The Fresh Market Closing 15 Stores
The Fresh Market Inc. has revealed plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin.
According to the Greensboro, N.C.-based grocer, “This decision was made following the completion of an organizational analysis and careful consideration of the overall growth strategy and long-term financial performance of the company. We do not expect any further store closures in the foreseeable future.”
The fresh-focused retailer has been working over the past few years to “reimagine” its shopping experience through such means as the addition of more convenience and health-and-wellness items, as well as price cuts.
“Over the last eight months, our company has been executing a turnaround plan, and we’ve seen great progress,” noted The Fresh Market CEO Larry Appel, who took the helm of the company last year. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores. We will work to relocate as many impacted employees as possible to other stores within our footprint.”
Added Appel: “Looking ahead, I am confident this move will better position The Fresh Market and enable us to continue delivering our great-tasting meals, signature products and an incredible shopping experience.”
The store locations are in Snellville and North Druid Hills, Ga.; Peoria, Normal, Glen Ellyn and Lincolnshire, Ill.; Fishers, Ind.; Louisville, Ky.; North Charlotte, N.C.; Bedford, N.H.; Hendersonville, Tenn.; Winchester and Charlottesville, Va.; and Brookfield and Fox Point, Wis.
In response to a request regarding the timing of location closures, a company spokeswoman told Progressive Grocer, "The stores should be closed within two to four weeks."
In 2016, the grocer closed 13 stores, in the process exiting four states: Texas, Iowa, Missouri and Kansas.
The Fresh Market currently operates 170-plus stores in 24 states. It holds the No. 41 spot on Progressive Grocer's Super 50 list of the top grocers in the United States.