Albertsons to close stores in San Diego
Tuesday, January 24, 2006
Retail analysts say shoppers can expect fewer Albertson's Stores in San Diego County when the sale of the supermarket chain becomes final. Albertson's is currently the second largest grocery chain in the county. KPBS reporter Beth Ford Roth has the story.
An investment group made up of the supermarket chain Supervalue, CVS pharmacies, and two real estate companies purchased Albertsons for $17 billion.
Analysts say Albertsons has never recovered from the supermarket strike.
Retail analyst George Whalin predicts a number of Albertson's stores will likely be shut down and the property sold.
Whalin: "This is a company that's struggled for several years now, and my guess is that part of the ultimate plan will be to close some of the stores that aren't doing as well as they should be."
Whalin says the Albertson's stores that remain open will retain their name. There are 46 Albertson's stores in San Diego County. Beth Ford Roth, KPBS news.
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