Home Back Issues November 2008 Tight times benefit grocery stores

Tight times benefit grocery stores

| Print |  Email
Archives - November 2008
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

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Gender Code

September 2014
Tuesday, August 26, 2014
BY COURTNEY SHERWOOD

Janice Levenhagen-Seeley reprograms tech.


Read more...

Video: The 100 Best Survey

News
Thursday, August 28, 2014

100-best-logo-2015 500pxw-1OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

Is this employee right?

Contributed Blogs
Wednesday, August 13, 2014
081314 thumb employeefeelingsBY TOM COX | OB BLOGGER

When I say, “Your Employee is Always Right,” I do not mean “right about the facts,” but rather “right about how they feel” and “right about how they want to be led.”


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