In this week’s recap of the Top 10 most popular Supermarket News articles, the top story was Rite Aid CEO’s $20M salary causes ire among lenders. Despite Rite Aid Corp. declaring bankruptcy in October, CEO Jeffrey Stein is set to receive a $20 million payout. And the retailer’s main lenders aren’t happy about it, according to reporting from Bloomberg.
More top stories:
In other news, despite aggressive membership promotions by Instacart and Walmart that drove an increase in monthly active users, online grocery sales slid 0.4% in May relative to a year ago, to $6.8 billion, according to the latest Brick Meets Click/Mercatus Grocery Shopper Survey.
The decline was driven by a 6% decline in pickup order frequency combined with a slight decline in average order value. The overall monthly active user (MAU) base for pickup was up more than 3% on a year-over-year basis in May 2024 vs. a year ago, however.
Other top stories:
Source: supermarketnews.com