the staff of the Ridgewood blog
Ridgewood NJ, grocery store chain Stop & Shop has announced plans to close 32 underperforming stores, including locations in Carlstadt, Ringwood, and eight other sites in New Jersey by the end of this year.
“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” said Stop & Shop President Gordon Reid in a statement on Friday.
Despite these closures, Stop & Shop will continue to operate over 350 stores across its five-state footprint.
Since 2018, the chain has remodeled nearly 200 of its stores. However, Stop & Shop CEO JJ Fleeman acknowledged that these efforts were insufficient to meet the company’s goals. “It’s not enough, and it’s not where we want to be or need to be,” Fleeman stated.
Stop & Shop has assured that all affected workers will be offered potential positions within the company, according to spokesperson Daniel Wolk.
Store Closures in New Jersey
Stop & Shop will close the following New Jersey locations by the end of 2024:
- 1083 Inman Ave., Edison
- 1049 US Highway 1 South, Edison
- 4861 US Highway 9, Howell
- 1278 US Highway 22, Phillipsburg
- 581 Stelton Rd., Piscataway
- 625 Paterson Ave., Carlstadt
- 1221 State Route 27, Franklin Township
- 130 Skyline Dr., Ringwood
- 505 Richmond Ave., Point Pleasant Beach
- 2275 West County Line Rd., Jackson
The chain currently operates 57 stores in New Jersey.
Industry-Wide Trends
The announcement from Stop & Shop comes amid a broader trend of store closures and financial difficulties for retailers. Pharmacy chain Walgreens plans to close hundreds of underperforming stores, and discount chain Big Lots has announced it will close up to 40 stores as it considers bankruptcy.
Additionally, companies like Walgreens, Target, and Aldi have announced plans to slash prices on thousands of products to help consumers cope with inflation.
Several companies with a presence in New Jersey, including Red Lobster, Rite Aid, Bed Bath & Beyond, and Christmas Tree Shops, have filed for bankruptcy since the pandemic.
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Shoplifting is a significant factor
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