The Fresh Market Inc. plans to close 15 under-performing stores, including its locations in Brookfield and Fox Point, the company announced late Monday.
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Fox Point Fresh Market[/caption]
The Greensboro, North Carolina-based grocer said the decision was made following the completion of an organizational analysis and “careful consideration of the overall growth strategy of the company.”
“We do not expect any further store closures in the foreseeable future,” Fresh Market announced in a written statement.
A total of 102 employees, 50 at the Brookfield location and 52 at the Fox Point location will lose their jobs, according to a notice filed with the state.
Fresh Market' Brookfield location is at 15895 W. Bluemound Road. In Fox Point, the store is located at The River Point Village Shopping Center at 8750 N. Port Washington Road.
Other store closures are planned in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee and Virginia.
“Over the last eight months, our company has been executing a turnaround plan, and we’ve seen great progress,” The Fresh Market CEO Larry Appel said in a written statement. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores.”
In 2016, Fresh Market closed 13 stores. The grocery currently operates more than 170 stores in 24 states.
Across the country, brick-and-mortar retail has taken a hit as shoppers have changed their buying habits and grocery stores have not been immune. Supermarket profit margins are thin and grocery store owners have responded by pulling out of underperforming locations.
Sendik’s closed its grocery
store in West Milwaukee on April 22, less than two years after opening it. Discount grocer Aldi will lease
a portion of that store.
In October 2017, Sendik’s closed its Brookfield location
at 13950 W. North Ave., saying the company would focus its attention on other growth opportunities.
From May through July 2017, six Pick ’n Save stores closed due to low sales, affecting 448 employees, and in March 2018, the Cudahy store was closed; it employed 75 people.
At the same time, Pick ’n Save parent The Kroger Co. has been investing in its high-performing stores across the Milwaukee market.