Market Basket

[Zayre88]

There's enough alarm about the board meeting that a petition has been started by concerned customers and associates
http://www.thepetitionsite.com/137/178/861/save-market-basket/#678094988?taf~sep~id=9724625&cid=fb~sep~na%23bbfb=678094988

The Nashua Telegraph is covering it here:
http://www.nashuatelegraph.com/business/1010541-464/demoulas-family-members-still-fighting-in-court.html

The petition is already having an impact
http://www.lowellsun.com/ci_23654609/thousands-rallying-behind-market-basket-ceo

It's great to see all the support from employees and customers.  Almost 28,000 signed the petition.  I signed it!

[retailisking]

I did too! I was struck by this comment on the Lowell Sun article:

"What other CEO in the world knows the names of all his full-time employees?  What other CEO in the world takes the time to attend employees' or employees' family members' funerals and wakes?  What other CEO in the world is willing to personally call a specialist on behalf of an employee that is diagnosed with cancer?  Arthur T. Demoulas is a man of integrity, honesty and concern for his employees.  His business acumen is unmatched."

Read more: http://www.lowellsun.com/ci_23654609/thousands-rallying-behind-market-basket-ceo

[Zayre88]

Exactly! 

And I was amazed by the facts:

- Since 2008, Market Basket has increased sales by one-third
- Since 2008, Market Basket added roughly 8,000 employees
- They maintain one of the highest profit margins in the industry while keeping prices low! 
- Revenue rose from $2.48 billion in 2007 to $4 billion in 2012
- During that period, the chain opened 12 stores and revamped 11
- The chain has no debt!

[retailisking]

I won't link to any more stories about the MB CEO saga - lord knows there are countless dozens of them (just Google it) - I just wanted to pass along this newish photo of the Biddeford Market Basket now in its final stages of construction. It's supposed to open by the end of August.

[Zayre88]

I won't link to any more stories about the MB CEO saga - lord knows there are countless dozens of them (just Google it) - I just wanted to pass along this newish photo of the Biddeford Market Basket now in its final stages of construction. It's supposed to open by the end of August.

Nice!  I passed by on I-95 today and saw the former Lowe's highway sign at the back of the store being painted in Market Basket colors.

[retailisking]

http://www.wickedlocal.com/littleton/news/x606642744/Market-Basket-could-be-anchor-at-The-Point

[retailisking]

Getting closer...

[retailisking]

Opening at 7AM, with a ribbon-cutting ceremony slated for 9AM.
http://www.pressherald.com/business/maines-first-market-basket-opens-sunday-in-biddeford_2013-08-15.html

In other Biddeford Market Basket news, the Demoulas real estate arm has taken majority ownership in Biddeford Crossing, in keeping with Market Basket's preference to own the real estate for its supermarkets.

Edit 8/18: I arrived at Biddeford Crossing at 6AM for the soft opening. By 7:30AM things were really humming and all 24 checkouts were in operation. The place was swarming with senior executives and vendor reps. The deals were insane and the customers didn't seem to mind the bedlam (by now they should have known what to expect!) About 9AM Artie Demoulas delivered his ribbon-cutting speech. It was pretty boilerplate stuff about business and government working together, but you could tell it was a personal triumph for him to be there that day given what had transpired recently. If the opening-day crowds are any indication there will certainly be more Market Baskets in the Pine Tree State!

[d_fife]

Opening at 7AM, with a ribbon-cutting ceremony slated for 9AM.
http://www.pressherald.com/business/maines-first-market-basket-opens-sunday-in-biddeford_2013-08-15.html

In other Biddeford Market Basket news, the Demoulas real estate arm has taken majority ownership in Biddeford Crossing, in keeping with Market Basket's preference to own the real estate for its supermarkets.

Edit 8/18: I arrived at Biddeford Crossing at 6AM for the soft opening. By 7:30AM things were really humming and all 24 checkouts were in operation. The place was swarming with senior executives and vendor reps. The deals were insane and the customers didn't seem to mind the bedlam (by now they should have known what to expect!) About 9AM Artie Demoulas delivered his ribbon-cutting speech. It was pretty boilerplate stuff about business and government working together, but you could tell it was a personal triumph for him to be there that day given what had transpired recently. If the opening-day crowds are any indication there will certainly be more Market Baskets in the Pine Tree State!

how busy was it opening day

[retailisking]

It was very busy by 7:30 or so, but it was a happy sort of busy, with none of the nastiness I've often encountered on Black Friday (which I now avoid like the plague.) The wider aisles and lack of clutter really helps move things along. I took my sweet time navigating the store, timing my checkout to coincide with Arthur T.'s ribbon-cutting speech. There was no shortage of personnel to handle the rush. The only real slowdown I ran into was an inexperienced cashier who was slow in scanning my purchases. Later in the day, as WGME's report stated, they had to close the doors to new shoppers for a time because the building was at capacity.

Edit 8/23: Here's links to coverage in local newspapers and on TV of the grand opening:

http://www.journaltribune.com/articles/2013/08/19/news/doc5212250f9fd3a396079477.txt
http://www.kjonline.com/news/Biddeford-Market-Basket-a-big-hit-among-early-shoppers.html
http://www.wcsh6.com/news/article/253674/2/Market-Basket-brings-more-than-400-jobs-to-Biddeford
http://www.wgme.com/news/top-stories/stories/wgme_vid_18337.shtml
http://www.wmtw.com/news/maine/York-County/market-basket-opens-first-maine-store/-/9284124/21518010/-/x2e7nj/-/index.html
http://www.keepmecurrent.com/sun_chronicle/news/grocer-gets-big-welcome/article_e27ca024-0ace-11e3-bc02-001a4bcf887a.html
http://www.seacoastonline.com/articles/20130822-NEWS-308220341
http://courier.mainelymediallc.com/pageview/pages/2013-08-22 (front page plus page 6)

The Journal Tribune goes into some detail about the depth of the commitment to the Biddeford location; RMD has taken ownership of the entire shopping center with the apparent exception of the Target building and land which TGT owns.

http://rmd-inc.net/rmdFeature.aspx?pid=38

Artie Demoulas is quoted as saying that he has a soft spot for mill towns, which is how DeMoulas made its initial fortune in Lowell, MA. That tells me Lewiston-Auburn may be next on their radar.

[retailisking]

Arthur T. may not be out of the woods yet...though he probably should be after the Biddeford grand opening!
http://bostonherald.com/business/business_markets/2013/08/another_show_of_support_set_for_market_basket_ceo

Edit 8/23: An update from the Lowell Sun
http://www.lowellsun.com/local/ci_23924940/demoulas-supporters-await-word

Edit 8/24: Big loss for the Arthur T. side of the family. Excess cash to go to shareholders...
http://www.lowellsun.com/breakingnews/ci_23930516/source-demoulas-board-oks-excess-payment-shareholders

[retailisking]

Today's Boston Globe has an editorial that touches on the ruin that Arthur S.'s side of the family is wreaking on the family business
http://www.bostonglobe.com/opinion/editorials/2013/08/26/market-basket-descent-into-greed/B94T0H8HicJlQeGBXQXBXK/story.html

[retailisking]

Interesting takes on growth with respect to Market Basket. If they take on debt they can conceivably buy another regional chain such as Shaw's, Big Y or Price Chopper. Yet, with more debt would they take on additional leverage that would force them to increase margins? Would a new CEO destroy the synergy between management and employees and thus their connections with the customer base? Even with its low pricing Market Basket already has healthy margins which has allowed the chain to take advantage of growth opportunities in the past couple of years. I think the letter to associates was a big flop: in essence, they were told "shut up and do your jobs."

http://www.lowellsun.com/news/ci_23994186/shopping-cart-full-changes-looming

[retailisking]

Probably a Hail Mary, but since the board is operating under guidelines set by the court, a judge should rule on this matter. Fingers crossed for Artie...
http://supermarketnews.com/retail-amp-financial/demoulas-ceo-sues-over-board-dispute

[retailisking]

Contractors unpaid, construction screeches to a halt. How long before "Market Basket doesn't pay its bills" gets around to other vendors?
http://www.bizjournals.com/boston/real_estate/2013/09/waltham-market-basket-polaroid-site.html
http://www.wickedlocal.com/waltham/news/x511621816/All-construction-at-Waltham-Polaroid-site-suspended

Edit 9/7: It gets worse - Arthur T is now CEO in name only
http://www.bostonglobe.com/business/2013/09/06/market-basket-dispute-stalls-construction-waltham-real-estate-development/aEQtm00ed8c9goK3KfizdM/story.html

[retailisking]

http://www.reverejournal.com/2013/09/11/family-feud-delays-opening-of-reveres-market-basket-store/

[retailisking]

Not good...
http://www.lowellsun.com/todaysheadlines/ci_24171065/judge-rejects-bid-block-market-basket-payout

[Zayre88]

Not good...
http://www.lowellsun.com/todaysheadlines/ci_24171065/judge-rejects-bid-block-market-basket-payout

I'm really saddened to see that feud unfolding....  Market Basket is a great chain.  The new stores are even better, modern but with that hometown supermarket feel.

[retailisking]

The Waltham project is back on, sans Market Basket, whose operations remain under board control
http://waltham.patch.com/groups/business-news/p/polaroid-site-construction-update

[retailisking]

One of the independent directors has quit, possibly escalating the power struggle over the company's future
http://www.lowellsun.com/breakingnews/ci_24225048/market-basket-board

[retailisking]

Market Basket workers intend to stage a protest at the site of the stalled Waltham MB
http://bostonherald.com/business/business_markets/2013/10/market_basket_workers_to_protest

[retailisking]

http://www.bizjournals.com/boston/blog/mass_roundup/2013/10/arthur-t-demoulas-management-style.html?page=all

[retailisking]

http://www.nashobapublishing.com/breakingnews/ci_24355384/market-basket-hilton-homewood-suites-deal-littleton-project

[retailisking]

The controversial board makes its case to the public:
http://dsmboardinfo.com/

Associates and managers aren't buying it:
http://bostonherald.com/business/business_markets/2013/11/market_basket_s_web_pr

[retailisking]

I have no idea how it will play out, but this is certainly an interesting promotion that should get people talking.

[Zayre88]

I have no idea how it will play out, but this is certainly an interesting promotion that should get people talking.

Are they getting rid of sales or is that 4% is on top of weekly sales?

Can they remain profitable if they do that???

[retailisking]

AFAIK it's on top of sale prices. Despite their reputation as a low-cost operator they have plenty of margin to play with.

[retailisking]

http://www.thesunchronicle.com/news/local_news/south-attleboro-market-basket-faces-delays-in-opening/article_ab090ef9-f270-5b59-b0e1-97691a46b25b.html

[retailisking]

http://wearemarketbasket.com/arthur-t-demoulas-lowell-suns-man-of-the-year/

[Joeg]

Its too bad they don't expand into CT/WMASS