September 27, 2016 1:00 PM ET

Food and Staples Retailing

Company Overview of Tops Markets, LLC

Company Overview

Tops Markets, LLC operates and franchises corporate supermarkets in Western and Northeastern New York, Northern Pennsylvania, Western Vermont, and Massachusetts. Its stores include fresh and grocery departments, gas stations, and pharmacies. The company was founded in 1962 and is headquartered in Williamsville, New York. Tops Markets, LLC operates as a subsidiary of Tops Holding, LLC.

6363 Main Street

Williamsville, NY 14221-5855

United States

Founded in 1962

Phone:

716-635-5000

Fax:

716-633-0898

Key Executives for Tops Markets, LLC

Chairman, Chief Executive Officer and Owner
Age: 64
President, Chief Operating Officer and Director
Age: 49
Chief Financial Officer
Age: 39
Senior Vice President, General Counsel and Secretary
Age: 66
Senior Vice President of Human Resources
Age: 69
Compensation as of Fiscal Year 2016.

Tops Markets, LLC Key Developments

Tops Friendly Markets Opens New Stores in New York and Massachusetts

Tops Friendly Markets has announced the opening of five of its new stores in New York and one in Massachusetts. Four of these stores were previously Stop & Shop stores and two, Hannaford stores. Some of the products and services customers will find are BonusPlus card savings, GasPoints rewards, Pharmacies, in-store butchers, locally grown produce from up to 200 local growers, and thousands of certified organic products. Over the next few months, the company will be remodeling these stores and continuing to enhance offerings. These stores will open at: Timpany Boulevard Gardner, MA; 6726 Rt. 9 Rhinebeck, NY; 271 Main Street New Paltz, NY; 1357 Rt. 9 Wappingers Falls, NY; 16 Jon J Wagner Way LaGrangeville, NY; and 1936 US Route 6 Carmel, NY.

Tops Friendly Markets Opens Six Stores

Tops Friendly Markets is opening six stores that it recently acquired from Stop & Shop and Hannaford Supermarkets. The locations will open in Rhinebeck, New Paltz, Wappingers Falls, LaGrangeville and Carmel, N.Y., and Gardner, Mass. Prescriptions at the stores will be automatically transferred over to the Tops Pharmacy. Former Stop & Shop customers' loyalty cards will automatically be linked to the Tops BonusPlus card and former Hannaford customers will be issued a Tops BonusPlus card that they will see in the mail this week.

Tops Markets Reports Earnings Results for the Second Quarter of 2016

Tops Markets reported earnings results for the second quarter of 2016. For the period, the company's net sales were up 0.6% to $590 million, reflecting a 16.3% decrease in gasoline dollar sales triggered by lower per-gallon prices. Sales increase was due largely to the addition of seven new and acquired supermarkets opened since May 2015, contributing $12.8 million of incremental sales. Same store sales declined 1.1% largely due to food cost deflation in certain categories, including meat and dairy, combined with competitive pressure to respond with lower prices. A $2.9 million loss in the quarter was down from a $37.5 million loss in the second quarter of last year, due to higher inside sales and gross margin, combined with $34.5 million of debt extinguishment costs during the prior year quarter related to a debt refinancing. Sales and strong cost control drove a 6% increase in adjusted EBITDA.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 29, 2016
Hannibal Village Market, Inc.
Merger/Acquisition
July 13, 2016
The Stop & Shop Supermarket Company LLC, 4 Supermarkets in Gardner and Hudson Valley
Merger/Acquisition
July 13, 2016
Hannaford Bros. Co. Inc., Two Supermarkets
 

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