The Fresh Market moving away from its gourmet roots

The Fresh Market debuted lower prices, expanded product offerings and a new logo late last month at three stores in the Triad region of North Carolina. The new look and offerings will expand to 13 more stores in North Carolina on November 30, and then to the company's remaining stores nationwide through early 2018.

Among the changes in effect at the three NC stores, The Fresh Market has doubled the number of aisles and added 1,300 everyday grocery products, including items from Campbell's and Kellogg's, as well as organic and natural brands like Annie's Homegrown and Nature's Path. The company's intention is to transition from being known as a "gourmet specialty chain."

"The reinvention of our stores will place an emphasis on delicious fresh fare, convenience, and health and wellness options," said CEO Rick Ancetti.

Apollo Global Management acquired The Fresh Market in March (see story here:  Apollo Global to purchase The Fresh Market) and shortly thereafter closed 13 stores and delayed the opening of four others.

Fresh Market delays openings, names Supervalu as supplier

The Fresh Market confirmed earlier this summer that it has re-evaluated certain store openings as it takes time to develop its long-term growth strategy. The stores whose opening dates have been delayed include York, PA and three others in FL, VA and MO.

The store under construction in Blue Bell, PA was not listed and will presumably open as scheduled, although I'm sure The Fresh Market didn't expect McCaffrey's to open across the street when they signed their lease.

During an earnings conference call last November, The Fresh Market CEO Rick Anicetti said the company needed to comprehensively reassess the chain's value proposition due to an influx of competition and a slowdown in sales and profitability. After the company was sold to Apollo Global Capital earlier this year, The Fresh Market announced 13 store closures.

In related news, The Fresh Market announced earlier this month that it had reached a long-term supply agreement with Supervalu to serve as the grocer's wholesaler and distributor. According to a report in Supermarket News, the deal calls for Supervalu to supply The Fresh Market with traditional and signature grocery products across a range of categories. Once The Fresh Market's existing supply contracts expire, Supervalu will become the chain's primary wholesaler.