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Stop & Shop Could Lose $100M As Result Of 11-Day Workers' Strike

The 11-day Stop & Shop workers strike could cost the company $100 million, Supermarket News reported. Workers picket outside a Danbury Stop & Shop during the strike.
The 11-day Stop & Shop workers strike could cost the company $100 million, Supermarket News reported. Workers picket outside a Danbury Stop & Shop during the strike. Photo Credit: Donna Christopher

The Stop & Shop workers strike that lasted 11 days in Connecticut, Massachusetts and Rhode Island could cost the chain over $100 million in profits, Supermarket News reported.

Parent company Ahold Delhaize gave the estimate following the end of the strike Sunday, April 21 of a one-off impact of $90 million to $110 million on the retail giant's underlying operating profit for 2019, according to the article.

Lower sales, increased shrink of seasonal and perishable inventory, and additional supply-chain expenses are what makes up the amount, said the report.

Ahold Delhaize said the strike won't affect results for 2019's first quarter because of strength in its other brands.

Ahold Delhaize anticipates Stop & Shop's underlying profit margin to be slightly lower in 2019 than in 2018 following the strike, according to Supermarket News.

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