Save Mart Supermarkets
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| Save Mart Supermarkets | |
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| Type | Private/Grocery |
| Founded | 1952 |
| Headquarters | Modesto, California |
| Key people | Robert M. Piccinini, Chairman/CEO Bob Spengler, President Steve Junqueiro, EVP Ronald Riesenbeck, SVP/CFO Mike Silveira, SVP/HR and Legal James Sims, VP/CIO Steve Beaver, VP Save Mart Frank Capps, VP FoodMaxx Woody Hunter, VP Lucky |
| Industry | Retail |
| Products | Bakery, dairy, deli, frozen foods, general grocery, meat, pharmacy, produce, seafood, snacks, liquor |
| Revenue | US$2.6 billion (2006)[1] |
| Website | www.savemart.com |
Save Mart Supermarkets is a regional chain of supermarkets operating under the names of Save Mart, FoodMaxx, Lucky, and S-Mart Foods. There are currently 252 stores, located primarily in California's Central Valley, and the San Francisco Bay Area.
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[edit] History
[edit] Beginnings
Save Mart was founded in January 17, 1952 in Modesto, CA, in California's San Joaquin Valley. The company grew on a successful basis for years, primarily by purchasing stores from larger competitors in the Central Valley. Typically these transactions involved a small number of stores, or even just one store. The company began their growth by acquisition strategy by purchasing about 30 Frys Stores located primarily around Stockton, San Jose, and Concord, CA in 1989. The company also purchased a few stores from Safeway in Fresno area in the 1995 period, and a couple more stores from Safeway in Modesto and Stockton, CA (both Pak N Save Stores) in 1997. Also in 1997, the company purchased about 10 Lucky Stores in the Central Valley. Around 2002, the company purchased all corporate owned Food 4 Less Stores from Fleming in Northern California and operates them with the Food Maxx name. As Ralphs left the Central Valley during 2005-2006, the company purchased three Ralphs stores in Clovis and Bakersfield, CA. The company's largest transaction (to date) is described below.
One of the company's operating philosophies which has helped it grow and give it better scale involves keeping stores open as long as they make any amount of profit, unlike larger chains who typically have high profit expectations for stores and will close a store that does not meet such expectations even if it is making some money.
The company's labor arrangement is also unique in that some of their stores are unionized while some are not. Their distribution operation is also split between union and non-union employees. Reportedly, trucks that say "Smart Transport" are non-union, while trucks that say "Save Mart Supermarkets" are union
[edit] Albertsons
On November 27, 2006, Save Mart announced that it had signed an agreement to acquire 132 Albertsons LLC stores in Northern California and Northern Nevada. Save Mart officially began operating the new stores in late February 2007, and the acquired stores will gradually be re-branded over the course of nine months.[2]
The company will convert eight Albertsons LLC stores per week (to Lucky and Save Mart banners) beginning in June and ending in October.
Supermarket News ranked Save Mart No. 28 in the 2007 "Top 75 North American Food Retailers" based on 2006 fiscal year estimated sales of US$5.0 billion.[1]
[edit] Save Mart Center
Save Mart purchased for US$40 million the naming rights to the multi-purpose arena located on the campus of California State University, Fresno. The ribbon cutting for Save Mart Center was October 27, 2003, with a community open house held on November 5, 2003.
[edit] NASCAR
[edit] References
- ^ a b "2007 Top 75 North American Food Retailers", Supermarket News. Retrieved on 2007-02-24.
- ^ Save Mart Supermarkets confirms sale of Albertson's Northern California division (PDF), Save Mart Supermarkets, February 23, 2007.
