NEW YORK, NY - Yesterday was Smart & Final’s one year anniversary with the public. Going public that is. And what other way to celebrate than with 100 more stores?
"We have achieved strong financial growth during our first year as a public company, and have accelerated the expansion of our 'Extra!' store format,” Chief Executive Officer Dave Hirz said, according to a press release. “Building upon our established 'Extra!' and Cash & Carry footprint throughout the Western United States, we are now focused on executing our Project 100 plan, which includes opening over 100 'Extra!' and Cash & Carry format stores in the next four years. We believe our consistent focus on value, quality and convenience resonates powerfully with our business and household consumers, and gives us an edge in a competitive market."
“Project 100” is the plan that emphasizes what this expansion will mean for the chain and the communities it enters - 100 new stores in 100 new places with 100 new teams, all in line with its 10 percent annual unit growth plan.
According to the company, this will also mean about 5,000 new jobs, minimum, in the markets which they enter.
Marking the one year anniversary of its IPO, Smart & Final’s senior management and members of the Board of Directors joined Hirz to ring The Opening Bell® at the NYSE in New York City yesterday morning.
"We are excited to welcome Smart & Final back to the New York Stock Exchange on the one-year anniversary of their initial public offering,” Garvis Toler, NYSE's Global Head of Capital Markets, added. “Smart & Final is a valued member of the NYSE family of listed companies, and we look forward to a long and fruitful partnership with the company."
Smart & Final continued to launch several product and marketing initiatives throughout its first year of going public, according to the company, including:
- The expansion of its natural produce selection in its stores
- The expansion of its private label First Street
- The expansion of its organic private label Sun Harvest
The chain also delved into in-home and office delivery, partnering with Instacart and Google Shopping.
AndNowUKnow will continue to report on this developing story as well as all retail occurances that continue to influence produce operations.
