The Tampa Bay Business Journal reports that Sprouts Farmers Market has confirmed reports to enter the Florida market, saying in a regulatory filing that Florida is a "mid-term expansion market," as well as North and South Carolina, Louisiana, Mississippi and Arkansas. The story says that "at least three locations in Tampa Bay are in the works, in Valrico, Palm Harbor and South Tampa."
The story suggests that the plans mean "even more competition for Publix Super Markets Inc., both in its home state of Florida and in North Carolina, where Publix is heavily focused on growing its footprint."
And, the Business Journal writes that "Sprouts clearly has grocers like Publix in its crosshairs. The company said in the filing that its main competitor is the 'mainstream grocery store.' Half of its shoppers are 'coming from traditional grocers.' The company also said it appeals to a wide demographic base — middle and upper income households and baby boomers, Generation X and rising Millennials."
The story suggests that the plans mean "even more competition for Publix Super Markets Inc., both in its home state of Florida and in North Carolina, where Publix is heavily focused on growing its footprint."
And, the Business Journal writes that "Sprouts clearly has grocers like Publix in its crosshairs. The company said in the filing that its main competitor is the 'mainstream grocery store.' Half of its shoppers are 'coming from traditional grocers.' The company also said it appeals to a wide demographic base — middle and upper income households and baby boomers, Generation X and rising Millennials."
- KC's View:
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This makes perfect sense. Since traditional, mainstream supermarkets are doing their best to compete with the likes of Sprouts, it is only sensible that companies like Sprouts will try to compete more effectively with mainstream supermarket chains such as Publix.
Of course, it appears that more than a few companies have Publix in their crosshairs...
