Smart & Final Celebrates One Year Anniversary of IPO on the New York Stock Exchange
NEW YORK, Sept. 22, 2015 /PRNewswire/ -- Smart & Final Stores, Inc. ("Smart & Final" or the "Company") (NYSE: SFS), a value and quality-oriented food and everyday staples retailer that serves household and business customers, today marks the one-year anniversary of its listing as a public company on the New York Stock Exchange (the "NYSE"). This one-year milestone celebrates "Project 100", the continuation of the Company's accelerated expansion plan focused on its "Extra!" and Cash & Carry format stores. Project 100 is Smart & Final's growth and community plan that calls for opening 100 new stores, investment in 100 new neighborhood projects and 100 teams of new store employees.
Chief Executive Officer Dave Hirz will be joined this morning by Smart & Final senior management and members of the board of directors to ring The Opening Bell® at the NYSE in New York City.
"We have achieved strong financial growth during our first year as a public company, and have accelerated the expansion of our "Extra!" store format. Building upon our established "Extra!" and Cash & Carry footprint throughout the Western United States, we are now focused on executing our Project 100 plan, which includes opening over 100 "Extra!" and Cash & Carry format stores in the next four years," said Hirz. "We believe our consistent focus on value, quality and convenience resonates powerfully with our business and household consumers, and gives us an edge in a competitive market."
Currently, Smart & Final operates 266 stores in California, Oregon, Washington, Arizona, Nevada, and Idaho. As part of Project 100, the Company plans to open 100 new stores, in-line with the Company's 10% annual unit growth plan, and to hire at least 5,000 new employees to staff those stores over the next four years. Additionally, with every store Smart & Final opens, the Company will continue to give back to the communities in which it operates via philanthropic donations and partnerships, solidifying its commitment to being a good neighborhood partner.
For more than 140 years, the Company has delivered quality products with exceptional value and shopping convenience to both household and business customers. Smart & Final's roots can be traced back to 1871 when the "Hellman, Haas & Co.," was founded in the city of Los Angeles. In 1915, J.S. Smart and H.D. Final purchased the store and changed the name to Smart & Final. The Company represents one of the longest, continuously operated food retailers in the United States and has become a trusted, community brand in the markets it serves.
In its first year as a public company, Smart & Final has continued to launch several product and marketing initiatives to meet the ever-changing needs of its customers, from expanding its popular private label First Street and organic private label Sun Harvest to expanding natural produce selection in its stores and partnering with Instacart and Google Shopping for in-home and office delivery service.
Garvis Toler, NYSE's Global Head of Capital Markets, added, "We are excited to welcome Smart & Final back to the New York Stock Exchange on the one-year anniversary of their initial public offering. Smart & Final is a valued member of the NYSE family of listed companies, and we look forward to a long and fruitful partnership with the company."
About Smart & Final
Smart & Final Stores, Inc. (NYSE: SFS), is a value and quality -oriented food and everyday staples retailer that serves household and business customers. The Company is headquartered in Commerce (near Los Angeles), California, where it was founded over 140 years ago. As of September 22, 2015, the Company operated 266 grocery and foodservice stores under the "Smart & Final", "Smart & Final Extra!" and "Cash & Carry Smart Foodservice" banners in California, Oregon, Washington, Arizona, Nevada, and Idaho, with an additional 16 stores in northern Mexico operated through a joint venture.
Certain statements contained in this release that are not historical information contain forward-looking statements. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. Further, certain forward-looking statements are based on assumptions of future events which may not prove to be accurate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or, in each case, their negative, or other variations or comparable terminology. The Company derives many of its forward-looking statements from its operating budgets and forecasts, which are based upon many detailed assumptions. While the Company believes that its assumptions are reasonable, it is difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. These factors are discussed in the "Risk Factors," "Special Note Concerning Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Business" sections and elsewhere in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.
You should keep in mind that any forward-looking statement made by the Company herein, or elsewhere, speaks only as of the date on which made. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
SOURCE Smart & Final Stores, Inc.