Company-owned Publix stores now exceed 30% of the total

The Lakeland-based grocer plans to invest more than $1 billion this year in its property portfolio, including shopping centers that Publix anchors

Miami /
Mar.March 04, 2018 10:30 AM

Publix store in Greenacres (Credit: Palm Beach Post)

Publix Super Markets now owns nearly a third of its grocery stores and plans to invest more than $1 billion this year in its property portfolio.

The Lakeland-based grocer owned 31.8 percent of its stores last year, up from 29.1 percent in 2016, according to the company’s 2017 annual report.

Publix has increased the percentage of company-owned stores it operates for 11 consecutive years, starting in 2007, when the company owned 11.2 percent of its stores and leased the rest.

Publix also disclosed in its 2017 annual report that it plans to invest $1.53 billion this year to remodel existing stores, build new ones, acquire shopping centers where its stores are anchor tenants, and improve store technology.

The company also disclosed in its 2017 annual report that its sales last year totaled $34.6 billion, its profit margin was 6.6 percent, and it raised the pay of its 193,000 employees by an unspecified amount.

Publix also reported that the corporate tax cut signed into law by President Trump in December reduced the company’s 2017 taxes by $224 million. [Palm Beach Post]  – Mike Seemuth


Related Articles

arrow_forward_ios
Jorge and Jon Paul Perez with a rendering of the project (Getty, Related Group)
Related wins approval for another Wynwood mixed-use multifamily project
Related wins approval for another Wynwood mixed-use multifamily project
Cobblestone Commons at 8767 Boynton Beach Boulevard (Google Maps)
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
The Shoppes of Oakland Forest (Rich Commercial Group)
Shopping center in Oakland Park sells for $11M
Shopping center in Oakland Park sells for $11M
BridgeInvest's Alex Horn and Rieber Developments' Bernardo Rieber with a rendering of the project 
Rieber lands $15M loan for Aventura mixed-use project
Rieber lands $15M loan for Aventura mixed-use project
Arnaldo Bomnin and 8525 South Dixie Highway (Google Maps)
Bomnin Automotive pays $7M for former Pinecrest Mitsubishi dealership
Bomnin Automotive pays $7M for former Pinecrest Mitsubishi dealership
21046 Commercial Trail, Boca Raton (Google Maps, iStock)
New bowling alley lease couldn’t keep South Florida’s retail market out of the gutter in Q4
New bowling alley lease couldn’t keep South Florida’s retail market out of the gutter in Q4
2195 Northwest 103rd Street (Google Maps, iStock)
Four South Florida gas stations sell for $15M
Four South Florida gas stations sell for $15M
Nautical Ventures Marine CEO Roger Moore and Holman Automotive CEO Brian Bates with 1400 South Federal Highway (Google Maps)
Holman sells former Fort Lauderdale BMW dealership for $6M
Holman sells former Fort Lauderdale BMW dealership for $6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...