In this file:
∑ Albertsons eyes going public, reports say
∑ Albertsons to Close 5 Randalls Stores in Texas
Albertsons eyes going public, reports say
Retailerís improved performance and lowered debt will be factors in decision, Wall Street Journal reports
Russell Redman & Michael Browne, Supermarket News
Jan 13, 2020
Albertsons, the second-largest supermarket chain in the country, is once again considering going public.
The Wall Street Journal on Monday reported that the Boise, Idaho-based operator of more than 2,200 grocery stores is expected to decide within the next few weeks whether to proceed with an initial public offering that could value it at around $19 billion. Citing people familiar with the matter, the Journal reports that Albertsons, which is owned by private equity firm Cerberus Capital Management, has been updating IPO documents that have been filed confidentially with the Securities and Exchange Commission.
After Albertsonsí 2015 merger with Safeway, investors tried to take the company public, looking to raise as much as $1.6 billion in an IPO, but then pulled the offering amid lackluster market conditions for retail stocks in late 2015. In 2018, the company attempted to go public with a $24 billion merger deal with Rite Aid Corp., which fell apart due to investor pushback in August 2018.
The struggling Albertsons had sought to boost its scale...
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Albertsons to Close 5 Randalls Stores in Texas
By Gina Acosta, Progressive Grocer††
Albertsons Cos. is shutting five Randalls grocery stores in the Houston area, according to the Houston Chronicle.
The retailer will shutter its Randalls stores at 4540 Kingwood Drive and 600 Kingwood Drive in Kingwood; 2250 Buckthorne Place in Spring; 4775 West Panther Creek in The Woodlands; and 2323 Clear Lake City Boulevard in Houston.
Liquidation sales will start Jan. 15, and the stores are expected to close Feb. 15. The closures will impact 365 employees.
††† "In such a competitive environment, our company must sometimes make tough decisions to close underperforming stores so that we can reinvest in our remaining stores in the marketplace," Randalls spokeswoman Christy Lara told the Chronicle. "We are working diligently to place as many employees as possible in other locations, and we remain committed to the Houston market area."
These closures come after Albertsons...
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