In this week’s recap of the Top 10 most popular Supermarket News articles, the top story was Grocery Outlet stock takes a dive on ‘disappointing’ earnings report. Grocery Outlet stock took a steep dive on Tuesday following the release of the discount grocer’s Q1 earnings report where the company lowered its earnings forecast due to unexpected disruptions in implementation of new technology. Stock in the company dropped in value from $25.98 per share prior to the release of the report to $20.16 by mid-morning on Wednesday, a decline of more than 22%.
Other top stories:
- Foxtrot Market’s assets to be sold in foreclosure sale
- Schnucks to close Eatwell Market locations
- Shuttered Foxtrot assets sell for $2.2M
- Meet the 2024 IDDBA Champions of Change
In other news, Instacart has named Emily Reuter to serve as chief financial officer, succeeding Nick Giovanni, who resigned from the position on May 7, according to the San Francisco, Calif.-based last-mile delivery company’s Q1 earnings report. Reuter, 40, is a former executive of Uber Technologies, where she served in a variety of positions. She joined Instacart in January as vice president of finance.
More top stories:
- Kroger plans to invest $84M in Cincinnati and Dayton markets
- Schnuck Markets recalls private label cheese spreads
- Aldi urges suppliers to keep costs low and focus on sustainability
- Instacart adds arsenal of Uber Eats restaurants to its app
