Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!
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Re: Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!
Bob Piccinini would be rolling in his grave if he saw how mismanged save mart is under kingswood. any merger with kroger is out the window at this point. i suspect a lot more of the underperforming stores will be heading to the chopping block really soon and who knows where they go from there.
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Re: Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!
Save Mart was run horribly from 2009-2016 or so until they started doing the store remodels. I think they were about the worst chain in the US for quite a few years. Worst store condition, worst merchandising, worst pricing, worst quality. Service was mostly good... so I guess there was that. I saw a lot of improvements in the year or so before they sold to Kingswood. The previous CEO or whatever his title was from A&P (he isn't there anymore) did a surprisingly good job.reymann wrote: ↑October 30th, 2023, 9:08 am Bob Piccinini would be rolling in his grave if he saw how mismanged save mart is under kingswood. any merger with kroger is out the window at this point. i suspect a lot more of the underperforming stores will be heading to the chopping block really soon and who knows where they go from there.
So I still consider this Kingswood version of Save Mart to be run far better than the 2009-2016 version of Save Mart.
I think when they did the sale-leasebacks on the various owned store buildings (this was before Kingswood) they did 10 year leases.
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Re: Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!
Millbrae Lucky closed this week too............
At least that one wasn't remodeled. It was never a very busy store despite being in what should have been a good location.
I think Lunardi's just ran a much better similar sized store nearby and Safeway had a newer nicer store nearby.
At least that one wasn't remodeled. It was never a very busy store despite being in what should have been a good location.
I think Lunardi's just ran a much better similar sized store nearby and Safeway had a newer nicer store nearby.
Re: Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!
Unfortunately last month Save Mart laid off about 30 corporate employees in Modesto. Save Mart is not looking strong these days. I imagine Kingswood Capital is looking to unload Save Mart.