Safeway sells 16 Genuardi’s stores to Giant Food Stores
Pleasanton, Calif. — Safeway Inc. is exiting the Philadelphia market. The company announced it has reached a definitive agreement to sell 16 of its Genuardi’s stores in the greater Philadelphia area to Giant Food Stores, LLC, a division of Ahold USA.
The deal is valued at $106 million.
In addition, Safeway plans to close three Genuardi’s stores and sell the remaining eight Genuardi’s stores, which it will continue to operate while it is working with potential buyers.
"We have made the decision to exit the greater Philadelphia market, including four stores in New Jersey , and focus our resources in those operating areas where we have a stronger presence," said Steve Neibergall, president of Safeway’s Eastern Division. "We will be working with the purchasers to ease the transition for our store employees and making efforts to facilitate continued employment for as many of them as possible."
Giant Food Stores, a division of Royal Ahold NV, has agreed to acquire 16 Genuardi’s stores from Safeway Inc. for $106 million to expand in the greater Philadelphia area.
The outlets will be converted into Giant Food Stores after completion of the transaction, which is expected to take place in the first half of 2012, Ahold said in a statement.
Walgreens and Rite Aid report rise in December same-store sales
New York City — Walgreen Co. said Thursday that its same-store sales increased 0.4 percent in December, beating analysts’ estimates for a decline of 0.1%.
Front-end sales were up 0.6%. Same-store pharmacy sales, which make up nearly 60% of total sales, rose 0.2%. Walgreen said those sales were hurt by more launches of generic drugs, as well as a milder season for coughs, colds and the flu.
Rite Aid Corp. said Thursday its December same-store sales rose 3.6%, boosted by higher pharmacy sales.
For the five weeks ended Dec. 31, same-store pharmacy increased 5.2% and front-end sales edged up 0.7%.
Sales increase 11.3% in December at Pier I Imports
Fort Worth, Texas — Pier 1 Imports Inc. said Thursday its same-store sales climbed 11.3% in December, driven by a greater number of shoppers who spent more on each visit. The gain topped the 10.3% rise in the same month a year ago.
The chain said sales remained strong throughout the month, including the week after Christmas, in every region.