Supervalu sells Bristol Farms
Minneapolis Supervalu has sold its Bristol Farms supermarket chain to that division’s management team in partnership with investment firm Endeavour Capital.
The company did not disclose the value of the deal, which includes 14 stores, one in San Francisco and the rest across Southern California.
The stores will change ownership Friday but will continue to operate under the Bristol Farms name with their existing management and workers.
Supervalu said the move will ultimately allow the company operate more efficiently and effectively and focus on improving its remaining base of stores.
Endeavour Capital is a private investment firm with a focus on food manufacturing, distribution and grocery retail.
Macy’s launches grab-and-go gift shops
NEW YORK – Macy’s announced the creation of grab-and-go "gift shops" in 400 stores and on macys.com.
According to the company, the new main floor "gift shops" will offer a one-stop gifting destination featuring limited-edition gifts exclusive to Macy’s, including the latest techie gadgets, stylish apparel and accessories for you and your pets, hot beauty finds and chic home goods.
"This holiday season we’ve acknowledged our customers’ need for grab-and-go shopping and taken the idea of gift giving to the next level with branded shops featuring trendy and affordable product in a range of categories and pre-packaged gifts," said Martine Reardon, executive vice president of Marketing for Macy’s. "In addition to the great fashion and accessories that customers shop us for each holiday season, this year Macy’s star-studded list of designers, international gifts and hot products for holiday will offer our customers clever and unique ideas for their holiday gift lists."
Survey: Consumers spending more for holiday, but still cautious
NEW YORK – Deloitte reported that six out of 10 (62%) of its holiday survey respondents plan to spend more or the same on the holidays, a 11 percentage point rise from Deloitte’s 2009 holiday survey and the highest level since 2006.
Thirty-nine percent of those surveyed expect the economy to improve next year, down from more than half (54%) who anticipated an improvement at this time last year.
Feelings about the economy have lead consumers to be more cautious about spending, Deloitte reported. Nearly three-quarters (73%) plan to change the way they shop this holiday season in an effort to save money. Almost half (46%) of those surveyed intend to purchase more gifts with cash than they have in the past, and 36% say they have permanently cut back the amount of money they spend.
Consumers’ total anticipated holiday spend this year rose slightly to $1,160 from $1,145 in 2009 on gift and non-gift categories that include socializing away from home, entertaining, non-gift clothing, and home/holiday furnishings, Deloitte reported.
Once again, gift cards will be a popular gift item, however the total number of cards that consumers plan to buy slipped to five, from 5.4 in 2009.