One year ago, the board of Market Basket reinstated CEO Arthur T. Demoulas after the company's employees staged a monthlong work stoppage to protest his firing. The standoff resulted from a family feud between Demoulas and his cousin Arthur S. Demoulas; it ended with Arthur T. buying the company from the rival faction.
Today, Market Basket has opened five new stores and plans to open three more,
Bloomberg reported.
“Store prices during the first six months of 2015 were, on average, about 16 percent lower than the competition's, according to research from Neilsen,” the article said. “Yet even with those lower prices, the company managed to distribute $129 million to employees in bonuses and profit-sharing. Its $4.8 billion in annual revenue projected for this year will be Market Basket's biggest gross in its 98-year history.” (Source: Bloomberg, July 31, 2015.)
-
833 reads