Publix moves forward in Kentucky store development
Publix Super Markets Inc. has reached an important milestone in its expansion to the Bluegrass State.
The regional Southeast grocery retailer broke ground on its first store in Louisville, Kentucky, located in a shopping center being developed at the northwest corner of Terra Crossing Boulevard and Old Henry Road in Jefferson County. Kentucky will mark Publix’s eighth state of operation.
The Terra Crossing Shopping Center is expected to be completed in the fourth quarter of 2023. It will feature a 55,701-sq.-ft. store with a drive-thru Publix Pharmacy and an adjacent 3,200-sq.-ft. Publix Liquors offering beer, wine and spirits. This will be the first Publix Liquors located outside the state of Florida.
Publix has also signed a lease for a third Kentucky store, its first in the city of Lexington. The Fountains at Palomar, which will be located at the northwest corner of Man O’ War Boulevard and Harrodsburg Road, is expected to open in the fourth quarter of 2024. The location will feature a 55,701-sq.-ft. store with a drive-thru Publix Pharmacy and an adjacent 3,200-sq.-ft. Publix Liquors.
Publix initially signed the lease for the Louisville store in September 2021, which served as public notice of its intent to expand into Kentucky. The retailer followed this move by signing a lease to open another location in Kentucky in December 2021. That store will feature a 55,701-sq.-ft. Publix supermarket, including a drive-thru pharmacy and an adjacent 2,800-sq.-ft. Publix Liquors. It is expected to open in the first quarter of 2024.
“It’s an exciting day for Publix Super Markets as we break ground in our eighth state,” said Publix CEO Todd Jones. “When our founder, George Jenkins, opened the first Publix store, he wanted to create a better grocery store — one that kept associates and customers top of mind. More than 90 years later, we’ve kept true to our values, including supporting the communities in which we live and work. We look forward to sharing the Publix difference with Kentuckians.”
In August 2021, Publix opened the ninth location of its specialty natural and organic foods banner, GreenWise Market. The 26,000-sq.-ft. store is located in downtown Tampa, Fla. The retailer kept its up its sales momentum in the first quarter of fiscal 2022. Net earnings were $618 million, or $0.90 per share, for the quarter ended March 26, down from $1.5 billion, or $2.16 per share, in the year-ago period.
However, sales rose 13.5% to $13.2 billion, up from $11.7 billion in 2021. Comparable store sales increased 11.7%. Publix’s previously announced 5-for-1 stock split was effective as of the close of business April 14, 2022. (Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.)
Publix is the largest employee-owned company in the U.S., with more than 225,000 associates. The company operates approximately 1,300 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, and Virginia.