Hy-Vee CEO Randy Edeker on Expansion of Grocery Stores and Wahlburgers
MIDWEST, USA - Hy-Vee is expanding both its store reach and its newly-formed partnership with Wahlburgers. Coming off the announcement late last year that the retailer would halt expansion efforts, stopping the opening of five new stores and a 1-million-square-foot distribution center, the company is now singing a different tune with plans to expand next year and more.
“There are five stores in the Twin Cities that we’re considering for next year’s budget,” Randy Edeker, Chief Executive Officer for Hy-Vee, said in a recent Star Tribune article.
In an effort to expand in the future, the company is looking to the success stories that Aldi, Fresh Thyme, and Trader Joe’s are all enjoying with their stores that are between 30,000 and 40,000 square feet. Hy-Vee, as a result, is gaining inspiration and scaling back in size.
“You’ll see us come down off 95,000-square-feet stores and build 65,000- to 80,000-square-feet stores,” he said. “We’re designing the stores with more e-commerce and digital shopping in mind.”
To cut down on square footage, the company will likely take out designated smoothie spaces and under- or average-performing deli stations.
In addition to the store expansion goals that the company has set for itself, it has also welcomed a new venture with Mark Wahlberg and his family: Wahlburgers. The grocery retailer’s first location in partnership with Wahlburgers made its debut, but the company says it expects another 25 to open their doors by the end of 2021, all located in the Midwestern states where Hy-Vee locations can be found, though none are situated within the retail chain itself.
How will Hy-Vee’s partnership with Wahlburgers increase consumers’ interest in the retailer’s offerings, and, as a result of the burgeoning alignment, what will the new locations look like to push more boundaries? AndNowUKnow will keep you updated with the latest.