Shoppers may enjoy low prices at the supermarket, but food deflation certainly has not been a friend of supermarket investors. David Hirz, CEO of Smart & Final Stores (SFS) , said he expects the tide to turn in 2017. During the third quarter, the company opened two new Smart & Final Extra! stores, completed two relocations of legacy Smart & Final stores to the Smart & Final Extra! format and closed five legacy Smart & Final stores. Smart & Final also opened one new Cash & Carry store during the third quarter, bringing the company up to a total of 304 stores, including 165 Smart & Final Extra! stores, 83 legacy Smart & Final stores and 56 Cash & Carry stores. In terms of distinguishing itself from the growing list of grocery-sellers including the likes of Walmart (WMT) and Amazon (AMZN) , Smart & Final has been focusing on its club-sized offerings and unique product offerings.

More from Video

Here's One Reason Why the Markets Have Become Resilient to Trade Worries

Here's One Reason Why the Markets Have Become Resilient to Trade Worries

Jim Cramer: Walmart, Nike and FedEx Point to a Strong US Economy

Jim Cramer: Walmart, Nike and FedEx Point to a Strong US Economy

Jim Cramer: The US Has Leverage Over China

Jim Cramer: The US Has Leverage Over China

Jim Cramer Talks China, Walmart, Nike, FedEx and More

Jim Cramer Talks China, Walmart, Nike, FedEx and More

Wall Street Is Probably Too Optimistic on Stocks, Sell Now

Wall Street Is Probably Too Optimistic on Stocks, Sell Now