USA: Stewart’s Shop lays down expansion plans for 2022
After what the retailer called a “busy” 2021, this year will focus on rebuilding and opening even more stores.
The convenience store chain Stewart’s Shop has revealed its plans for 2022 after a “busy” 2021, as the company described it in a year-in-review video. The retailer aims to open new stores as well as rebuild older ones throughout its marketing territory.
“We are a bit of a broken record and still targeting $50 million worth of projects. We would love to exceed that. But we’re still seeing supply chain and labor shortages affecting the availability of everything from labor to trusses to wire. Lead times are way out there, and I am not naïve enough to think that isn’t going to affect our construction schedule,” stated Chad Kiesow, Vice President of Facilities for Stewat’s Shop in an interview with the Albany Business Review.
The company invested approximately $50 million in a total of 18 projects during 2021, which included five new shops and 13 rebuilt locations. Its expansion included the purchase of six Blueox c-stores in June and the acquisition of the Red-Kap chain of stores as of late 2020.
This year, Stewart’s Shop is aiming to invest a similar amount in the opening of 20 new convenience stores. 13 of them are rebuild projects while the remaining seven will be seven new-to-market shops throughout its marketing territory.
In addition, the brand will expand on its electric vehicle charging network, after adding New York Power Authority (NYPA) EVolve to its portfolio last year. Stewart’s plans include having more than 80 charging station positions at 16 stores by the end of 2022.
