Earth Fare announced it is closing all stores today
https://www.prnewswire.com/news-releases/earth-fare-inc-announces-store-inventory-liquidation-sales-company-pursues-sale-of-stores-300997636.html (https://www.prnewswire.com/news-releases/earth-fare-inc-announces-store-inventory-liquidation-sales-company-pursues-sale-of-stores-300997636.html)
Oh come on now. I was devastated by Lucky's and now this? What is going on with these stores? Is Amazon/ Whole Foods to blame?
Wow. Toney Sleiman has had two grocers blow out on him in two weeks. Three shopping centers impacted, Earth Fare on CR 210, Earth Fare at Atlantic & Kernan, Lucky's at Oakleaf.
Quote from: realestatejax on February 03, 2020, 10:10:09 AM
Wow. Toney Sleiman has had two grocers blow out on him in two weeks. Three shopping centers impacted, Earth Fare on CR 210, Earth Fare at Atlantic & Kernan, Lucky's at Oakleaf.
I think he will be okay. He's still laughing to the bank off the Landing Deal that Curry gave him.
Those shopping centers will find a tenant as they are in good locations
Wow...another one I've never stepped foot in that I guess I never will now.
When you really think of niche grocery stores and the over saturation of them, it was only a matter of time before one gives, than two and the snow ball affect begins.
My assumption is that Fresh Market might be the next one.
There's only so many people will to spend $3 on sour cream that costs them half as much at Publix and a mere $1 at Walmart.
^^^That's the major con with these posh organic supermarkets, they are so expensive. Sprouts better watch out, because they are very similar to Lucky's and Earth Fare.
I wonder if Publix is stopping to think about their Greenwise Markets, because something must be seriously wrong with the market if two competitors have imploded within a week.
Surprised Earth Fare lasted as long as it did. I was in the San Jose Blvd. store numerous times and it was rarely busy. Questioned the location, as well, with Publix, Winn-Dixie, Wal-Mart, Whole Foods, Fresh Market, Aldis, and Native Sun all close by. Hopefully the employees can bounce back.
This is a shame. When I taught at a school on Kernan, I was in that EarthFare on a near-daily basis. Sorry they couldn't make a go of it. Whole Foods and Trader Joe's seem to own this market. Really hope Fresh Market can stick around.
Focusing primarily on organic has some business issues. First, its usually much more expensive than regular produce. As a result, only a small percentage of the population is actually able to buy it on an ongoing basis. There are too many stores selling organic vs. the number of people that can/will pay for it.
Another issue is whether organic is worth the price. The benefits of organic can vary greatly over a range of items due to many factors. And, it isn't always possible to prove that an item labeled organic is actually "organic," and that's assuming everyone can actually agree on what constitutes organic.
Most people would be better off if they just ate more produce regardless of whether it is "organic." Starting with getting kids in schools to eat produce!
It was interesting watching the Michelob Ultra Gold beer commercial for the Super Bowl (https://www.youtube.com/watch?v=ANarZ_113Xc&gclid=Cj0KCQiApt_xBRDxARIsAAMUMu90IyS3cF6Z6p40ajkiPrD-KnpMOpp7pkOyTdKxVvcWhB219QZJLmgaAoWSEALw_wcB (https://www.youtube.com/watch?v=ANarZ_113Xc&gclid=Cj0KCQiApt_xBRDxARIsAAMUMu90IyS3cF6Z6p40ajkiPrD-KnpMOpp7pkOyTdKxVvcWhB219QZJLmgaAoWSEALw_wcB)) that stated that less than 1% of farmland grows organic. This very small supply at much higher costs to produce yields those higher prices at the store that few can afford. If you believe AmBev, buy the beer and increase the amount of organic farmland 8). Then there is this quote in the NY Times:
QuoteAmong the many skeptics who started doing the math after watching that ad was Julie Kenney, Iowa's deputy secretary of agriculture.
"So for Michelob to transition a single acre of crop land to organic, they will have to sell 7260 six packs of beer? Glad beer companies continue to look out for us," she said on Twitter, with her comments followed by a skeptical "thinking face" emoji.
She added: "It would take 2.5 million six packs of Michelob Ultra to convert the average Iowa farm to organic."
Quote from: Jagsdrew on February 03, 2020, 11:20:19 AM
My assumption is that Fresh Market might be the next one.
Fresh Market is pretty different. They are much much larger and much more established. Not saying it can't happen to them but it makes their situation different. Sprouts would be in a similar boat...rapid expansion which is a big gamble. One that apparently Lucky's and Earth Fare have lost.
A business plan marketing products (organic) to people that can't afford it (millennials) was never going to succeed.