Market Scope.

Statistics:

  • 8 stores in Florida will be closed, including one in Sarasota County.
  • 104 stores in Florida, plus stores in 10 other states, are part of the Albertsons chain owned by the Cerberus Capital Management-led group.
  • 8 percent of Florida stores will be closing, but only 4.8 percent of sales will be lost.
  • 100 employees will be affected by the store closures.
  • Market share in the Sarasota-Bradenton market: 10.5 percent.
  • Sales performance of the 8 stores slated for closure: 4.8 percent.

Sources:

  • Willard Bishop Consulting
  • TradeDimensions International, Inc.
  • Market Scope
  • Albertsons LLC
  • Sarasota Herald-Tribune