Grocery Outlet, the TJMaxx of supermarkets, is going public
CNNNew York CNN Business — The US economy is strong, yet discount retailers are booming. That’s why “extreme value” supermarket chain Grocery Outlet believes its the perfect time to hit the public market. “Consumers’ search for value is the new normal in retail,” Grocery Outlet said in its filing. Paul Bersebach/Orange County Register/Getty Images Dollar General, Ollie’s Bargain Outlet, TJX, Ross, Burlington and Five Below opened up thousands of stores last year, while German discount grocery chains Aldi and Lidl are on a major growth spurt in the United States. Grocery Outlet stores stock a limited supply of items, but the chain changes up products on shelves frequently to create a TJMaxx-like “fun, treasure hunt shopping experience.” The company believes that constantly changing its merchandise creates a “‘buy now’ sense of urgency” and compels customers to return to stores.
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