Stewart’s Shops is now one of Albany, N.Y.’s largest private-sector employers, and it is only growing.
Malta, N.Y.-based family- and employee-owned c-store chain, Stewart’s Shops Corp., has announced plans for significant expansion in the coming year.
According to a report from Albany Business Review, these expansion plans include the intention to spend more than $30 million on constructing new stores, renovating current locations and equipping more locations to serve a larger selection of pizza, soups, salads and other food to go items.
The chain currently operates 332 stores, and produces its own milk and ice cream at its Greenfield, N.Y. dairy plant. According to the Albany Business Review, the company is one of the largest private-sector employers in the region, generating more than $1.6 billion in annual revenue, and employing more than 4,500.
Stewart’s made it through the recession by investing approximately $15 million yearly in remodeling and expansion efforts. During this period, the company found itself renovating one store per week for two consecutive years. In 2015, Stewart’s invested $30 million in upgrading 20 stores. The company is expected to invest more than $30 million in capital improvements in 2016.
In the spring of 2015, Stewarts purchased a convenience store on Crescent Road in Clifton Park for $1.3 million. That property is just a few doors away from an existing Stewart’s store.
In December, the chain acquired the Wever Mobil gas station and car wash on Guideboard Road in Halfmoon, N.Y., which is only a block away from an existing Stewart’s location. The company plans to demolish the existing buildings on the new property in order to construct a new store, while seeking a buyer for the current store. The transaction was made for $950,000.