Meijer Planning $400 Million in Cap Ex for 2016
Midwest superstore retailer Meijer is planning to invest more than $400 million in new and remodeled stores this year across its six-state footprint.
The investment includes the construction of nine new Meijer supercenters and 32 different remodel projects. While Michigan, Indiana, Illinois, Kentucky and Wisconsin will each welcome new Meijer supercenters later this year, dozens of other Meijer stores have begun or will soon begin remodel projects.
“We are pleased to continue to grow and invest in the Midwest communities that have supported us for so long,” CEO Hank Meijer said. “By keeping prices low and ensuring a great shopping environment, we are keeping our promise to our customers that we will provide the best one-stop shopping solution.”
The opening of each new Meijer store represents as many as 300 full- and part-time jobs. Since 2010, Meijer has opened 36 new stores, and remodeled dozens of others.
New supercenters are expected to open this year in Owensboro, Ky.; Evansville and Indianapolis, Ind.; Round Lake Beach and Flossmoor, Ill.; Sturgis and Flat Rock, Mich.; and Sussex and Waukesha, Wis.
In addition, Meijer is aggressively remodeling stores in key markets such as Detroit, Indianapolis and Fort Wayne. Southeastern Michigan alone will see 12 Meijer supercenters remodeled this year, while Indianapolis will have three remodel projects. Two Meijer supercenters in Fort Wayne will be included as well. The Meijer store in Burton, Mich., one of the company’s oldest operating stores, will also be included in the project.
While the depth of the remodel varies based on several factors, these projects include a variety of specific store enhancements, including improved store layouts, expanded grocery, and health and beauty sections, as well as lighting, heating, refrigeration and parking lot improvements. Additionally, the introduction of newer technology in key areas during the remodel process will aim to create more energy-efficient stores.
“We will continue our process of slow, steady growth,” Meijer said. “This plan has allowed us to remain focused on our customers and team members, while growing our business and ensuring we continue to innovate in the marketplace.”
Progressive Grocer’s 2015 Retailer of the Year, Grand Rapids, Mich.-based Meijer operates 224 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin.