Sobeys closing 50 stores across Canada

[Peachykeen2007]

This was on tv - I wonder how many in the end will close

http://www.cbc.ca/news/business/sobe...nada-1.2688366

Here are some of the stores already listed to close

Atlantic Canada

Amherst, N.S., Foodland
Tracadie N.B., Foodland
Perth-Andover N.B., Foodland
Edmundston N.B., Foodland
Nashwaaksis N.B., Foodland
St. Stephen, N.B., Sobeys

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Quebec

Unknown … more to come.

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Ontario

Toronto
Front and Sherbourne, Sobeys
Bathurst and Bloor, Sobeys
Other locations
Ajax, Sobeys
Mississauga, Sobeys
Windsor, Sobeys
Dryden, IGA

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Manitoba

Winnipeg
Ness Avenue, Safeway
Garden City Mall, Safeway
Jefferson Avenue, Safeway
Other locations
Brandon, Safeway
Steinbach, Safeway
READ MORE: Sobeys closing stores in Manitoba, 300 jobs affected union says

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Saskatchewan

Unknown … more to come.

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Alberta

Calgary
Deer Point, Sobeys
Fairmount, Sobeys
Douglas Square, Sobeys
London Town, Sobeys
Glenmore Square, Safeway
READ MORE: Sobeys closing 5 stores in Calgary
Edmonton
Jasper Avenue, Sobeys
111 Street/23 Avenue, Sobeys
66 Street/28 Avenue, Sobeys
Stoney Plain Rd., IGA

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British Columbia

Fort St. John, Sobeys






Grocery store chain Sobeys Inc. will close about 50 underperforming stores across Canada following its $5.8-billion acquisition of Safeway.
The company made the announcement in an earnings release on Thursday from Empire Inc., parent company of Sobeys.

"During the fourth quarter of fiscal 2014, Sobeys completed a detailed full review of its retail store network," the company said. "Based on this detailed review, Sobeys has determined that consistently underperforming stores, representing approximately 50 stores ... and 3.8 per cent of the total retail network gross square footage will close."

About 30 of the stores are in Western Canada, the company said, without divulging any more details about specific locations. But CIBC analyst Perry Caicco, who covers the company, said in a research note "it is probable that 20 of these closures will be in the terrible Ontario market."

Sobeys' parent company says it will close four Sobeys locations in Calgary as well as one Safeway store there in the coming months.

• Sobeys Deer Point, 14939 Deer Ridge Drive S.E.
• Sobeys Fairmount, 9919 Fairmount Drive S.E.
• Sobeys Douglas Square, 11520 24 Street S.E.
• Sobeys London Town, 3545 32 Avenue N.E.
• Glenmore Safeway in Ogden, 7740 18 Street S.E.

The store closures will "strengthen the quality of our store network and is expected, along with other initiatives, to enhance overall performance and net earnings," CEO Marc Poulin said.

The 213 stores it acquired in the Safeway deal are in Western Canada and the Competition Bureau has already ordered Sobeys to sell 23 stores.

The move comes as Sobeys and other grocers are finding their margins squeezed as well-financed U.S. players such as Wal-Mart and Target set up shop here.

The company made the announcement as its earnings results showed profit up slightly to $131.3 million and revenue up to $5.94 billion — just shy of expectations.

The store closure plan will come with a restructuring charge of $169.8 million

It also upped its dividend 3.8 per cent to 27 cents a share

[FallenPixels]

Some of these closures were announced a while back too, so it could be more than 50 (Front St Toronto for example is already closed)

[greeny]

They closed one in Markham last year. A week before closing they had all their frozen food for 50-70% off. Other than that, I didn't see any great deals. They just slowly stopped bringing in inventory, so the store got emptier and emptier until it closed.

[Durham Couponer]

I wonder which Ajax store is closing? We have three (but no FreshCo)!

[FallenPixels]

I asked but they are not willing to share that information yet

[Shwa Girl]

Here are some of the stores already listed to close

Ajax, Sobeys

It's the store on Taunton Rd. The Bayly.Hwy 2 store and Clover Ridge stores are staying.
Saw some Jamie Oliver house ware accessessories on sale --30 % to 50% off
Saw some Compliments frozen entrees reg. $3.49, sale, $1.60
Christmas gift bags - small to large -- all $0.40
Easter baking molds --$0.49
Bulk nuts and dried fruit (produce department) - 50% off
Sobeys employee said mid July to August, all will be gone. Some employees keeping their jobs -- going to nearby stoes

[Durham Couponer]

No! That's my store!

[Shwa Girl]

No! That's my store!

Sorry to hear that it's you store.
At least 2 more stores in Ajax.
And, you are close enough to get the deals as they prepare to close

[PurpleBunny89]

They closed one in Markham last year. A week before closing they had all their frozen food for 50-70% off. Other than that, I didn't see any great deals. They just slowly stopped bringing in inventory, so the store got emptier and emptier until it closed.

Thats what the one in Aurora did before they closed for renovations. To be honest I was shocked they re-opened because there was rarely any customers in there and most of their stock was very old by way of promotions telling the truth.

Now the one where we live will never close I know because its one of two grocery stores for a very large area and its always packed. Poor suckers having to pay full price living in the middle of nowhere. I drive a bit longer and save tons more!