Trader Joe's is Not Closing All Its Stores
Posted on March 31, 2016
Trader Joe's will not be closing down all its stores by 2017 as an article on Yahoo! News reportedly earlier today. The article has since been removed. As of this writing late on March 31st it is still showing up in Google News but the link to the story no longer works. The article was either a false story or an April Fool's Day joke that was published several hours too early.Snopes already has a report debunking the article calling an early April Fool's release. This sometimes happens and when it does it always catches people off guard. Trade Joe's is continuously opening stores as you can see can on its Announcements page.
The April Fool's story on Yahoo News said: "In a surprising press release this morning, Trader Joe's announced they will be closing all 457 locations by January 2017. The company has been having financial problems for a while, and with online sales and so many new organic food stores opening competition has been incredibly stiff. The past year they have been slashing prices to combat their main competitor Whole Foods, however this was not enough to keep up."
It also quoted Trader Joe's CEO Dan Bane as saying, "The competition has been steeper and steeper every quarter. At this point, there isn't enough cookie butter in the world to pave the road ahead."
The story reads like it was pushed out by a Trader Joe's competitor. Fortunately, Trader Joe's remains open with plenty of Speculoos Cookie Butter for everyone. Don't be surprised if this story returns tomorrow when it really is April 1st.