business news in context, analysis with attitude

• Albertsons said last week that it has purchased three Fresh Market stores in Texas - two in Dallas and one in Fort Worth. The company's plan is to convert the stores to its Tom Thumb banner; they will be closed for renovations, but will reopen before the end of the year.

• In Canada, the Financial Post reports that Sobeys is looking "to cut costs and drive up flagging sales in the wake of its botched integration of the Western Canadian Safeway chain," though the company is not yet saying specifically where the cuts will come.

According to the story, François Vimard, CEO of Empire, which owns Sobeys, says that the company's "cost base is too high given our sales challenges across the country, and therefore it is critical that we optimize our cost structure so we can reinvest cost savings to drive the top line ... We will need to work over the next few months to identify additional cost reductions aimed at improving our efficiency.”
KC's View: