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Higher Food Prices Will Help Supermarkets in 2017 Says Smart & Final CEO

Shoppers may enjoy low prices at the supermarket, but food deflation has certainly hurt supermarket investors. Smart & Final CEO David Hirz expects the tide to turn in 2017.

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) - Get Smart & Final Stores, Inc. Report , 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) - Get Walmart Inc. Report and Amazon (AMZN) - Get Amazon.com, Inc. Report , Smart & Final has been focusing on its club-sized offerings and unique product offerings.

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