Publix Super Market Inc., a food and drug retailer is one of the fastest growing employee-owned grocery store chains in the United States. The privately held company began 1930 in Winter Haven, Florida by George W. Jenkins. Since the company’s start, Publix has continued to grow and as of 2013, it ranked 108 on the Fortune 500 list. Likewise, Publix had revenue of 27,706.8 million and profits of 1,552.3 million. Publix’s current stock price is $30.00 per share and the number of shares of common stock outstanding as of Feb. 5, 2013 was 773, 972,000 (Publix.com). The company has stores located in Florida, Georgia, Alabama, Tennessee and South Carolina with the majority of the stores being located in its home state of Florida. In the 83 years in which Publix has been around, the company has made many changes and improvements to help build a good company reputation. Publix has been involved in equal opportunity and labor issues but the company’s commitment to employee, food and service quality, and their mission statement, has earned the company a good reputation and a competitive edge. How a company treats its employees is vital to its reputation. Over the years, Publix relationship with its employees has improved. Currently Publix describes its employee relationships as good. Publix employs approximately 163,000 full-time and part-time employees with the pay ranging from $8.00 for a cashier to 1.1 million for William E. Crenshaw, Chief Executive Officer. Additionally, employee benefits include employee stock ownership, annual holiday bonus, 401(k) retirement plan, tuition reimbursement, dental, vision, and health. The highest paid employees are board of directors, which comprises of nine people. Three of which are George W. Jenk... ... middle of paper ... ...h the stores are located in the south, the business is expanding its chain and opening stores in North Carolina in 2014. Publix has used its commitment to employees and consumers to differentiate itself in food retail market. Its biggest competitors are CVS, Kroger, Walgreens, and Wal-Mart. By staying committed to its mission and providing quality goods and service to customers, Publix has been able to maintain and build a good company reputation. In addition, the company has influenced the communities in which their stores are located by donating food to churches and to charities. Publix is involved with charities such as Food For All, Untied Way, Special Olympics, March of Dimes, and Children’s Miracle Network. With its high quality goods and service, and charitable donations, the company has earned a good reputation, especially in its hometown of Florida.
But Wal-Mart’s care for us goes beyond that simple relationship. As many of us have seen if we have been to a Wal-Mart, they hire people who normally would not be able to get a job. The company knows that by broadcasting itself as positive and helpful in nature it can increase its revenue and in turn increase the amount of assistance it provides to us the consumer. “In 2004 Wal-Mart donated over $170 million. More than 90 percent of these donations went to charities in the communities served by Wal-Mart stores.’ Even more heartfelt than this, Wal-Mart was the leader in goods based relief efforts for victims of hurricane Katrina. “Walmart’s response to the hurricane was lauded even by its critics: it donated more than $20 million worth of merchandise, including food for 100,000 meals, and it promised jobs for all of its displaced workers.” And the first supply truck to arrive at the superdome was a Wal-Mart truck.
Currently, the company owns and operates stores in 45 states. As of June 2014, Charlotte Russe operates 560 stores. Those 560 stores can be found in local malls/shopping
Today they serve over seventy-five million people an year and they have stores across America and Canada. Each of their stores is deeply customized to reflect the region it’s in and many of its locations having restaurants and ocean-themed bowling
In a market that is so dependent on nature and agriculture, it is reassuring to see a company that values the recompensing of materials back to the natural world. In order for Publix to remain successful, the company must carry the momentum that founder George “Mr.George” Jenkins originally started in 1930. The morals and philosophies that lie at the center of Publix Super Markets are integral to their success. Mr. George believed that customers and employees should be treated like family, and if their business model continues to accurately portray their core values, then they will continue to be successful. The question that looms over Publix is not “What can we change?” it is “What can we elaborate on?” Publix needs to use their positive image to expand into other communities. Publix is well-received in the public eye to the point that they are considered beneficial to a community. A marketing campaign that focused on bringing positive change to a struggling community through Publix and their charitable campaigns would create a want/need for the super market in new, untapped territory. Publix is lesser known in the Northern regions of the U.S., a nationwide marketing campaign would result in well-received
This company was founded by Tom Monaghan and his brother, James, in 1960, in Ypsilanti, Michigan, near Eastern Michigan University. By 1965, Tom Monaghan had purchased two additional small stores; he now had a total of three locations in the same county. Monaghan wanted the stores to share the same branding - thus the company logo originally had three dots, representing the three stores in 1965. Monaghan planned to add a new dot with the addition of every new store, but this idea quickly faded, as the company experienced rapid growth. It opened its first franchise location in 1967 and by 1978 the company expanded to 200 stores. Which
It has stores all over the world and is the largest smoothie chain in the southern hemisphere. It has over 350 stores internationally and is located on 5 continents - South America, Asia, Europe, Africa and Australia.
Despite the economically uncertainty Pret A Manger keeps on thriving in the U.S. fast food market. It’s growing fast, with huge success. Pret is proving to the world its a big threat in the sandwich industry. In 2011, U.S. sales up 40% from the year before, “the company’s overall profits grew by 37% in 2010, and annual workforce turnover is only 60%, compared to fast food industry averages of 300-400%.” (Smart Advantage)
The retail giant’s policies to offer lowest prices on the market is one that gives the company an upper hand since it can leverage on its massive economies of scale, but ultimately the low prices throw the local economy into turmoil. The many small businesses within the regions find it extremely difficult to compete with the low prices offered by the retail giant, Wal-Mart. According to Wolff-Mann (2016), the opening of Wal-Mart in North Carolina resulted in a 30% drop in the sales of a 44-year-old grocery store. Whenever the grocery store cut prices to retain its clients which were being lost to Wal-Mart, the giant retailer would always undercut or match the price. This unfair practice led to the close down of the store, while other businesses in the region succumbed to the stiff and unfair competition. Therefore, when Wal-Mart moves into a small town, things do not get better; the company introduces unsustainable economic models which makes thing worse within the
Publix has very high expectations when it comes to its employees. The work environment is very fast paced. One of the many pros about working at Publix is that it is a very stable job with a fantastic retirement/profit-sharing plan. It is also employee owned which is not common so employees will take pride in the fact they are all shareholders of the company. Because the employees are working somewhere that they all own, it creates a pleasant working environment, which is nice to see for customers.
Costco, a company also known for low prices, but more importantly, known for treating their workers better. Costco workers earn “70 percent more than the average full-time Wal-Mart worker and 40 percent more than the average Sam’s Club worker.” Costco stays true to their business model and their employees. As a veteran and doing research on how companies treat their employees, I saw that Costco has a really amazing recruitment program which is highly veteran friendly. Costco proves that you can have a highly profitable company while treating your employees right (giving them a slice of the
..., John E., Strickland, A.J. Thompson, Arthur “Whole Foods Market In 2006: Mission, Core Values, and Strategy”, Crafting & Executing Strategy 15th Ed., McGraw-Hill Irwin, 2007
Publix Super Markets have a fast developing and quickly motivated group of competitors. This allows for the market to have interesting trends and advances rapidly. According to the Food Marketing Institute’s website, in the year 2012 there were thirty-seven thousand and fifty-three companies in this trade which puts Publix very high on shopper’s lists. Being employee owned is one of the characteristics current workers contribute to the firm’s success. Focusing on the well-being and progress of their team members has given them a sought after job pool.
In our store, the majority of those we observed were buyers. People come to Publix with the intention to purchase rather than walk around and look at nice things, as one would expect others to do when in a clothing store. The conversion rate we observed was one hundred percent with every customer observed ending up buying at least one item. The store targets all demographics because everyone needs to eat and drink; they are two necessities of life. Publix caters to people from all walks of life, offering an ethnic aisle for those that may be looking for specific international items. Specifically, our store targets students and alumni at the University of Central Florida by selling UCF merchandise.
Publix strives to utilize the industry-wide differentiation strategy. Although Publix isn’t open 24/7 and does not have self-checkout (which also plays a role in its strategy), it focuses on providing the best customer service and facility presentation. The grocery store chain sets itself apart from the competition by keeping their stores as neat, organized and clean as possible; as well as Publix strives to provide the highest degree of customer service and accommodation as possible. Not only is the staff friendly and knowledgeable, they are encouraged to assist customers to the best of their abilities, they even help with carrying out the groceries to your car and assist in loading. As mentioned before,
There has been much criticism from employees such as working conditions and low wages. In some cases workers were denied overtime pay despite working off the clock and also taking a rest or lunch break were not given. It has said that Walmart also discriminates towards woman and especially towards the elderly and disabled. Walmart has paid