Welcome to The Scan for Friday, Aug. 26. Before breaking for this last weekend of meteorological summer, here’s what we’re scanning:
First, there’s a big executive change coming for The Giant Co. The Ahold Delhaize banner said Nicholas Bertram will leave his post as president of the grocer at the end of this month. Next up: We saw a dollar-store data bonanza this week, with Dollar General and Dollar Tree reporting second-quarter earnings. One top takeaway: Dollar stores continue to see growth in food and beverage sales as consumers look to manage their spending to cope with inflation.
Elsewhere, Virginia-based Food City said it would acquire the Cooke’s family of stores in and around Cleveland, Tennessee, and Ahold-owned FreshDirect said it’s ending service in Philadelphia and Washington, D.C., in the next week as it seeks to focus on its New York City business. Finally, Walmart on Wednesday announced the new Walmart Rewards program, which lets Walmart+ members earn cash back on select products that they can redeem on future in-store and online Walmart purchases.
Get all of the details and more at the links below:
Nicholas Bertram Departs Post as The Giant Co. President to 'Pursue New Opportunities'
Dollar Tree and Dollar General, Two Discounters with Very Different Q2s
Food City to Acquire Cooke’s Grocery Stores
FreshDirect Eliminates Philadelphia, Washington, D.C., Service
Walmart Sweetens its Rewards Program