How Red Apple Group CEO is handling coronavirus crisis
Red Apple Group CEO John Catsimatidis joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the coronavirus has impacted food supply chains.
Video Transcript
ALEXIS CHRISTOFOROUS: What's it like for your workers to restock those supermarkets?
JOHN CATSIMATIDIS: I'll tell you, we have some dedicated workers. Grestides is over a hundred years old. D'Agostino is a hundred years old, and some of these people have worked for those companies for 20 years, 30 years, 40 years. And we've been through snowstorms. We've been through hurricanes. And it's-- they're used to sacrificing. But right now, we've never-- this is the first virus we've been through. And these people have been used to sleeping in the stores so they'll be on time to open the next morning.
The stock situation is-- it's continuously become in, and it is coming in. And we're not having any major outages. You know, we had some major outages with toilet tissue for a while, but it's starting to recoup. It's starting to come in.
And what we're encouraging people to do, as per my friend Dr. Oz, eat plenty of produce. Eat plenty of vegetables. Eat all of the natural vitamin C, vitamin D foods, and it's more healthy for you.
BRIAN SOZZI: John, Brian here. Good. Thanks for taking a few minutes this morning.
You know, we heard from Walmart and Target this week put in-- now they're installing plexiglass windows at their cashier checkout lanes. They're cleaning their checkout lanes faster than ever before. Are you putting in any of those type of precautions in your stores?
JOHN CATSIMATIDIS: Yes. We are starting to do that. And I think they went into three or four stores yesterday, and it's continuously being done.
In addition, we've got electronic thermometers coming in for our store managers. Before a employee checks in, he physically takes their temperature.
ALEXIS CHRISTOFOROUS: Yeah, John, I want to bounce off that because we're hearing reports now that some workers at Trader Joe's and some other supermarket chains are becoming sick. There's concern obviously for their health, but also they are touching food products that then we will be going in and touching. How do you even begin to wrap your hands around something like that?
JOHN CATSIMATIDIS: Well, the good news is D'Agostino, Grestides, we have had zero problems. And we are going to work every day, and everybody's taught to be careful.
We have this other company that has come in. They did seven, eight stores the last two days where it completely sanitizes the store. So, you know, you're starting fresh, and I think that's important. You have to be careful, and our employees have been taught to be careful.
BRIAN SOZZI: John, are you happy with New York City mayor-- Mr. de Blasio's leadership during this crisis?
JOHN CATSIMATIDIS: Well, I'm not going to blame any of our politicians during this period of time. It's a tough period of time. There is no school that a mayor or governor has gone to where you say, well, how do I treat a virus crisis? You know, they know how to treat snowstorms and hurricanes, but how do you treat a virus crisis? And I think they're smart enough to gather enough intelligent people around them to do the right thing.
ALEXIS CHRISTOFOROUS: And, John, of course you ran for mayor a few years ago in New York City. You obviously love the city. You are-- you are a New Yorker. What are you doing in terms of your employees? Have you had to even hire more employees, even on a temporary basis, to meet the growing demand?
JOHN CATSIMATIDIS: Well, our employees as far as Grestides and-- we are hiring some additional ones because the original ones were working 70-hour weeks or 60-hour weeks. So they can't continue to do that forever, so we are hiring additional employees.
ALEXIS CHRISTOFOROUS: And finally, what tips can you give us as consumers going into stores like a Grestides to protect ourselves? Especially when I think people are very concerned about touching products that other people have touched, especially when it comes to some of the fresh fruits and vegetables that you were talking about.
JOHN CATSIMATIDIS: I would say avoid contact with other people. People are even scared to count money because money, there could be a virus on them. And use your credit cards if you have to. That's another good system to do. And just be as careful as you can.
ALEXIS CHRISTOFOROUS: Are you seeing an uptick in people paying digitally in your stores versus cash? Are they staying away from cash?
JOHN CATSIMATIDIS: Well, right now, don't forget-- in New York City, 60% of the food consumed is in restaurants. And with the restaurants being closed, there is an uptick in the supermarket business.
ALEXIS CHRISTOFOROUS: All right, John Catsimatidis of Red Apple Group, thanks for being with us, and stay safe. We appreciate it.
JOHN CATSIMATIDIS: Thank you.
