Smart & Final to open 100-plus stores in four years
Smart & Final celebrated the one year anniversary of its public stock offering by telling investors a growth story about differentiation and new store expansion.
Smart & Final, a uniquely positioned operator of 266 warehouse style stores, has plans to open 100 new stores in the Western United States during the next four years. CEO Dave Hirz dropped that bombshell while he and other senior members of the company were at the New York Stock Exchange to ring the opening bell to commemorate the one year anniversary of the company’s listing.
"We have achieved strong financial growth during our first year as a public company, and have accelerated the expansion of our Extra! store format,” Hirz said. “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."
The company’s Extra! format is an larger footprint store than a traditional Smart & Final introduced six years ago with the additional space devoted to perishables and household goods. Extra! stores average about 26,000-sq.-ft. and stock about 14,500 items. The Cash & Carry stores average about 20,000-sq.-ft. and stock about 9,000 products geared toward restaurants, caterers and a wide range of other foodservice businesses.
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