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Stop & Shop 'shores' up N.J. acquisition
FAIRFIELD, Conn. — Stop & Shop announced that it has finalized its acquisition of five New Jersey Shore-area Foodtown supermarkets previously owned by Norkus Enterprises.
The transaction involves stores in Freehold Township, Manalapan, Neptune City, Point Pleasant Beach and Long Branch, N.J. Stop & Shop currently operates 10 stores in Monmouth and Ocean counties.
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Winn-Dixie CEO confident in outlook
JACKSONVILLE, Fla. — Winn-Dixie president, chairman and CEO Peter Lynch expressed confidence in the grocer as it heads into its fourth quarter, maintaining that the grocer's estimated adjusted EBITDA will come in at the lower end of the $100 million to $130 million range for fiscal 2011, a 52-week period ending June 29, in light of relatively flat third-quarter results.
So far, the fourth quarter is looking especially positive, Lynch said. “[Identical-store] sales are low single-digit, and the performance is strong,” he told analysts Tuesday morning.