SAN FRANCISCO — Andronico's Community Markets said it has seen sales increase as the company's new owners have begun remerchandising the stores and launching a decor upgrade at its highest-volume location here.
Matt Tesoriero, director of marketing, declined to put a specific number on the sales jump but said, "The increases have exceeded every metric for growth into the high-single digits."
Andronico's, a five-store operator in the Bay Area, was acquired out of bankruptcy last October for a reported $16 million by Renovo Capital, a Denver-based investment company.
Bill Andronico, the grandson of the founder and the former president and CEO, is serving in an advisory capacity as chief administration officer.
According to Tesoriero, about 70% of the buying staff is new. Tesoriero himself was formerly with Just Desserts, a CPG company here.
Over the last eight months, the stores' SKU count has been rationalized, with approximately 7,000 low-performing items eliminated and replaced with approximately 5,500 new items "of a better quality, including many organics," Tesoriero said.
The new owners have begun a chainwide renovation, initially making cosmetic and decor changes at its store here while getting ready to begin a complete overhaul of one of its Berkeley stores this weekend, he added. All five stores are expected to be fully renovated over the next two years, he said.