Hy-Vee is setting its sights on expansion outside the Midwest. The company plans to build more than 20 stores in Indiana, Kentucky, Tennessee and Alabama over the next few years, according to a report in the Des Moines Register.
The report citied a video presentation by CEO Randy Edeker posted to the company’s intranet.
By 2023, Hy-Vee plans to operate a distribution center in the Nashville, Tenn. area along with seven stores, including two in Nashville, and one store each in Knoxville and Memphis, Tennessee; Louisville, Kentucky; Huntsville, Alabama; and Indianapolis, Edeker said.
"This is the growth for the next 25 years for Hy-Vee in this territory,” Edeker said on the video, according to the report. “If we can build out 50 stores in this market, we estimate that is $6 billion [in sales]. But overnight we’re going to go from a regional company to a national company.”
A Hy-Vee spokesperson confirmed the report about the expansion. No additional details were provided at this time.