ECON Godiva Chocolate Closing All US Stores on Plunging Sales

[Doomer Doug]

Zerohedge

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There is one Godiva Chocolate Store in downtown Portland, a block or so away from where I live. Mzkitty this is the THIRD store that has closed in downtown Portland that are LONG TERM presences. Steven's Nest, 100 years, Ross Dress for Less, over 30 years downtown, and now Godiva chocolate, between 20 and 30 years at that spot. When I worked the call center in the building, I used to buy my coffee there and get a free chocolate. Downtown is going away, and it isn't coming back. We used to have a Belgian Chocolate Store, and a Swiss chocolate store, and a See's chocolate store 25 years ago, and now we got a box of Whitman from Rite Aid, which looks like it is getting ready to close. My Indian restaurant looks to be gone permanently with metal grating now over the entrance alcove.

BY TYLER DURDEN
MONDAY, JAN 25, 2021 - 15:50

Godiva is riding its company horse out of North America and shutting down or selling all 128 of its brick-and-mortar locations in the U.S. and Canada by the end of March, the chocolatier announced on Sunday. And while the company’s stores in the Middle East, Europe, and China will remain open, Eater.com notes that that’s of little use to America’s last-minute gift-givers who previously could’ve counted on swinging by the mall post-work and treating their loved ones to a gilded box of truffles.

Godiva cited the drop in traffic during the pandemic and changing consumer buying behavior as reasons behind the decision. While people are no longer shopping in person at Godiva stores, the company has seen growth in online sales and purchases through its retail and grocery partners.

CEO Nurtac Afridi, who was appointed to the role last month by Govida’s Turkish parent company Yildiz Holding, said in a written statement that the company has “always been focused on what our consumers need and how they want to experience our brand, which is why we have made this decision.”

Local reports indicated that many of the Godiva stores will remain open through Valentine’s Day, a major sales period for the chocolatier.

The Indianapolis Business Journal reported that an Indianapolis Godiva shop would close on Feb. 15, while The Dallas Morning News reported that seven Texas locations would shutter by the end of March.
In 2019, the chocolate maker opened its first-ever U.S. cafe in New York, selling its signature confectionery alongside drinks and food like sandwiches, salads, and something called the “croiffle,” a.k.a. a croissant press into a hot waffle. At the time, Godiva had plans to open 2,000 cafes over the next six years, according to Eater.

 

[Jonas Parker]

Godiva is riding its company horse out of North America and shutting down or selling all 128 of its brick-and-mortar locations in the U.S. and Canada by the end of March, the chocolatier announced on Sunday.

Are they wearing clothes?

 

[greysage]

If I need a chocolate fix it'll be from my grocery store brand bag of semisweet morsels that cost a buck fifty.

 

[Loretta Van Riet]

I would of thought sales would increase with a quarantine. Order online.

 

[naegling62]

High quality Chocolate at high prices.

 

[Macgyver]

Never knew they had stores.

I never thought there stuff was that good. Ghirardelli is better.

 

[mzkitty]

I like Godiva; Wegmans at Pittsford Plaza had one of their stands in their store. It is expensive though. I also like Ghiradelli. When I lived in CA, everybody raved about See's. I tried it and didn't like it.

Too bad, Doug. Truly. How can ya live without decent chocolate?

 

[pops88]

I have a loyalty club card for them. I can get a free piece of chocolate every month and I don't have to buy anything. The mall is only about 2 miles away. Bummer.

 

[DeathRacer]

I was never really big on Godiva. Ghiradelli is good.

I also like some of the smaller chocolatiers like Lake Champlain Chocolates in Vermont (their New World drinking chocolate - different from cocoa - was SO good; I was so bummed that they stopped making it several years ago) and Seattle Chocolates (some great truffles, IMHO).

There are others I'm not remembering at the moment.

 

[JF&P]

I just ordered some Ghiradelli to be delivered to my door. Mmmm

Chocolate is supposed to be good for us guys with bad hearts.

 

[lonestar09]

Check Dollar Tree of all places. They have been carrying Godiva chocolate bars and 4 pack of truffles. Not bad for the price either. Gave many out at Christmas.

 

[nehimama]

do you know why European chocolates are so much better than those manufactured in the USA? American chocolatiers routinely siphon off most of the cocoa butter and sell it to the cosmetic industry, replacing it with oils. European chocoltiers keep all the cocoa butter IN

 

[nehimama]

Do you know why European chocolates are so much better than those manufactured in the USA? American chocolatiers routinely siphon off most of the cocoa butter and sell it to the cosmetics industry, replacing it with oils. European chocoltiers keep all the cocoa butter IN their product. Why I get most of my chocolate from Aldis. I always look for Choceur and Ritter Sport.

 

[briches]

I just ordered some Ghiradelli to be delivered to my door. Mmmm

Chocolate is supposed to be good for us guys with bad hearts.

Where did you order? Hubby and I were just talking about Ghiradelli last night. It would be a fun surprise to order some for him.

 

[compchyk]

Do you know why European chocolates are so much better than those manufactured in the USA? American chocolatiers routinely siphon off most of the cocoa butter and sell it to the cosmetics industry, replacing it with oils. European chocoltiers keep all the cocoa butter IN their product. Why I get most of my chocolate from Aldis. I always look for Choceur Ritter Sport.

Icelandic chocolate much better than Godiva. (They even sell it at Whole Foods). Yes it is worth the price.

For luxe brands: Teuschers or Laderach for me.

 

[abby normal]

Do you know why European chocolates are so much better than those manufactured in the USA? American chocolatiers routinely siphon off most of the cocoa butter and sell it to the cosmetics industry, replacing it with oils. European chocoltiers keep all the cocoa butter IN their product. Why I get most of my chocolate from Aldis. I always look for Choceur Ritter Sport.

Aldi chocolate is excellent!

 

[Melodi]

do you know why European chocolates are so much better than those manufactured in the USA? American chocolatiers routinely siphon off most of the cocoa butter and sell it to the cosmetic industry, replacing it with oils. European chocoltiers keep all the cocoa butter IN

Also (and I heard a whole 15-minute segment about this a few years ago on the radio) the other reason it tastes different is that when Hersey's was starting up in the US, it was much cheaper to use naturally soured milk (which tastes something like yogurt) than fresh milk to make their products.

This is now a kind of "signature taste" in most American chocolate versions even if today it is probably done with various flavorings.

Most European's GAG on Hersey's and other standard American chocolates (before they competed with European imports anyway) because of that sour taste.

We get raw milk and when it sours naturally it doesn't taste bad, but it is something like putting the dough in your chocolate.

Not all American companies did this - and I know many of the expensive specialty chocolates made in the USA today use cream or real milk for their "milk chocolate" which is why it tastes more "European."

I have a mild allergy but I can eat some pieces if I take my meds (no danger, today this is called a food intolerance rather than a "real" allergy) and I can really tell the difference between European (or high-end American) versions made with fresh milk and those made with the older "sour" milk flavor.

I also have a friend here in Ireland who is American and used to make specialty chocolates for the Bay Area high-end farmer's market crowd, and she confirmed some of this.

 

[West]

It's about "liability" too. To own a brick and mortar store, right off the back not only is there a bunch of mandated compliance but you must also have a "general liability policy" plus other insurances. Plus if you have a parking lot a extended policy just on the parking lot.

Then one frivolous lawsuit of a person with a already broken/weak hip(etc), falls down and sues you your insurance company settles and bam! Your mandated premiums are so high, for get about it!

Just saying. It's a racket.

 

[bassgirl]

I like Godiva and Ghiradelli both. They all have Hershey beat. I read somewhere Hershey was 50% wax now. Or close to that.

San Francisco had Ghiradelli square that was nice. I am sure it is wrecked now as well.

 

[Terrwyn]

Mrs, Cavanaughs has better chocolates.

 

[RB Martin]

Campbell's Soup Co. used to own Godiva...

In December 2007, Campbell announced that it entered into an agreement to sell Godiva to Yıldız Holding based in Istanbul, Turkey, which is the owner of Ülker group and the largest consumer goods manufacturer in Turkey.[2][11] The acquisition was completed in March 2008, for $850 million.[12]

 

[Faroe]

Huge overhead for a store front in any major city. Not surprised they are closing.

I like Ghiradelli too. Tried some Lindt white "chocolate" a few weeks ago, and no migraine. A little too sweet, but very tasty. Didn't check the ingredients - cocoa butter without the cocoa?

 

[Blacknarwhal]

I just ordered some Ghiradelli to be delivered to my door. Mmmm

Chocolate is supposed to be good for us guys with bad hearts.

That's what we tell people, anyway.

I liked getting a gift box of it for Mom at Christmas before I started branching out.

Thankfully, there are a lot of places that offer chocolate, and they're small businesses, too, so you can feel better about supporting them. Michigan folks are particularly blessed on this front.

Sayklly's in Escanaba actually has a 10-pound chocolate bar. I mentioned once that I'd get my mom one for Christmas. She specifically told me not to.

These are the sweetest chocolate shops in Michigan

Tempting and tantalizing, chocolate is the perfect gift for Valentine's Day or just Tuesday.

www.mlive.com

 

[lonestar09]

Also using real vanilla instead of vanillan makes a difference in the taste

 

[raven]

I like their product but its really is only meaningful to the wealthy.
It the big picture their contribution to economic health of the nation is small potatoes.
The real concern is all the small business who keep the economy as a whole running.

 

[inskanoot]

The Godiva chocolates at Barnes & Noble had gmo ingredients. No thanks.

 

[Kathy in FL]

Aldi chocolate is excellent!

i wasjust thinking this. I can’t really eat choc much due to the type 2, plus it is an import so I avoid when possible. Then again I don’t drink coffee either.

 

[abby normal]

i wasjust thinking this. I can’t really eat choc much due to the type 2, plus it is an import so I avoid when possible. Then again I don’t drink coffee either.

If I couldn't have coffee or chocolate I might as well join ANTIFA so I could smash things

 

[packyderms_wife]

A lot of people I know are getting their chocolates from either Aldi or Trader Joe's. It's at least half the price and just as good if not better than Godiva.

 

[Chicken Mama]

Steer clear of Belgian chocolates. They're nasty.