Windom Cub Not In Danger Of Closure—Yet
But CEO tells analysts “we did not move quickly enough to respond to intensifying competitive conditions in our industry."
In the wake of a disappointing quarterly earnings report, the parent company of Windom's Cub Foods store announced it would be cutting $250 million in costs.
Something, in the words of Finance & Commerce, will have to give. An industry analyst F&C spoke to suggested that Supervalue, inc. might start closing some stores. The company's statement announced it would be undertaking a strategic review of its business operations, plus "pursuing deeper and more structural cost savings initiatives" to meet the cuts.
I think to a certain extent, they may have spread their stores too thin or may have gone into trade areas that don’t generate the volume for them that they did before,” Jim McComb told the publication.
McComb is president of the Minneapolis-based real estate and retail consulting firm McComb Group.
But Supervalue spokesperson Mike Siemienas told Patch that no decisions have been made on even whether to close stores as part of the cuts.
"I think that's someone reading too much into this," he said.
Do you get your groceries from the Windom Cub? If it closed, where would you go?