Shopping Centers Today International

DEC 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 39 of 143

or a family-owned retailer to stand the test of time is a noteworthy achievement by itself. for any to do so after nearly 70 years, and in a business well known for razor-thin margins, is remarkable. to do all that and also to be looking ahead in growth mode, as Grocery outlet Bargain mar- ket seems to be doing, is exceptional. the emeryville, Calif.–based chain prides itself on delivering what it calls "extreme value": name- brand merchandise at prices as much as 60 percent lower than at traditional supermarkets. and this the company has done well enough to enable it to operate roughly 200 stores, mainly across the western states, including California, nevada, oregon and washington, and also in Pennsyl- vania. "i like to refer to ourselves as the t.J.maxx of the grocery in- dustry," said Bill Coyle, vice pres- ident of real estate at emeryville, Calif.–based Grocery outlet. Grocery outlet is poised to open a total of 20 stores by the end of this year, and it has plans for an additional 25 or 30 next year. Behind this store growth is Grocery outlet's takeover of 15 fresh & easy store leases in California. future growth will depend on available real estate, but the com- pany hopes to maintain a pace of 25 to 30 new stores yearly for the foreseeable future, according to Coyle. Besides opening in-fill stores in ex- isting markets, Grocery outlet is keen on making an important entry into the los angeles market. initially, Gro- cery outlet bypassed los angeles in fa- vor of San diego. and having opened about a dozen stores in the San diego area already, Grocery outlet says there is still more growth potential there, but that it is also prepared to expand F frugal food At 70, Grocery outlet is still cuttinG prices And AddinG stores By Beth Mattson-Teig r e t a i l i n g t o d a y 40 S C t / d e c e m b e r 2 0 1 5

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