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Food Emporium, Grocery Chain "Someone Made Just For Me," Put Up For Sale
By
Jen Chung
Published Sep 11, 2012
Modified Sep 11, 2012
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By
Jen Chung
Published Sep 11, 2012
Modified Sep 11, 2012
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Food Emporium, the supermarket chain with an incredibly infectious jingle, is being put up for sale by parent company A&P. The company said, "We commenced a marketing process of The Food Emporium in early September. The Food Emporium represents a unique urban footprint that requires a specific go-to-market strategy. Therefore, we've made the decision to market these 16 Manhattan stores to a variety of prospective buyers. The sale will enable parent company A&P to support the company's long-term strategic vision to be the No. 1 food and drug store in every neighborhood it serves." But the Lincoln Square and Union Square locations are so perfect for buying snacks pre-movies!
Crain's NY reports that a spokesperson confirmed that "stores, its leases and the brand are for sale." There are 16 Food Emporium locations in NYC (there's one in New Canaan, CT, but it's not for sale), and a supermarket consultant told Crain's, "The stores are not well managed. Customer counts have dropped dramatically over the last 10 years. CVS, for one, is walking all over Food Emporium, offering items such as yogurt, eggs, milk, soup, cereal, condiments at much lower prices."
Another consultant tells Crain's that the enormous Food Emporium under the 59th Street/Ed Koch Bridge is "very unprofitable store for A&P, so I'm sure the company would be happy to unload it." Apparently Trader Joe's is interested—57th Street Whole Foods, take note!
Tagged
A&P
food emporium
grocery store
real estate
supermarket
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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