Publix CEO Howard Jenkins laid out the plans in a prepared statement but did not disclose construction costs or store sizes. Based on the chain's average store size of 80,000 sf, retail brokers who have worked with Publix for years tell GlobeSt.com the company's expansion move amounts to 27.2 million sf. An undetermined number of new locations will replace older stores.
The fast-track store development phase averages 68 stores a year, up from a previously projected 54 stores in 2001 and 46 units in 2000. The company's profit in 2000 was $530.4 million on revenue of $14.7 billion. In 1999, Publix earned $462.4 million on sales of $13.2 billion.
As part of its expansion mode, the 80-year-old company will be constructing its new Pix line of gas service stations and convenience stores on outparcels at existing stores in Deltona, FL, Kissimmee, FL, Winter Haven, FL and its home base in Lakeland.
The brick-and-mortar expansion mode dovetails with the company's previously announced plans to invest $33 million this year on opening its online sales operations.
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