
California budget chain Grocery Outlet closing multiple stores
A slew of closures have left grocery shoppers in California with fewer affordable options.
Grocery Outlet — a major discount retailer — first announced plans to shut down 36 “financially underperforming stores” locations back in March. The shutters would take place all across the country as part of the company’s “optimization plan.”
The scheme would “improve operational execution, strengthen long-term profitability and increase cash flow generation,” according to a company earnings call.