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He also changed his business to conduct cash-only sales. More "Acme Cash Stores" soon opened around the Akron area, reaching 40 locations by 1918. After ceasing home-delivery operations, Albrecht renamed his stores once again to “Acme Cash Basket Stores.” [2] Acme grew to over 100 stores, both large and small, by the 1930s.
[3] [6] [13] He named his new company Cannery Sales. [6] [13] In 1970, Cannery Sales acquired Globe of California and renamed it Canned Foods. [6] [13] Canned Foods changed to selling closeout, factory second, and discounted products. [6] [13] In 1971 Canned Foods signed its first agreement with a supplier, Del Monte Foods. [14]
Kroger bought the chain in 1963 when Market Basket annual sales were $121 million (~$923 million in 2023). [4] In 1982, Kroger decided to exit the competitive Southern California supermarket business and broke up the 65 store Market Basket chain by selling many of stores to Ralphs, Boys, Hughes and Vons while closing the rest.
Market Basket also faced new competition from Wegmans, [17] which opened its first Massachusetts store in 2011. On the employee front, Arthur T. was known for his ability to remember his associates' names, birthdays, and milestones, attending many of their weddings and funerals, checking in on ill employees, and asking about the spouses and ...