Save-A-Lot plans new distribution center
St. Louis — Save-A-Lot announced plans for a new 250,374-sq.-ft. food distribution center in Pompano Beach, Fla.
The center located is expected to open by the end of fiscal year 2013 (FY13 ends February 23, 2013) and employ more than 30 employees initially, with the potential for hiring additional employees once the facility is at full capacity. The project is the result of collaboration with KTR Capital Partners and Butters Construction.
Supervalu to cut up to 2,500 jobs in Albertsons stores
New York — Supervalu plans to cut as many as 2,500 positions at its Albertsons unit. The reductions, which will occur across all 247 Albertsons stores in California and Nevada, will begin the week of June 17 and should be completed around July 1, according to a statement.
“A decision of this nature is never easy, but it is the necessary step for us to take to help improve our business and accelerate our turnaround," Dan Sanders, president of the Albertsons Southern California Division, said in a statement.
Not if, but when Denver gets CityTarget
News reports this week speculated Denver might be getting a new CityTarget store. Get used to seeing similar speculation in other major markets as the company seeks to tap a new growth frontier.
The Denver post this week reported that Target was eyeing downtown Denver locations for a new CityTarget store and cited three unnamed sources who said negotiations were under way. The one person who was quoted by the newspaper, Jim Kirchheimer, SVP the Downtown Denver Partnership, offered this convoluted assessment of discussions that may or may not be taking place: “I certainly can’t comment specifically on the conversations that may be taking place, but we’ve been talking, and the interest is mutual. We’d love to have a retailer of the caliber of Target in downtown Denver.”
Expect to see quotes of that nature with the name of different cities substituted for Denver a lot in the coming years. CityTarget’s will eventually arrive in every major market in the U.S. The company is hosting its annual meeting next week in a soon-to-open CityTarget in downtown Chicago and would hardly be calling attention to the format in such a high profile way if meaningful expansion weren’t a foregone conclusion.
Locations in Los Angeles, San Francisco, Seattle and Portland have already been identified so probably not a stretch to imagine virtually any major U.S. urban area popping up as a possible location.
As for Denver, The Post said a Target spokeswoman had no specific information about a new CityTarget store. Of course she didn’t. Retailers never confirm store locations until the ink is dry on the lease, even if everyone in town knows the store is coming. Commercial real estate folks have a tendency to leak information, especially concerning high value tenants such as Target whose presence can make properties more attractive.