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Report: Market Basket to continue $300 million payout
Tewksbury, Mass. – DeMoulas Supermarkets Inc., operator of the Market Basket supermarket chain, has reportedly been allowed by a judge in Suffolk Superior Court in Massachusetts to continue making a $300 million payout to shareholders.
According to the Boston Globe, Judge Judith Fabricant denied a motion by Arthur T. DeMoulas, president of DeMoulas Supermarkets, to stop the payout, which had been approved by a majority of the company’s board of directors. All nine shareholders receiving the payout are members of the DeMoulas family. -
99 Cents Only opens stores in Southwest
City of Commerce, Calif. – 99 Cents Only Stores, Inc. is opening two new stores in the Southwestern U.S. today. One is located in Arizona, and one in Texas.
99 Cents Only is opening its first store in Laveen, Ariz. at 3610 West Baseline Road. The store is approximately 11,685 sq. ft. and will feature a perishable food department, including produce, dairy and frozen foods.