Expert: New Kroger Co. (KR) urban store concept is ‘exceptionally profitable’February 24, 2016
Will Main & Vine come to Downtown Cincinnati?
By Dan Monk
CINCINNATI – The Kroger Co. could have a blockbuster hit on its hands with Main & Vine, a new urban-format store concept that the Cincinnati-based grocery chain is testing in Gig Harbor, Washington.
“It’ll be exceptionally profitable,” said Burt Flickinger III, managing director of Strategic Resource Group, a New York -based retail consulting firm.
Flickinger’s company advises retailers on new-store locations, industry trends and operating efficiencies. He sent a team of observers to the vacation village near Seattle to collect performance metrics on the new store, which opened Feb. 3.
ased on those results, Flickinger estimates the Gig Harbor store will generate up to $38 million annually and generate up to 350 percent more sales volume than a “typical” Kroger store its size.
Kroger declined to comment on Flickinger’s estimates, but spokesman Keith Dailey said the company is excited about its prospects in Gig Harbor.
“Main & Vine mixes local, specialty and everyday products all at affordable prices,” Dailey said. “It’s a new concept to re-imagine the modern grocery shopping experience and we are optimistic about its future.“
WCPO members can learn what Kroger’s new concept could mean for Downtown Cincinnati.