Also in this playlist...
This transcript is automatically generated
We'll take a look at this everybody whole foods and the fresh market leading the way on both main street and on Wall Street.
What -- more traditional grocery companies due to compete.
With this new wave of chains Sam Martin is the CEO of AMP as the Great Atlantic & Pacific Tea company he is here with me now -- You're in the middle of -- major comeback campaign based on the fact that you see -- fresh market.
As well that's another company but you CVB organic food market as a place for you to profit house.
Absolutely the fresh Martin.
What people looking for today is a healthy component of food and we focus on the healing power fresh foods which includes organic natural.
Produce meats and and the like and the issue is for us.
-- delighting our stores and our products with the neighborhood -- which extortion attempt.
If you think about the northeast it's -- most diverse neighborhoods in the world sure.
And so where in all of these neighborhoods and we can -- our stores to that to the people that live there make them feel at home they're gonna light and feel better in our store.
Get your perspective -- -- -- private company just came out of Chapter Eleven so congratulations to that you took the company overs are going to Chapter Eleven.
But if you look at some of the stocks that we cover here whole foods fresh market and -- These stocks are up substantially over the last year yet the companies like Safeway for instance have been falling continue to fall over the last -- in your opinion from from.
-- perspective what is happening here -- What you know that the larger the chain of less perspective they have on the local market.
And as you get too big to understand what each customer needs and wants in each neighborhood it's difficult for a large chain to adapt.
So as whole foods and fresh market grow into smaller areas.
They have a better perspective some of the things that we're trying to key on -- is that local perspective the idea that.
The neighborhood the -- -- your -- should be represented in the products the services and that and the feeling that that's or present.
Couple things happening and and the -- -- is one of the reasons the market is down obviously is because of the jobs picture.
Do you think as you try to turn the company around do you see expansion in the future yes absolutely.
Even in the stores were remodeling today.
And the ones we've done in the last few months we've added 203040 jobs in each store.
So this whole concept of improving our store -- not only add employment to those stores.
But now that we're out of bankruptcy we can take a fresh look at the real estate opportunities and where we can grow and build new stores which would also -- The consumer right -- because some very -- consumer confidence numbers.
This week what do you say on the front lines well I see that their purchasing.
Decisions have been.
Very carefully made and they're backing their purchases down from higher priced products -- to better value items.
And buying smaller package sizes making more frequent shops to.
Visits to the supermarket which means to me that there are trying to conserve their budget.
And and really be tight fisted.
-- -- we're we're bringing you brought the price issue but with fuel going higher transportation costs commodity costs on the third perspective as well does that mean that you would have to raise prices a little bit a matter -- Not necessarily we're focusing on producing or or supplying our stores with product from local neighborhoods.
The more local product we can buy the less fuel are dependent on a move that product into the stores so it has to come from Florida vs coming from New Jersey.
It's a much different fuel economy.
One of the things that you have decided to take on again you -- -- of the company as a when and a Chapter Eleven you had to negotiate obviously with the unions and the company.
You're now in the commercials -- become like the Dave Thomas a name hate everything from a -- perspective the then make you nervous at all.
I don't think nervous is the right thing it's anxious right you.
I have the passion for the company have the passion for the business I should be the spokesperson.
And in my point of view is I'm speaking for 30000 employees of our stores I'm not just speaking on -- on our behalf of me.
It's it's about what is our company doing what are we up about and how we portray that best.
I think I have the passion for it.
And I think that comes through in the commercials I believe in our company I believe in the people that run our company and I think all the way through the organization.
To the people ring the growth is up in the -- stand.
They should be proud of this company and how it's being developed.
How how are things how -- the culture there since that the bankruptcy the culture's been.
A difficult thing because we have all these banners that we brought together over time.
So we have Pathmark wall bombs AMP food basics food emporium.
And they all had.
Grown up in their own culture pregnant so my view is we needed to find a way to look at the commonalities between those banners and -- that culture together on the things that are most important.
To a regular customer.
San Maarten would be -- that employment about to exclude certain LP.
Thank you it's good to have you on the show thank you -- all right -- Martin of course a.
Filter by section