Final+Draft+with+Exhibits

**__Summary Profile __** The United States grocery industry consists of approximately 65,000 supermarkets and other grocery stores with combined annual revenue of $465 billion **(source?)**. Dominant companies within this industry include Kroger, Safeway, and SUPERVALU, as well as Ahold, the U.S. division of Netherlands-based Royal Ahold. The 50 largest companies generate about 70 percent of total revenue **(source?)**, whereas convenience and discount stores, in addition to warehouse clubs and superstores have their own separate industry profiles. The grocery store industry operates in a highly competitive external environment with low industry margins; the individual firms' profitability depends on high sales volumes and efficient operational strategies. The aspect that fosters and drives demand is population growth and consumer preferences. To achieve customer preferences, big companies within this industry that enjoy the economies of purchasing, distribution, marketing and finance are able to offer the convenience of a wide collection of quality products under one roof. The smaller companies on the other hand cater to the local market providing a combination of specialty products and superior customer service. The two companies earning the most revenue, Kroger Company and Safeway Inc., will be analyzed in the comparative analysis. Kroger Company's primary sources of revenue are its food stores, which account for approximately 95% of total company sales. The company owns 2,470 grocery retail stores in 31 states and operates 779 convenience stores in 18 states. It also has 375 fine jewelry stores under names like Fred Meyer Jewelers, Littman Jewelers, Barclay Jewelers, and Fox's Jewelers. These are high-margin businesses, which generate a substantial cash flow. Kroger is the only major U.S. supermarket company operating 40 food-processing and manufacturing facilities producing high quality private-label products that provide value for customers and enhanced margins for Kroger. Kroger operates 909 supermarket fuel centers, which are a natural addition to their one-stop-shopping strategy. The firm's 1,963 pharmacies, located within stores, provide high quality services at everyday low prices (thekrogerco.com, 2010 ﻿ ).  Growing market share is an important part of Kroger’s long-term strategy. Market share allows them to leverage the fixed costs in their business over a wider revenue base; thus, their fundamental operating philosophy is to maintain and increase market share. According to Nielsen Homescan Data in 2009, Kroger’s overall market share increased approximately 60 basis points. During 2009, Kroger successfully attained identical sales, one of the key objectives of their strategic business model. Identical supermarket sales increased 2.1%, without fuel, compared to the prior year. The business continues to widen the gap between Kroger’s identical sales growth trends and those of most of their competitors. Even in the face of high unemployment, unprecedented deflation, and a weak U.S. economy, Kroger has improved its operational performance and continues to focus on creating value for its shareholders (referenceforbusiness.com, 2010).  <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 16.0pt;">Safeway Inc., on the other hand, is one of the largest food and drug retailers in North America. As of March 28, 2010, the company operated 1,712 stores in the Western, Southwestern, Rocky Mountain, and Mid-Atlantic regions of the U.S. as well as in western Canada. In support of its stores, Safeway has an extensive network of distribution manufacturing and food-processing facilities. With 8% of the market, Safeway is the second largest traditional supermarket operator in the United States. With its Blackhawk Network subsidiary, Safeway is also the largest distributor and seller of third party gift cards, offering brands such as Barnes & Noble, iTunes, and Home Depot. Safeway earned $40.8 billion in revenue in 2009, down from $44.1 billion in 2008. In 2009 Safeway reported a net loss of $1,097 million, as compared to net income of $965 million the previous year. Safeway suffered a non-cash goodwill impairment charge related to its reduced market capitalization and the recession; without the charge, Safeway would have posted net income of $720 million. Management blamed the decline in revenues on reduced consumer spending and an increase in bargain shopping, lower fuel prices, and “unprecedented levels” of price deflation for items such as dairy, meat, and produce (marketwatch.com, 2010). <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 16.0pt;">Exhibits 1A and 1B illustrate the Strategic Group Mapping within this industry. The Strategic Group Mapping may be explained through the Boston Consulting Group Matrix, which divides the players in the market in terms of their market growth and market share. Stars have a high market share and high market growth, Companhia Brasileira de Distributors can be stated as the stars with a revenue of $25.5 B and a growth rate of 27.50%. Cash cows high market share and low growth, Kroger is the cash cow of this industry with a revenue of $78.7 B and growth of 9.65%. Dogs are the companies that have a low share of a low growth market: Winn-Dixie Stores, Inc. reported revenues of $7.2 B and a growth of 7.00%. Question marks have high market share but a low growth rate: SuperValu falls under this category with $39.4 B in revenues in 2009 but a 7.55% growth rate (Wikinvest, 2010). <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;">**__<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Porter’s Five Forces __**<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt; mso-bidi-font-style: italic;">1 - //Threat of Entry// <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">According to Professor Michael Porter, <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">when the industry barriers are high, the threat of entry is low (Barney & Hesterly, 2010). The economies of scale barrier for this industry is high as grocery stores have achieved <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> large volumes of production; this results in low costs, <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">making it difficult for competitors to enter the industry. A second barrier, government policy is also high for this industry. The Food and Drug Administration’s (FDAs) regulations to post calories on menu and self-service items, such as made-to-order sandwiches and potato salads, are to be implemented in grocery stores across the nation by March 23, 2011 (Lord-Stewart, 2010). This new regulation, which applies to grocery/food stores containing 20 or more locations, increases the barrier to entry by increasing costs, such as the man-hours needed to calculate calories per serving (Thorn, 2010). As the barriers to entry within this industry are high, the threat of entry is low and will positively impact an industry’s attractiveness and profits (Barney & Hesterly, 2010). <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">2 – // Threat of Rivalry // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">According to Porter, higher costs and slow or declining growth facilitate rivalry (Barney & Hesterly, 2010). Fixed costs, such as land or zoning requirements, may be more costly depending on the location and size of the grocery store (United States Department of Agriculture, n.d.), and extremely high storage costs exist, not only at retail locations, but also at distribution centers. In addition, while grocery stores themselves might be experiencing slow or declining growth (see Exhibit 2), “specialty food retailers such as Trader Joe’s and Whole Foods” are experiencing rapid growth as consumer preferences shift to natural, unprocessed foods (Tekin, 2010). This renewed customer interest in a healthy lifestyle increases the threat of rivalry between grocery stores as stores such as Safeway and Giant compete for a share of profits by offering organic fruits and vegetables, as well as meat and dairy products. The threat of rivalry is high for this industry, making it unattractive, as <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">firms face a constant effort to develop and retain customer loyalty in an effort to compete for profits. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">3 – // Threat of Substitutes // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">The threat of substitutes is high if a product or service fills “the same need but in a different way” (Barney & Hesterly, 2010). <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Peapod is a service that is experiencing growth “at a rate of 25% in most areas” (“Peapod Delivers ‘Express Line’ Service”, 2010). Its goal is to provide a convenient alternative to shopping in stores by giving consumers the ability to purchase their groceries online and have them delivered to their home. It is the “nation’s leading Internet grocer, serving over 280,000 customers in Chicago, New England, and the mid-Atlantic metropolitan regions” ("Peapod Delivers 'Express Line' Service", 2010). Peapod is an example of how a substitute can threaten this industry by keeping potential customers out of stores; however, its users are minimal in comparison with consumers that prefer to shop in stores. A <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">lthough substitutes exist for the grocery industry, there remain few leading alternatives, which leave grocery stores as the dominant force and go-to industry for consumers—decreasing the threat of substitutes for this industry and increasing the attractiveness and profits for firms. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">4 – // Threat of Suppliers // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;"> Porter indicates that a small number of firms in a supplier’s industry and highly differentiated products facilitate supplier power. <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">According to the United States Bureau of Labor Statistics (2009), “in 2008, there were approximately 85,200 grocery stores, of which approximately 25,900 were convenience stores.” However, agriculture limits the locations or business from which to purchase their products. Furthermore, some foods are only available seasonally. They can, however, be obtained from other states, but this limits their selection from whom to purchase. In addition, suppliers of organic foods provide a highly differentiated, specially grown product. As only certain suppliers specialize in these highly demanded foods, they can demand higher prices, increasing their supplier power. As the threat of suppliers for this industry is high, the industry attractiveness and profits are impacted negatively. <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">5 – // Threat of Buyers // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">According to Porter, when a firm has a small number of buyers, buyer power is high. The grocery industry consists of millions of consumers that require their products and/or services. As this industry earns combined annual revenues of $465 billion (source?) and has numerous buyers, their power within this industry is low. However, buyers (consumers) within this industry can vertically integrate backwards by manufacturing their own product. For example, some consumers might be interested in growing and harvesting their own products to sell at popular farmer’s markets. Although this would be considered a threat, the staggering $465 billion in annual revenues indicates that buyers interested in backwards-vertical integration do not threaten the grocery industry. Thus, the threat of buyers in this industry is low, increasing the attractiveness of the industry and resulting in large profits. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;">** __<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Key Industry Trends __ ** <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">1 - // Technology // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Increasing reliance on technology has led to effects on the labor market, such as the use of electronic checkout machines. In addition to affecting a firm’s need for employees, this technology also affects its customers. For instance, customers may not understand how to use self-checkout machines or may prefer interacting with a person at the checkout aisle instead. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">2 - // Demographics // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Speculations have been made about the ever-growing Hispanic demographic and its effects on different markets. Consider the rising purchases of ethnic foods and ingredients. A firm might find it advantageous to increase their presence and awareness in the Hispanic communities through Hispanic products, foods and advertisements. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">3 - // Culture // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Culture defines consumers’ tastes, what triggers and motivates them, which in turn affects their purchasing habits. For instance, our society has adopted a healthy eating trend through natural and/or organic food products, in addition to recycling, and “Going Green”. This information holds value to this industry if analyzed and utilized correctly. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">4 - // Economic Climate // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">The economic climate, such as a recession or depression, affects the pricing, buying patterns of consumers, and reliance on commodity food items within this industry. Rising interest rates as a result of a poor economic state also have long term effects, thus must be considered and thoroughly analyzed. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">5 - // Government Regulation // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Within this industry, the government imposes production limits on many foods. Extensive research is needed to know these limits and the licensing required to produce these products. This limitation affects the existing market available for consumers, in addition to the pricing of these items and a firm’s profit margins. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">6 - // Special International Events // <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">The ways in which special international events or occurrences affect consumer and government spending habits depend on how loyal they are to those commodities. For instance, in a time of war, government spending may increase in the areas of weapons and arms and be cutting back in other areas. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;">** __<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Opportunities and Threats __ ** <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Within the grocery store industry, shops are trying their best to focus on the main catalyst of their business—their customers. In order for any grocery store to withstand the competition, meeting the needs of their customers are essential. Once any market is able to successfully pinpoint their target market they are able to create a competitive advantage over their competitors. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">In addition, the buying patterns for this industry are becoming more diverse, which allows grocery stores the opportunity expand their product selection. For example, within grocery stores, new aisles have been introduced that specifically cater to organic and ethnic foods. Having these two additions to the product selection increases the attractiveness of this industry for consumers. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">According to the article, //__Grocery Store Trends__//, “grocery stores are exploring new opportunities in urban markets, wooed by the … returning-to-the-city middle and high income singles, young professionals, and empty-nesters”. This new demographic could allow grocery stores to “remove less profitable paper good items such as diapers and instead stock the shelves with more high margin specialty items that cater to busy professionals”. This will separate grocery stores from their main competitors—supercenters—because they are setting the tone of having high quality products at a reasonable price. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> Grocery stores have an opportunity to save on their spending power by utilizing locally grown produce instead of purchasing from food retailers. For example, Wegman’s partnerships “support the local farmer and community it helps to reduce the impact on the environment by shrinking the carbon footprint from the farm to the consumer” (Wegman’s site) Not only has Wegman’s reduced their costs; they have created loyal customers by stocking high-quality local products and services that support their community. <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">The main threat to the grocery store industry is the ability to compete with retail stores that are incorporating grocery items into their inventory. For example, many “Mom and Pop shops” and grocery stores centrally located within our neighborhoods find it hard to compete with Wal-Mart supercenter stores. According to the article "Wal-Mart Supercenter vs. The Traditional Supermarket," “…25 out of 29 supermarket bankruptcies in the past decade had been caused by the arrival of a Wal-Mart” (year published). <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-indent: .5in;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Grocery stores are threatened as they try to overpower economical changes. As the U.S. economy struggles through a “recession,” the growth in the unemployment rate forces consumers to think strategically about their purchases. As a result, consumers are shopping where they can receive quality products and/or services at low prices. According to Fox News, “consumer’s acceptance of purchasing store brands is at an all time high” (year published). <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Exhibit 1A: |||| <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> ** <span style="background: #d9d9d9; font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt; mso-shading-themecolor: background1; mso-shading-themeshade: 217;">Leaders in Long-Term Growth Rate (5 year **** <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">)  ** <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> Exhibit 1B: |||| <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> ** <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Leaders in Total Revenue (ttm) 2009 ** <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Exhibit 2: <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt; mso-no-proof: yes;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> Tara - I'm not sure if the chart is going to show up on the Wiki site, but I have added it to our paper, and it looks great! <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-size: 12.0pt;">Source: // <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-size: 12.0pt;">Achieving High Performance in the Retail Grocery Industry //<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-size: 12.0pt;">[PDF File]. (2007). Retrieved from [] <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> __<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">References __<span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;">Reference for business. (2010). //SIC 5411 Grocery Stores//. Retrieved September 24, 2010, from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;"> Wikinvest. (2010). //Grocery Stores//. Retrieved September 24, 2010, from Source: <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;">Einav, L., Leibtag, E., & Nevo, A. (n.d.). //On the Accuracy of Nielsen Homescan Data- The U.S. Department of Agriculture//. Retrieved September 24, 2010, from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 13.0pt;">. <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> //Operations Overview//. (2010). Retrieved September 25, 2010, from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Companhia Brasileira de Distrib || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">27.50%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Great Atlantic & Pacific Tea Co || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">20.00%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Whole Foods Market, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">17.70%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">The Pantry, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">15.00%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Susser Holdings Corporation || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">15.00%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Ingles Markets, Incorporated || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">13.30%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Ruddick Corporation || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">12.00%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Casey’s General Stores, Inc || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">10.23%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Kroger Company || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">9.65%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Safeway Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">8.95%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Safeway Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">8.95%   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Kroger Company (The) Common Stock || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$78.7 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Safeway Inc. Common Stock || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$41.0 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">SuperValu Inc. Common Stock || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$39.4 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Etablissments Delhaize Freres || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$25.5 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Companhia Brasileira de DistribCBD || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$16.0 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Whole Foods Market, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$8.7 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Great Atlantic & Pacific Tea Co. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$8.6 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Winn-Dixie Stores, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$7.2 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">The Pantry, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$6.2 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Casey’s General Stores, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$4.4 B   ||
 * <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">Casey’s General Stores, Inc. || <span style="line-height: 150%; mso-layout-grid-align: none; mso-pagination: none; text-align: center; text-autospace: none;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">$4.4 B   ||

//Safeway Inc- Company Description//. (2010). Retrieved September 24, 2010, from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Whole Foods Market IP, L.P. (2010). //Customer History//. Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Cunningham, Lillian. (2007). //Wal-Mart Supercenter versus the Traditional Supermarket//. Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">. <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Fusaro, D. (2007//Grocery Store Trends and Strategies for Arlington, Virginia// [PDF File]. Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;">[|http://www.arlingtonvirginiausa.com/docs/grocerytrends091707.pdf.] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 21.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">Barney, J. B., & Hesterly, W. S. (2010). //Strategic Management and Competitive Advantage: Concepts.// Upper Saddle River, NJ: Pearson Education Incorporated. <span style="line-height: 21.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">Holz-Clause, M., & Geisler, M. (2010). //Grocery Retailing Profile//. Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">grocery_industry.cfm <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">United States Bureau of Labor Statistics. (2009). //Grocery stores//. Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 21.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">//<span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">Peapod Delivers 'Express Line' Service Through Superior Routing //<span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">. (2010). 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(2010). //Traditional grocery stores losing market share to specialty retailers private label food and beverage market, report finds//. Retrieved from: <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 14.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 19.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 13.0pt;"> <span style="line-height: 22.0pt; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><span style="font-family: "Times New Roman"; font-size: 11.0pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">United States Department of Agriculture. (n.d.). //The economics of supermarket and grocery store location//. 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(2010). //About – giant.// Retrieved from <span style="color: #0026e2; font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">[] <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;"> <span style="font-family: "Times New Roman"; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 15.0pt;">