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☆ Instacart's biggest IPO twist: Tech trying to go public as a value stock
▼ + stars: | 2023-09-18 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

At the top of the latest IPO price range, the enterprise value would be 16x EBITDA. The right valuation for Instacart depends on where the ultimate rate of sales growth falls, Einhorn said. Including the cash on the company's balance sheet, that values Instacart at about three times EBITDA – way below DoorDash's valuation. Even that would value the company at only seven times 2025 EBITDA, and about 14 times EBITDA from the last four quarters, still a sharp discount to DoorDash. So in a twist few would have predicted in 2020 or 2021, Instacart is trying to go public as a value stock, carefully managed to wring the best results from potentially modest growth.

Persons: Instacart, –, Einhorn, Matt Einhorn, Mark Mahaney, DoorDash, Nicholas Cauley, Cauley, Covid, Nick Giovanni, Giovanni, EBITDA Organizations: Renaissance Capital, San Francisco, ISI, Walmart, Kroger, Aldi, Omicron, Gross Locations: DoorDash, EBITDA, York

☆ Stocks making the biggest moves midday: Marathon Petroleum, Tesla, Moderna and more
▼ + stars: | 2023-09-18 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Moderna — The pharmaceutical company lost more than 8% Monday, making it the biggest decliner in the S&P 500. Enphase Energy — Shares lost 2.6% after Citi lowered its price target on shares to $170 from $209 while keeping its buy rating. The new price target implies 41% upside from Friday's close. Analyst Chris Quintero highlighted the growth opportunity for the company following a strong investment cycle. The investment bank bumped up the stock's price target to $40 from $37, citing Simply Good Foods' diverse product offering and shifting consumer preferences to healthier choices as catalysts.

Persons: Bernstein, Needham, Noubar Afeyan, Moderna's, Goldman Sachs, Mark Delaney, PayP, Ralph Lauren —, Ralph Lauren's, TD Cowen, Cowen, Tenable, Morgan Stanley, Chris Quintero, Raymond James, ASGN, Wells Fargo, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: — Petroleum refiners Valero Energy, Marathon Petroleum, West Texas Intermediate, Brent, Energy, Arm, Nasdaq, Securities and Exchange Commission, Pharmaceutical, Pfizer, U.S, Tesla, PayPal, MoffetNathanson, Guggenheim, Enphase Energy, Citi, Tenable Holdings, Mizuho, Aldi, Lowe's, Micron Technology, Deutsche Bank, Paramount, Disney, Warner Bros Discovery, Iridium Communications, Iridium Locations: Valero Houston, Houston , Texas, U.S

☆ Price-conscious Britons boost Lidl GB revenues by 19%
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] People queue outside Lidl supermarket in Streatham, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 29, 2020. Lidl GB and rival discounter Aldi UK are Britain's fastest growing grocers, according to market researcher Kantar. For the 12 months to Feb. 28, 2023, Lidl GB said it welcomed an additional 1.5 million customers, driving revenues up to 9.3 billion pounds, but the company, part of Germany's Schwarz retail group, posted a pre-tax loss of 76 million pounds ($94.97 million). Lidl GB, Britain's sixth largest supermarket with a market share of 7.6%, has in the past said it is relaxed about its relatively low profitability because of its long-term outlook. It said in a statement it had the full support of its parent company, adding it has invested 533 million pounds in Britain in the year and opened over 50 new stores.

Persons: Hannah McKay, discounter, Kantar, Germany's Schwarz, Sarah Young, James Davey, Elizabeth Piper Organizations: REUTERS, discounter Aldi, Tesco, Lidl, Thomson Locations: Streatham, London, Britain, British, Germany's

☆ UK grocery inflation cools to lowest level in a year -Kantar
▼ + stars: | 2023-09-12 | by ( James Davey | ) www.reuters.com time to read: +2 min

Market researcher Kantar said annual grocery inflation was 12.2% in the four weeks to Sept. 3, down from 12.7% in its August report. The Kantar data going into September provides the most up-to-date snapshot of UK grocery inflation. Official data published last month showed overall inflation in July was 6.8%, with food inflation at 14.9%. Kantar said UK grocery sales rose 7.4% over the four-week period on a value basis. UK supermarkets' market share and sales growth (%)Source: KantarReporting by James Davey; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kantar, Fraser McKevitt, James Davey, Leslie Adler Organizations: Conservative, Bank of England, Waitrose, Aldi, Lidl, Thomson

☆ Waitrose cuts more prices as Britain's food inflation picture improves
▼ + stars: | 2023-09-10 | by ( James Davey | ) www.reuters.com time to read: +2 min

UK food price inflation reached its highest since 1977 in March at over 19%. This official measure slowed to 14.9% in July and, while industry data showed it at 11.5% in August, rising food prices remain a major strain on the finances of many households. Monthly industry data has consistently shown Waitrose losing market share and underperforming rivals including industry leader Tesco (TSCO.L) and No. Earlier this month researcher Kantar said Waitrose had a UK grocery market share of 4.4%, down 0.2 percentage points year-on-year. While all British supermarkets have reduced the prices of some products in recent months, researcher the Institute of Grocery Distribution has said that UK food price inflation will still be around 9% in December.

Persons: Peter Cziborra, Kantar, Waitrose, James Davey, Emelia Sithole Organizations: Waitrose, REUTERS, Bank of England, John Lewis Partnership, Tesco, Aldi, Lidl, of Grocery, Retailers, Thomson Locations: Harpenden, Britain, India

☆ Slowing inflation is dragging on Kroger sales, even as consumers still feel a pinch
▼ + stars: | 2023-09-08 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

But it has created risk that customers could turn to retailers known for lower food prices, such as Walmart, Aldi or Dollar General . Kroger reaffirmed its full-year guidance, saying it expects identical sales excluding fuel to range between 1% and 2%. In an earnings release, he said the grocer expects inflation to "continue to decelerate" and expects a tougher backdrop for consumers in the months ahead. Kroger CEO Rodney McMullen said on an earnings call that slowing inflation could lift sales in another way. He said Kroger has stepped up security and added new tech to try to fight crime, but said Kroger expects the theft trends "will continue to be a challenge for the remainder of the year."

Persons: Kroger, Fred Meyer, Ralphs, King Soopers, Gary Millerchip, Rodney McMullen, McMullen, Millerchip Organizations: Kroger, LSEG, Target, Walmart, Aldi, Express, U.S . Bureau of Labor Statistics, Albertsons, S Wholesale Grocers, Grand Union Locations: U.S, Florida, Washington ,

☆ Kroger and Albertsons sell 400 stores to Piggly Wiggly’s parent company
▼ + stars: | 2023-09-08 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Kroger and Albertsons are selling roughly 400 stores to Piggly Wiggly’s parent company in an attempt to win antitrust approval for the mega merger between the grocery stores. C&S, a privately held company, operates 500 grocery stores under the Piggly Wiggly and Grand Union banners and is also a major grocery wholesaler. On Friday, Kroger reported $33.85 billion in revenue for the second quarter, slightly under analyst estimates of $34.63 billion. Company executives said part of the quarterly loss related to economic headwinds, organized retail theft and opioid settlement payments. The largest to date is a $26 billion settlement involving several companies that began paying out last year and continues for 18 years.

Persons: New York CNN —, ” Kroger, ”, Mark McGowan, Kroger Organizations: New, New York CNN, New York CNN — Kroger, Albertsons, S Wholesale Grocers, Union, Walmart, Costco, Aldi, ., Kroger Locations: New York, Arizona , California, Colorado, Wyoming, Amazon, Aldi, Dixie, ” State

All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate. Kroger, based in Cincinnati, Ohio, bid $20 billion for Albertsons. C&S, which was founded in 1918, is a supplier to independent grocery stores, supplying more than 7,500 independent supermarkets, retail chain stores and military bases. It currently runs Grand Union grocery stores and Piggly Wiggly franchise and corporate-owned stores in the Midwest and Carolinas. Shares of Kroger Co., based in Ohio, rose 5% Thursday and Albertsons Cos., based in Idaho, rose 3%.

Persons: Debi Lilly Design, Primo Taglio, Kroger, ” Kroger, Rodney McMullen Organizations: Kroger, Albertsons, S Wholesale Grocers, Waterfront Bistro, Walmart, Amazon, Aldi, Winn, Dixie, Federal Trade Commission, Union, Kroger Co, Albertsons Cos Locations: Cincinnati , Ohio, Midwest, Carolinas, Ohio, Idaho

☆ We met dumpster diving 14 years ago and now make up to $3,000 a month selling our trash treasures
▼ + stars: | 2023-09-06 | by ( Grace Mayer | ) www.businessinsider.com time to read: +8 min

They now make up to $3,000 per month from dumpster diving, and post their dives on TikTok. AdvertisementAdvertisementWe make between $2,000 and $3,000 a month selling our dumpster dive trash treasures. But it's still rare that we see somebody else dumpster diving at the spots we go to in Buffalo. When some people hear the term "dumpster diving," they sometimes picture a rat-infested dumpster covered in food, or that we're digging through household trash. We view our dumpster diving efforts, particularly selling scrap metal to scrap yards, as "carbon credits" that offset the carbon emissions from our next plane flights.

Persons: David, Erin Sheffield, David Sheffield, we're, It's, We've, Joe's, Erin, we've, — Organizations: Service, University at Buffalo, Walmart, Foods, Aldi, Body Works, Dick's Sporting Goods, Erin Sheffield Garage, eBay, Facebook, Body Locations: Wall, Silicon, Buffalo , New York, France, dumpsters, Norway, Mexico, TikTok, Buffalo

☆ Instacart’s mixed bag has valuation opportunities
▼ + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.

Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava

☆ Instacart just filed for its IPO and revealed a plan to sell $175 million in stock to PepsiCo
▼ + stars: | 2023-08-25 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +2 min

The company outlined its business as well as a plan to sell $175 million in shares to PepsiCo. The grocery delivery service filed a prospectus, a detailed document that outlines Instacart's business and IPO ambitions, on Friday afternoon. Instacart will also sell $175 million in Series A preferred stock to beverage giant PepsiCo as part of a private placement, according to the document. Instacart said its average order value was $110 in 2022In total, Instacart works with 80,000 stores. As of June 30, 2023, it has 5.1 million Instacart + members.

Persons: Instacart Organizations: SEC, PepsiCo, Service, NASDAQ Global, Publix, Costco, Aldi, CVS, Walgreens, Walmart, DoorDash Locations: Wall, Silicon

☆ Aldi is getting bigger. Here's why the no-frills German grocer is looking to the Southern U.S. for growth
▼ + stars: | 2023-08-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

No-frills discounter Aldi is the latest grocer to shake up the industry with big moves. It's also had to race to keep up with competitors' online options, prompting Aldi to expand curbside pickup to more stores. But the deal has big implications for publicly traded competitors including Walmart and Kroger, as well as regional grocers. CNBC spoke to Jason Hart, the CEO of Aldi U.S., about why the company is doing the deal and how it sees Aldi fitting into a fast-changing grocery landscape. Why was Aldi interested in acquiring Winn-Dixie and Harveys Supermarket?

Persons: Kroger, Joe's, It's, Jason Hart, we've Organizations: Winn, Dixie, Southern, Aldi, Albertsons, Companies, Amazon, Walmart, Kroger, CNBC Locations: Southern U.S, Florida , Alabama, Georgia, Louisiana, Mississippi, Germany, Winn

☆ Starbucks' $1.25 cold foam is the chain's most popular drinks add-on, and one of its most expensive. This is how it's made.
▼ + stars: | 2023-08-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

It's made by frothing nonfat cold milk and is added to iced drinks like cold brews. While some drinks come with cold foam on top as standard, such as some of its flavored cold brews, customers can opt to add it to other cold drinks for $1.25. Currently there are six flavors of cold foam available – chocolate cream, cinnamon sweet cream, matcha cream, salted caramel cream, vanilla sweet cream, and white chocolate macadamia cream. Tim Hortons in the US, for example, sells set chilled drinks with cold foam and also has the option for customers to add it to some of its other cold drinks. Dunkin' started selling sweet cold foam in February 2021, and has since launched it in a number of time-limited flavors including brown sugar and salted caramel.

Persons: It's, Tim Hortons, Dunkin, Olivia Vaughn, Heinz Kraft Organizations: Service, New York Times, Starbucks, Maxwell, Aldi Locations: Wall, Silicon, Seattle

☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

☆ Aldi to Buy 400 Winn-Dixie and Harveys Supermarket Stores
▼ + stars: | 2023-08-17 | by ( Amanda Holpuch | More About Amanda Holpuch | ) www.nytimes.com time to read: 1 min

The German supermarket chain Aldi is acquiring hundreds of Winn-Dixie and Harveys Supermarket stores in the southeastern United States, the company announced on Wednesday. Aldi said the deal included about 400 grocery stores in Alabama, Florida, Georgia, Louisiana and Mississippi. Some of the locations will be converted into Aldi stores, while the others will remain operating under their current brands. Aldi, a discount retailer, opened its first stores in the United States in 1976. The chief executive of Aldi USA, Jason Hart, said in a statement that the company hoped to keep growing in the United States and that it aimed to add 120 new stores in the country this year.

Persons: Aldi, Jason Hart Organizations: Aldi, Dixie, Harveys, Aldi USA Locations: Winn, United States, Alabama , Florida, Georgia, Louisiana, Mississippi

☆ Aldi is buying 400 grocery stores in Florida and the southeast as it continues its rapid US expansion
▼ + stars: | 2023-08-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Aldi is buying 397 supermarkets across Alabama, Florida, Georgia, Louisiana, and Mississippi. Some will stay as Winn-Dixie and Harveys Supermarket stores while others will be converted to Aldis. The German discount retailer said on Wednesday that it was buying all of Winn-Dixie and Harveys Supermarket's locations from parent company Southeastern Grocers for an undisclosed price. Some of the stores will be converted to Aldis, while others will continue to operate as Winn-Dixie and Harveys Supermarket stores, Aldi CEO Jason Hart said in a statement. Aldi said that its purchase of Winn-Dixie and Harveys Supermarket was expected to close in the first half of 2024.

Persons: Jason Hart, Kroger, Fresco Organizations: Aldi, Dixie, Harveys, Service, Southeastern Grocers, Winn, Walmart, CNN, Fresco Retail Locations: Alabama , Florida, Georgia, Louisiana, Mississippi, Winn, Wall, Silicon, Florida, Alabama

☆ Aldi to Acquire Winn-Dixie, Harveys Supermarket
▼ + stars: | 2023-08-16 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/aldi-to-acquire-winn-dixie-harveys-supermarket-919a672c

Persons: Dow Jones Organizations: winn, dixie

☆ Aldi to acquire Winn-Dixie and Harveys Supermarket stores in Southern expansion
▼ + stars: | 2023-08-16 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Supermarket chain Aldi plans to acquire hundreds of Winn-Dixie and Harveys Supermarket locations across the Southern U.S. in a deal that will expand the fast-growing grocer's presence across the region. Germany-based Aldi said in a news release Wednesday that it will take over operations of all Winn-Dixie and Harveys Supermarket locations — about 400 stores — in Florida, Alabama, Georgia, Louisiana and Mississippi. Some locations will be converted to Aldi stores after the acquisition, while others will continue operating as Winn-Dixie and Harveys Supermarket grocery stores, according to the release. Nationwide, the company plans to add 120 new stores to reach a total of more than 2,400 stores by year-end. The sale of the Winn-Dixie and Harveys Supermarket locations is a part of a larger divestiture by Southeastern Grocers, the chains' parent company.

Persons: Aldi, Jason Hart, Winn, Anthony Hucker Organizations: Dixie, Southern, Winn, Aldi, Harveys Supermarket, Nationwide, Southeastern Grocers, ALDI Locations: Winn, Southern U.S, Germany, Florida , Alabama, Georgia, Louisiana, Mississippi, United States, Florida

☆ Aldi is buying 400 Winn-Dixie and Harveys supermarkets
▼ + stars: | 2023-08-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —Grocery shoppers in the Southeast can expect to see more Aldi stores starting 2024. Some of the nearly 400 Winn-Dixie locations Aldi is acquiring will keep the familiar red-and-white Winn-Dixie branding and traditional store layout, but many will convert to Aldi’s brand and bare-bones store format. The acquisition – which includes Harveys Supermarket – will add locations across Alabama, Florida, Georgia, Louisiana and Mississippi to Aldi’s portfolio. Winn-Dixie and Harveys Supermarket had long been staples in the Southeast region. Aldi has not disclosed how many of the Winn-Dixie and Harveys stores it plans on converting, or how much the deal cost.

Persons: Winn, Jason Hart, Aldi, Dixie, Neil Saunders, ” Saunders, ” Hart, Kroger, it’s, Phil Lempert, Lampert, “ that’s, ” Lempert, “, ” Lampert, Saunders Organizations: New, New York CNN, Aldi, Winn, Dixie, Harveys, Southeastern Grocers, Fresco Retail, Albertsons, Publix, Sunshine State Locations: New York, Alabama , Florida, Georgia, Louisiana, Mississippi, Florida, United States, Southeast, “, Aldi, Winn, Sunshine

☆ A German grocery store charged customers the 'true price' of their food, and one cheese was almost twice as expensive
▼ + stars: | 2023-08-11 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

German supermarket Penny raised prices on meats and cheeses to reflect their "true cost" last week. By contrast, one brand of vegan schnitzel only rose 5%, suggesting some vegan products have minimal long-term environmental and health costs. Despite Germany's recent drop in inflation, food prices still remain 11% higher this month compared to 12 months ago. The company temporarily hiked some prices to comment on how food prices are not fully indicative of broader long-term environmental and health costs. "We know that many of our customers are suffering from today's unrelentingly high food prices," Stefan Görgens, the COO at Penny, said in a statement.

Persons: Penny, Mühlenhof wiener, Stefan Görgens Organizations: Service, US Department of Agriculture, Nuremberg Institute of Technology, University of Greifswald, Aldi Locations: Wall, Silicon, Germany

☆ New DoorDash customers are turning to the app for grocery deliveries and flowers, not just restaurant meals
▼ + stars: | 2023-08-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

DoorDash is seeing a surge in non-restaurant orders from new customers, including grocery and flower deliveries. The delivery company has 100,000 retail stores on its app, surpassing Instacart's 80,000 merchants. The company said more new customers are turning to the app for non-restaurant orders as DoorDash has grown its retail selection to more than 100,000 stores. In July, online grocery sales dropped 7% to $7.2 billion compared to July 2022 , according to the latest monthly Brick Meets Click/Mercatus Grocery Shopping Survey. Driving the downturn was delivery sales, which decreased 13.3% to $2.6 billion , according to the July survey released August 9.

Persons: Tony Xu, DoorDash, Xu, Grubhub, Uber, It's, Petco, Staples, Brittain Ladd, Instacart, confidentially Organizations: Service, Albertsons, Aldi, Target, Walgreens, Dollar Locations: Wall, Silicon, Stanford, PetSmart, North America

☆ Instacart shoppers say the highest-earning orders are getting more extreme, with demands like 72-mile drives
▼ + stars: | 2023-08-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Shoppers say the highest-earning orders on the app are increasingly not worth the pay. "After an hour-and-a-half drive, that ice cream would've been milk," the shopper told Insider. Instacart told Insider on Monday that shoppers have control over which batches they choose to shop, and that it pays according to the complexity of each order. In the past, high-paying orders have been one way for Instacart shoppers to maximize their earnings. Are you an Instacart shopper with a story idea to share?

Persons: —, Instacart, Daniel Danker Organizations: Shoppers, Service, Costco, Food Lion, Kroger, IRS Locations: Wall, Silicon, Virginia, Georgia, St, Louis , Missouri, Illinois, Iowa, Utah

☆ Fact Check-Article on Aldi horsemeat scandal is about a decade-old incident
▼ + stars: | 2023-07-26 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An article reporting as if new a decade-old supermarket scandal involving horse meat and German-owned discounter Aldi is confusing people online. “Aldi was guily (sic) ten years ago of selling horse meat in place of their advertised beef. A spokesperson for the supermarket group told Reuters that the social media posts and Newsbreak article were likely based on the 2013 incident. Search engine results produced no other news articles about a 2023 horse meat scandal involving Aldi (archive.md/m2m7X). Aldi has not confirmed that its products are subject to a new horse meat scandal.

Persons: Aldi, ”, Newsbreak, Read Organizations: Aldi, Facebook, Reuters Locations: U.S

☆ Supermarkets Are Losing This Food Fight
▼ + stars: | 2023-07-21 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/supermarkets-competition-costco-walmart-aldi-4f3c0d0c

Persons: Dow Jones Organizations: costco, walmart, aldi

☆ Lidl closes 11 stores as it struggles in the US. See the full list.
▼ + stars: | 2023-07-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

German grocer Lidl opened its first US stores in 2017. It closed 11 underperforming stores this week, according to various news reports. Lidl, whose US headquarters are in Virginia, closed 11 stores recently in North Carolina, Virginia, New Jersey, South Carolina, Maryland, and Pennsylvania, the Daily Mail first reported. Lidl has roughly 170 stores in the US and over 12,000 stores worldwide. According to Grocery Business, here are the locations of the 11 recently closed Lidl locations.

Persons: Lidl, Chandler Spivey, Spivey, Sebastian Rennack, Rennack, Cary, Randolph St, King of Prussia, Florence Virginia, Richmond Organizations: Service, Aldi, Daily Mail, D.C, Grocery, Grocery Business, Brooklyn Park, King of Prussia South Locations: Virginia, Wall, Silicon, North Carolina , Virginia , New Jersey, South Carolina , Maryland, Pennsylvania, East, North Carolina, Washington, Lorton , Virginia, Germany, Europe, American, Maryland, Oxon, Brooklyn, Brooklyn Park New Jersey, Howell, Holly, Burlington Township North Carolina, Thomasville Pennsylvania, Dekalb Pike, King of Prussia South Carolina, North Augusta, Palmetto St, Charlottesville, Broad St

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