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Supermarket&Retailer company history timeline

1859

Chain grocery retailing was a phenomenon that took off around the beginning of the twentieth century in the United States, with the Great Atlantic and Pacific Tea Company (1859) and other small, regional players.

1916

11, 1916 in Memphis, Tenn.—after a few construction delays, which is why the company celebrates the anniversary on the 6th—and thus pioneered a self-service model that was drastically different from the way things had long been done.

Clarence Saunders’ Piggly Wiggly stores, established in Memphis in 1916, are widely credited with introducing America to self-service shopping, although other stores (notably Alpha Beta in Southern California) around the country were experimenting with the idea at about the same time.

1917

At the end of 1917, a group of independent grocers discussed forming a cooperative to create buying power for group members.

1919

In Canada, Loblaw Groceterias, established in Toronto in 1919, also became a major player in the self-service field.

1928

In 1928, the new chain bought most of the west coast’s Piggly Wiggly stores, and later acquired Sanitary Stores in the Washington DC area as well as MacMarr Stores, another chain that Charles Merrill had assembled.

1930

Other supermarkets popped up as well, with King Kullen opening in 1930 in Queens, New York, and Safeway and Kroeger grocers adapting to the new normal.

Back on the East Coast around 1930, the first true supermarket debuted.

1935

Similar transformations occurred among all the “majors”; in fact, most national chains of the time saw their store counts peak around 1935 and then decline sharply through consolidation.

1937

One staple missing from Saunders’ forward-thinking Piggly Wiggly markets, however, was the iconic shopping cart. It wouldn’t be seen in stores until 1937, when it was introduced to Humpty Dumpty locations by Sylvan Goodman.

1940

By 1940, A&P’s store count had been reduced by half, but its sales were up.

1958

In 1958, the first American Express credit cards debuted, which allowed holders to add funds to an account accessible via their plastic card.

1965

For years, Viking used Delivery Line to carry its groceries, while it had its own drivers (about 20 in 1965) to haul perishables.

1966

The bank expanded it nationally in 1966 and it was later renamed Visa.

1967

Viking started its own transportation department in 1967, the same year that many Delivery drivers lost their jobs during a labor dispute.

1972

Kroger’s new “superstore” prototype, introduced in 1972, was perhaps the peak of this trend, with its specialty departments and its orange, gold, and green color palette.

1988

Kroger slimmed down somewhat in 1988 for the same reasons, while Lucky was acquired by American Stores the same year.

1990

Only a few survived, Fred Meyer in Oregon being a noteworthy example, and “one stop shopping” seemed a relatively new and fresh idea when Kmart and Walmart tried it again, with considerably more success, starting around 1990.

1991

Purchases of store or lower-priced brands, instead of national brands, decreased with slightly more than one in ten consumers (15 percent) doing so "pretty much every time" they shop— down three percentage points from 1991.

1999

As a result of five acquisitions since 1999, Viking Stores, Inc., now owns and operates 113 supermarkets and 21 drugstores throughout Missouri and Illinois.

2000

For the fiscal year ending March 25, 2000, Viking Stores and Morgan Food Town had combined revenues of $3.8 billion, $1.2 billion of which was retail grocery sales.

Gross margin for the quarter widened to 13.1 percent from 12.2 percent, reflecting the higher margins associated with the retail grocery operations acquired in fiscal 2000.

2006

Notably, Booking was able to grow its top line at a near 24% CAGR since 2006—a span of twelve years.

2015

Why run a break-even business? That’s a pain in the butt.” Grubhub was all-in on this plan in 2015 with the acquisition of three regional delivery services (RDS), commencing its own investment plan and the hire of Stan Chia from Amazon to run operations and logistics for delivery.

The Q4 2015 P/S dip below 5x coincided with skepticism surrounding the initial launch of the delivery business.

2016

Of course, as technology changed the game inside the store, it changed the game outside, too, with online grocery shopping escalating in popularity so much that more than a third of online shoppers are expected to buy their groceries online in 2016.

2017

Just Walk Out won’t be retrofitted into existing Whole Foods stores, which were acquired by Amazon in 2017.

2018

Enthusiasm gave way to doubt in the fourth quarter of 2018 when the rollout of the new delivery markets was slower than hoped and with a series of large funding transactions for Doordash on the heels of its reemergence from near demise.

In 2018, Kroger announced that its Microsoft Azure-backed Kroger Edge technology would be rolled out across 200 of its stores.

2018 also saw Amazon Go open its doors to the public after a lengthy beta run restricted to Amazon employees. "Go" stores use hundreds of cameras and sensors along with a mandatory app on consumer smartphones to track and charge the items that people walk out with.

2019

While our portfolio had a great start to 2019, Grubhub also happens to have been our worst stock in the first quarter.

With this stock trading at 4.40x consensus 2019 sales estimates, the market is implying that growth will slow and future margins will be well below the “economic parity” margins the company generated just one year ago.

At today’s market cap of around $6b and expected GFS of around $6.4 billion in 2019, the stock is trading below a 1:1 ratio.

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