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Hy-Vee plans to expand into four new states

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WEST DES MOINES, Iowa — Midwestern grocer Hy-Vee Inc. sees growth opportunities to the south and east, according to a report in the Des Moines Register newspaper, which said the retailer plans to expand into four new states with more than 20 new stores by 2025.

Hy-VeeCiting a video statement by Hy-Vee chairman and chief executive officer Randy Edeker that the paper said was posted on Zipline, the retailer’s internal communications platform for employees, the Des Moines Register said Hy-Vee plans to build a new distribution center in Nashville, Tenn., that will support expansion into Tennessee, Kentucky, Indiana,  and Alabama over the next four years. The first stores are slated to open in 2023 in the Nashville metropolitan area, according to the report, which said those outlets will be followed by ones in Huntsville, Ala.,; Louisville, Ky; and Indianapolis, Ind.

“This is the growth for the next 25 years for Hy-Vee in this territory,” Edeker reportedly said on the video. “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. As we build our third DC  in the Nashville market you will see us turn more into a national presence.”

Hy-Vee currently operates more than 285 stores in eight Midwestern states: Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin. The company last expanded its operating territory to include a new state in 2009, when it moved into Wisconsin.

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