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As Solomon's Fresh Market's opening looms in November, AML Foods Limited is considering two more store openings in the coming years, with executives confident there is a strong place for the supermarket in the Bahamian marketplace.
"We're very confident it will be successful and with the right location we can duplicate it in the future," said Gavin Watchorn, Group President and CEO.
"There is room for more than one of these stories - I would say three is a possibility in The Bahamas."
Watchorn was unable to give an exact timetable or specify where the stores would be built at this time.
The business model behind Solomon's Fresh Market, he added, includes a healthy, natural and organic image, which is a niche he believes will fit in well with Bahamian shoppers.
The news comes as the company announced their second-quarter results this week, revealing that while the company's sales are up, net profits have suffered due to the high price of utilities.
In fact, utilities rose 15 percent this year, or $294,000, which "materially impacted" earnings, according to the press release.
The company is putting aside $1 million in 2012 for capital expenditures that will focus on energy usage reduction, geared towards replacing air conditioning and refrigeration units throughout their holdings.
The CEO explained that is four times AML Foods normal expenditure in this area.
Most years, he said the company tends to spend $250,000 on upgrades to improve energy efficiency.
Although the $1 million is expected to have a major impact on utilities costs, Watchorn noted that Solomon's Fresh Market presented a particularly unique opportunity to reduce costs in the future.
Building something "from the ground up", he said, allows AML Foods to be "as energy efficient as possible".
He speculated the approach will save the store between 40 and 50 percent in costs, compared to the other stores under AML's umbrella.
"When we were designing the store, we sat down with utilities in mind," he said.
"Our branding and vision for the store is healthy, natural and organic. We don't want to give the wrong impression as energy hogs. So we have made a lot of decisions and investments that will reduce energy usage."
For example, Watchorn said the new store will make use of skylights, meaning Solomon's won't have to rely on standard electricity as much.
Dionisio D'Aguilar, the Chairman of AML Foods Limited, added that employing these energy saving tactics have been a priority from the beginning.
"I know it has been a major topic of discussion," he felt.
"Natural lighting, keeping the building cool, and yet reducing AC usage is important."
In the case of the skylights, Watchorn explained the lights in the supermarket will actually automatically dim or brighten based on the conditions outside.
Similarly, Solomon's will employ top-notch air conditioners that work in tandem with the store's humidity, cutting on and off depending on the climate control needs.
Energy efficient refrigerators, freezers and special building materials represent a larger initial expenditure.
But Watchorn said he is confident the investment will pay off.
"We believe we will see a return on it in the future in regards to our utility bills."
Food wholesalers in the country should not be struck with fear due to Sysco's acquisition of Bahamas Food Services (BFS), according to a prominent figure in the industry, Owner of Super Value Rupert Roberts told Guardian Business that both parties can co-exist in the local market.
After a few minutes of watching neuropharmacologist Dr. Santy Daya cook up some tasty Indian food, Butler's Food World was saturated with the wonderful odours. This, plus the exotic taste of the various items produced helped to give this chef the coveted winning position in the four-week cook-off at Butler's Food store.
Robin Hood Joins The Wellness Centre To Promote Healthy Food Choices For Back To School
Robin Hood Mega Store on Tonique Williams-Darling Highway recently partnered with Dr. Patti L. Symonette, Chief Executive Officer and Founder of the Wellness Center to provide parents with some helpful tips on making healthy lunch and snack choices when selecting food items for their children returning to school this new school year.
Food security was the topic of choice for Agriculture and Marine Resource Minister Larry Cartwright and H Arlington D Chesney, Executive Director of the Caribbean Agricultural Research and Development Institute (CARDI) .
Built with funds from CARICOM member countries and donor agencies, CARDI was formed in 1975 to improve agriculture management throughout the Caribbean.
processing has taken on added impetus thanks to a new unit established
by Bahamas Agricultural and Industrial Corporation (BAIC).
Headed by Senior Food Processing Officer Tonjia Burrows, it recently
completed a series of workshops on how to add value to locally grown
"We throw away far too much food that could be preserved in various
forms and used when needed," said BAIC executive chairman Edison M Key...