Jan. 8, 2013
Privately owned Trader Joe’s has been on an expansion binge over the past three years, continuing to build on its near-cult status by providing healthy, organic and locally produced food to shoppers on a budget. The company has expanded at a steady pace, opening some 40 new stores a year and moving well beyond its Southern California stronghold to the delight of awaiting customers in markets such as New York, Chicago, and Des Moines. The expansion comes as many retailers are eyeing Trader Joe’s success and experimenting with smaller-format stores that can slide easily into urban areas with lower rents. In 2010, the company pulled in an estimated $8 billion in sales, roughly on par with chief rival Whole Foods Market.
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