Tight times benefit grocery stores

| Print |  Email
Saturday, November 01, 2008

STATEWIDE The economic slowdown hasn’t kept grocery-store carts from rolling.

As companies small and large operating across the Oregon business landscape reel from the economic downturn, value-oriented grocery stores are holding their own — for now.

“In terms of overall traffic, it’s up,” says Joe Gilliam, president of the 300-member Northwest Grocery Association. “Unfortunately, [it’s] at the expense of our friends in the restaurant industry.”

Last month, Costco Wholesale Corp., the bulk grocery retailer, announced a 7% increase nationwide in fourth-quarter profit, with overall revenue  up 13% from last year.  At Kroger, the parent company of Fred Meyer, overall earnings increased 12% in its second quarter ending in August compared to last year, according to filings with the Securities and Exchange Commission.

Gilliam sees a profound shift in consumers’ shopping habits at grocery stores. He says more people are seeking bargains with coupons and even more are buying in bulk. “People are filling their pantries more than they did in the past,” he says.

Gilliam also notes more shoppers fleeing high-end grocery stores such as Whole Foods to more value-based stores such as Winco Foods and Safeway. “Everyone is trying to make their bucks stretch,” he says.

The value of Whole Foods Market stock has dropped more than 30% since this time last year.  And restaurants? Total sales are down 4% for the year.     

JASON SHUFFLER


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

The Backstory: Portland Youth Builders

The Latest
Wednesday, June 03, 2015
blog002 1BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

As part of our green workplaces story, Oregon Business checked out a community service project undertaken by Portland Youth Builders, a nonprofit alternative high school. In partnership with Whole Foods, PYB built garden boxes for a Home Forward  housing site. Home Forward is a government agency that provides housing for low income residents and people with disabilities.


Read more...

Department of Self-Promotion

Linda Baker
Wednesday, June 17, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

House of Clarity

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Holding a Power Lunch at Veritable Quandary in downtown Portland.


Read more...

Modern design defines new Portland indoor market

The Latest
Thursday, June 25, 2015
thumbSnøhetta JBPM exterior www mir noBY KIM MOORE | RESEARCH EDITOR

An international architecture firm known for its design of the National September 11 Memorial Museum Pavilion in New York unveiled its plan this week for a modern indoor/outdoor food market at the foot of the Morrison Bridge in downtown Portland.


Read more...

Reader Input: Road Work

March 2015
Wednesday, July 15, 2015

Oregon's roads are crumbling, and revenues from state and local gas taxes are not sufficient to pay for improvements. We asked readers if the private sector should help fund transportation maintenance and repairs. Research partner CFM Strategic Communications conducted the poll of 366 readers in February.

0315 input01 620px

 

Reader comments:

"I feel private enterprises are capable of operating at a higher efficiency than state government."

"This has been used in Oregon since the mid-1800s. It is not a new financing method. This form of financing may help Oregon close its infrastructure deficit by leveraging funds."


Read more...

Brain Storm

July/August 2015
Monday, July 13, 2015
BY CAMILLE GRIGSBY-ROCCA

Can the brave new world of neurotechnology help an OHSU surgeon find a cure for obesity?


Read more...

Fueling Up for the Climb

July/August 2015
Friday, July 10, 2015
BY GREGG MORRIS

Rita Hansen aims to scale natural gas vehicle innovation.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS