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Publix – America’s one of its kind retailer
Publix Super Markets, Inc., popularly known as Publix, is one of its kind because it is entirely owned by their present and past employees. It is an American Supermarket chain based in Lakeland, Florida. The company operates throughout the Southeast, with locations in Alabama, Georgia, Florida, South Carolina, Tennessee, North Carolina and has plans to extend to Virginia in 2017. It was founded by George W. Jenkins at Winter Haven, Florida on September 6, 1930 and has remained private since its incorporation.
It is operating in the sectors of supermarkets, event planning, money services, online shopping and home delivery. Currently, Todd Jones is serving the office of CEO and President in the company and Ed Crenshaw is the Chairman its Board of Directors. It serves a wide range of products, which includes bakery, dairy, deli, frozen foods, grocery, meat, pharmacy, seafood, snacks, liquor, sushi, prepared food and more.
Current Market Value
Publix is the largest employee owned company in the world. It is currently ranked No. 67 on Fortune’s list of 100 Best Companies to Work For. The company was also ranked No. 8 on Forbes’ 2015 list of America’s Largest Private Companies and it is the largest of its kind in Florida. The company’s 2015 sales summed to US$32.4 billion, with profits of $1.97 billion. They ranked #87 on Fortune magazine’s Fortune 500 list of American based companies for 2016. It was No.5 in the “Top 75 North American Food Retailers” list based on fiscal year sales. As reported based on their 2014 revenue, Publix is the 35th largest retailer in the world and the thirteenth largest in the US.
It is among the very few American retailers who operate over 1000 locations. Moreover, it employs almost 193,000 people who work in its cooking schools, eight grocery distribution centers, corporate offices and ten manufacturing facilities. The company’s stores are operating as far north as Clarksville, Tennessee, and as far south as Key West, Florida, while the westernmost location is in greater Mobile, Alabama. The State of Florida holds the record of having largest number of their stores, with 768 of them as of 2015.
The first Publix store was started in a 27 feet by 65 feet building on Western Central Avenue in Winter Haven of the Florida State. In the year 1934, the store reported sales of US$ 120,000. Despite the ongoing Great Depression in 1935, their second store, The Economy Food Store was financially successful. It was also located at Winter Haven. In 1945, Jenkins acquired the 19-store All American chain of food stores. In 1951, the Publix built their first Distribution Warehouse in Lakeland, Florida, which was now their headquarters too.
The donut shops in their supermarkets were converted into a full-fledged bakery in the year 1957. By 1959, Publix began to expand their stores towards South Florida. In 1982, it launched Presto ATM network, which began to operate in all of their stores. “It’s been our pleasure”, was the slogan they used in 2005 to celebrate their anniversary. It announced a deal about buying 49 Florida stores from Albertsons on June 9, 2008 and completed this deal by on September 9, 2008. Publix became one among the only five U.S, grocery retailers operate 1000 stores by opening their 100th one on February 5, 2009, in St. Augustine, Florida. Currently, Todd Jones, a 36-year, Publix veteran whose first job was as a Front Service Clerk is the first president of the company who is not from the founder’s family.
Publix is one among world’s largest retailers growing to new heights every year. Their stock price was $40.15 per share on November 1, 2016. The stock in the company is only available for purchase by their eligible active employees and non-employee members of its Board of Directors. Definitely, its employees and board members know better reasons than anyone why Publix stocks will yield good returns to them.
Publix Properties For Sale Across the United States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming