Lucky Store Closures- Save Mart- 2023- 4 closures so far in 2023!

[reymann]

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.

[storewanderer]

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.

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.

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.

[storewanderer]

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.

[T_Rajjj]

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.