What business structure is Publix?
Publix Super Markets, Inc., commonly known as Publix, is an employee-owned American supermarket chain headquartered in Lakeland, Florida, Founded in 1930 by George W. Jenkins, Publix is a private corporation that is wholly owned by present and past employees and members of the Jenkins family.
Does Publix trade on the stock market?
As an employee-owned company, Publix doesn't publicly trade its shares, which are available for sale only to associates and board members. Publix's stock price stood at $68.80 per share as of March 1, when the company reported fiscal 2021 fourth-quarter results.
Who owns Publix food chain?
2020 America's Richest Families Net Worth Publix is the largest employee-owned company in the U.S.; employees own an estimated 80% and Jenkins family members own the rest. George Jenkins (d. 1996) founded the company in 1930 after he left now-rival Piggly Wiggly. Publix is chaired by William E.
Do Publix employees own the company?
Publix is owned by employees, board members, and the founding Jenkins family. Its shares do not trade publicly. The private company valued itself in November at about $45 billion in a quarterly assessment of its shares.
Who owns the most Publix stock?
The multi-generational Jenkins family owns about 20% of Publix, but employees are the controlling shareholders, with an 80% stake. All staffers who have put in 1,000 work hours and a year of employment receive an additional 8.5% of their total pay in the form of Publix stock.
How much does the Publix CEO make?
Compensation by CompanyName And TitleTotal CompensationRandall T. Jones Sr. Chief Executive OfficerTotal Compensation $3,433,824 View detailsDavid E. Bornmann Senior Vice PresidentTotal Compensation $1,032,221 View detailsKevin S. Murphy PresidentTotal Compensation $1,954,209 View details2 more rows
Is working at Publix good?
Publix receives top scores for customer satisfaction based on national surveys such as the Temkin Experience Ratings. We're not only proud of the relationships we build with customers; we're proud to be the kind of people drawn to careers that allow us to serve others.
Why is Publix so successful?
Publix's key to success is its devout focus on its core value of customer service. The company has been built around providing a great shopping experience to its customers, with quality and price as its secondary and tertiary objectives. The grocery store chain traces its roots back to 1930 when founder George W.
Who makes Publix milk?
Milk is supplied to 320 of the more than 900 Publix stores, other product lines are produced for all the stores. The Lakeland plant produces 40% of all manufacturing volume for the dairy operation, with the plants in Deerfield Beach, Fla.
What is Publix employee turnover rate?
5%Here's perhaps the most astounding stat of all: Publix's annual voluntary turnover rate is a minuscule 5%—which makes a mockery of the retail industry average of 65%. All that success has earned Publix at least one extremely high-profile admirer.
How long does it take to get promoted at Publix?
Average experience of associates promoted to these positions is about three years as an assistant grocery manager. Store manager in less than two years of experience as an assistant store manager. Average experience for this position is about five-and-a-half years as assistant store manager.
How much stock does Publix give employees?
Just as the word "gift" implies, employees are given shares of Publix common stock at no cost, accumulating, on the average, about 3.5 shares per week, according to one former employee. "It's roughly eight percent of your annual pay," the employee said.
History
- Early history
George Jenkins previously worked as a stock clerk and a manager at Piggly Wiggly from 1926 to 1930. When Jenkins decided to open his own grocery store, he adopted the name "Publix" from a struggling New York-based movie theater company (with 19 opulently decorated movie houses i… - Florida expansion
By 1959, Publix was the dominant supermarket chain in Central Florida, and began expansion to South Florida, opening a store in Miami and acquiring six stores from Grand Union. In 1963, the company built a distribution center in Miami, and began providing deli services. In 1970, sales su…
Stores
- Each store provides products and services in its grocery, deli, bakery, produce, floral, meat, and seafood departments. Some stores have valet parking, cafés, sushi bars, pharmacy departments, and/or a liquor store. The submarine sandwichessold at Publix's Deli are often referred to as "Pub subs". The customer service counter also provides check cashing, money orders, Western Unio…
Working Environment
- The company, founded in 1930, has never had a layoff. In 1995 Publix was sued "for sex discrimination in job assignments, promotions and allocation of hours" and settled for $81.5 million in 1997. Publix had claimed that the suit was simply an effort by the United Food and Commercial Workersto unionize the company, but the judge ruled in favor of the plaintiffs and re…
Political Giving
- Publix Political giving is coordinated through their Political Action Committee(PAC), which the company leverages to promote business interests. As with other large corporations, the company operates independently of the Jenkins family as a separate entity. The ideas and contributions of these members does not reflect the views or business operations of Publix Super Markets. Acco…
Stock
- Publix stock is privately owned and restricted: it can only be purchased by current employees or board members during designated offering periods, and cannot be sold to anyone without first being offered back to Publix for repurchase. Stock was made available to associates in 1959, originally priced at $10.00 per share.Employees can acquire stock through three programs: an E…
Locations
- Distribution centers
Distribution centers are located in: 1. Alabama 1.1. McCalla– non-perishables 2. Florida 2.1. Boynton Beach– grocery 2.2. Deerfield Beach– perishables 2.3. Jacksonville– dairy, frozen food, grocery, meat, produce 2.4. Lakeland– frozen food, grocery, meat, dairy, produce, general merch… - Manufacturing facilities
Manufacturing facilities are located in: 1. Florida 1.1. Deerfield Beach– dairy, fresh foods 1.2. Jacksonville– fresh foods 1.3. Lakeland– bakery, dairy, deli, fresh foods, fresh kitchen, printing services 2. Georgia 2.1. Dacula– dairy, fresh foods 2.2. Atlanta– bakery
Legal Disputes
- In 2003, Publix supported a successful bill that prevents owners from suing if their land is polluted by dry cleaning chemicals dumped on an adjacent property, if the adjacent property owners are on a state clean-up list. Publix lost a 2001 lawsuit filed by an owner whose property had been contaminated in this manner. On October 4, 2005, Publix sued Visa and MasterCard, citing unfai…
See Also
External Links
- Official website
- Publix stockholder information
- Publix companies grouped at OpenCorporates