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Roundy's to sell 18 Rainbow stores
Minneapolis -- Grocery retailer Roundy’s said it had entered into definitive agreements to sell 18 Rainbow stores in the Minneapolis/St. Paul market to a group of local grocers, including Supervalu.
The sale price is $65 million, and Roundy’s said it is seeking buyers for a remaining nine Rainbow stores so that it can fully exit the Minneapolis/St. Paul market.
The transaction is expected to close during the third quarter of this year. -
Vitamin Shoppe profit flat in Q1; 60 stores on tap
North Bergen, N.J. -- Vitamin Shoppe reported flat net income for the first quarter, at $20.5 million. Sales during the period grew 10.3% to $307.8 million, boosted by e-commerce strength, and same-store sales increased 3.6%.
“We are continuing to make investments in our omni-channel initiative to further enhance our customers overall experience," said Tony Truesdale, CEO.
The company opened nine stores in the quarter, including one in Canada. It said it plans to open 60 new stores in 2014.