Employee stock ownership , or employee share ownership , is where a company 's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Employee Share Purchase Plans are common, wherein deductions are made from an employee's salary to purchase shares over time. In Australia it is common to have all employee plans that provide employees with $ 1,000 worth of shares on a tax free basis. Such plans may be selective or all-employee plans. Selective plans are typically only made available to senior executives. All-employee plans offer participation to all employees (subject to certain qualifying conditions such as a minimum length of service).
62-657: Hy-Vee, Inc. ( / ˌ h aɪ ˈ v iː / ) is an employee-owned chain of supermarkets in the Midwestern and Southern United States, with more than 280 locations in Iowa , Illinois , Kansas , Minnesota , Missouri , Nebraska , South Dakota , Wisconsin , with stores planned in Indiana , Kentucky , Tennessee , and Alabama . Hy-Vee was founded in 1930 by Charles Hyde and David Vredenburg in Beaconsfield, Iowa , in
124-594: A chain made famous by the same-titled A&E reality series . Hy-Vee's largest store in the United States opened June 13, 2023, in Gretna, Nebraska (near Omaha ), with nearly 135,000 square feet (12,500 m) of retail space. Even larger stores of 150,000 square feet (14,000 m) are planned for Zionsville, Indiana , and Louisville, Kentucky ; the Zionsville store currently has no set opening date, while
186-558: A cigar room, a new design for the hot food area inspired by food halls, fitness equipment from Johnson Fitness & Wellness , redesigned wine and spirits section, DSW shoe department, and nail salon named The W Nail Bar. Also in the same month the chain opened a similar store in Eau Claire, Wisconsin . This location was the first opened in the state outside of the Madison area . In November 2021, Hy-Vee received several awards from
248-492: A co-operative legal entity) from employee ownership (where ownership is typically held as a block of shares on behalf of employees using an employee ownership trust, or company rules embed mechanisms for distributing shares to employees and ensuring they remain majority shareholders). Employee Share Ownership Plans (ESOPs) became widespread for a short period in the UK under the government of Margaret Thatcher , particularly following
310-654: A craft beer station, wine and spirits section, made-to-order meals, take-and-heat meals, meal kits, and a Starbucks with a drive-thru. Unlike other Hy-Vee locations, the convenience store was not open 24/7 ; in some markets, Hy-Vee Fast & Fresh was meant to compete with Walmart Neighborhood Market , a similar small-store concept launched in 1998. In 2019, Hy-Vee announced it would open Joe Fresh clothing sections in stores and replace its previous F&F clothing departments. On January 27, 2020, Hy-Vee agreed to acquire six former Shopko locations in Iowa that will re-open under
372-751: A family was $ 37,935. Males had a median income of $ 32,265 versus $ 21,981 for females. The per capita income for the city was $ 15,553. About 6.6% of families and 12.7% of the population were below the poverty line, including 14.5% of those under age 18 and 10.5% of those age 65 or over. The Chariton School District is the only school district in the county since 2008, when the Russell School District closed. There are two elementary schools, Columbus Elementary (K-2 grades) and Van Allen Elementary (3–5 grades); one middle school, Chariton Middle School (6–8 grades); and one high school, Chariton High School (9–12). The high school athletic teams are called
434-531: A female householder with no spouse or partner present and 21.1% had a male householder with no spouse or partner present. 42.9% of all households were non-families. 37.6% of all households were made up of individuals, 18.4% had someone living alone who was 65 years old or older. The median age in the city was 41.0 years. 24.8% of the residents were under the age of 20; 5.5% were between the ages of 20 and 24; 23.7% were from 25 and 44; 24.6% were from 45 and 64; and 21.5% were 65 years of age or older. The gender makeup of
496-466: A form of an employee benefit . Plans in public companies generally limit the total number or the percentage of the company's stock that may be acquired by employees under a plan. Compared with worker cooperatives or co-determination , employee share ownership may not confer any meaningful control or influence by employees in governing and managing the corporation. In the United States, private companies often use employee share ownership to maintain
558-504: A full selection of grocery items, a bakery section with a full range of fresh-baked items, a dollar section, a Wall of Value, ready-to-eat meal offerings, and other services. In 2018, the first Hy-Vee Fast & Fresh convenience store opened in Davenport, Iowa . It offered standard pantry and frozen grocery items alongside fresh produce, dairy, meat, and bakery departments. It also had a gas station, online pickup, wood-oven pizzas, sushi,
620-599: A half stake of a store in Kellerton, Iowa , the other half being owned by the General Supply Company. In 1930, Vredenburg and Hyde started a separate partnership from the General Supply Company, named Supply Stores, and opened their first store in Beaconsfield, Iowa . In 1932, The General Supply Company was dissolved because of the effects of the Great Depression . Vredenburg purchased most of
682-582: A new logo. In 1957, Hy-Vee opened its first in-store bakery at the Iowa City, Iowa , store. In 1960, the company became employee-owned by the Employees' Trust Fund. The slogan "Where There's a Helpful Smile in Every Aisle" was first used in a TV commercial in 1963. The company's name was officially changed to Hy-Vee Food Stores, Inc., in 1963. In 1969, Hy-Vee expanded into Minnesota after acquiring
SECTION 10
#1732780095300744-530: A redesigned Hy-Vee website offering online shopping for such items as holiday meals, floral arrangements, and catering selections; gift cards were added in 2006. Hy-Vee was selected as Progressive Grocer's Retailer of the Year in 2003. Drug Town stores were renamed Hy-Vee Drugstores in 2005. Hy-Vee celebrated its 75th anniversary in 2005 with the publication of a second company history book ( The History of Hy-Vee ). In 2007, Hy-Vee's first store, in Beaconsfield, Iowa ,
806-402: A significant degree of employee ownership, influence or control, but most public service mutuals identify themselves as social enterprises rather than employee owned. A worker cooperative is a cooperative owned and self-managed by its workers. It is a type of employee owned company that operates according to the international values of co-operation and adheres to an additional code, beyond
868-740: A small brick building known as the Beaconsfield Supply Store , which is listed on the National Register of Historic Places. The largest Hy-Vee stores are full-service supermarkets with bakeries , delicatessens , floral departments, dine-in and carryout food service, wine and spirits, pharmacies , salad bars, health clinics, HealthMarkets (natural and organic products) and coffee kiosks ( Caribou Coffee and Starbucks ). The company maintains fuel stations with convenience stores , fitness centers, and full-service restaurants at some of its properties, including Wahlburgers ,
930-539: A third distribution center in Nashville, their first outside of Iowa, which will service the seven new stores and southern Missouri. Hy-Vee had originally planned to build a third distribution center in Austin, Minnesota but put those plans on hold indefinitely. In December 2021, Hy-Vee expanded its online offering by introducing ship-to-home services. Customers are now able to purchase bulk grocery items directly from
992-564: Is a city in, and the county seat of, Lucas County, Iowa , United States. The population was 4,193 at the 2020 census . Lucas is the primary distribution center for and the former corporate headquarters of the Hy-Vee supermarket chain. Chariton was platted in 1850. Chariton was the name of a French trader. Designed by local architect William L. Perkins and listed on the National Register of Historic Places for its role in
1054-458: Is a majority employee-owned company. This might arise through an employee-buyout. This can be set up through an employee ownership trust . Employee-owned companies are totally or significantly owned (directly or indirectly) by their employees. Different forms of employee ownership, and the principles that underlie them, have contributed to the emergence of an international social enterprise movement. A public service mutual, by definition, has
1116-672: Is one of the largest in Hy-Vee's history. Potthoff said privately owned Strack & Van Til will become a subsidiary of Hy-Vee but will retain its logos, name, and branding. Having previously announced locations in Zionsville and Noblesville for Indiana expansion, Hy-Vee says those timelines for opening may now shift, but are still in the plans for expansion. "We plan to continue to build in these areas," Potthoff said. "Due to this acquisition, we are reviewing and finalizing our construction timeline for those locations." Employee-owned corporation Most corporations use stock ownership plans as
1178-421: Is particularly common in the technology sector but also companies in other industries, such as Whole Foods Market , WinCo Foods , and Starbucks . In his 2020 presidential campaign, Bernie Sanders proposed that 20% of stocks in corporations with over $ 100 million in annual revenue be owned by the corporation's workers. Chariton, Iowa Chariton ( / ˈ ʃ ɛər ɪ t ən / SHAIR -it-ən )
1240-591: Is the highest point of elevation in the whole town. According to the Köppen Climate Classification system, Chariton has a hot-summer humid continental climate , abbreviated "Dfa" on climate maps. As of the census of 2020, there were 4,193 people, 1,834 households, and 1,048 families residing in the city. The population density was 1,112.7 inhabitants per square mile (429.6/km ). There were 2,072 housing units at an average density of 549.8 per square mile (212.3/km ). The racial makeup of
1302-581: Is the largest in the chain by square footage. It is the fourth location in Wisconsin. In December 2021, Hy-Vee launched a new subsidiary, RedBox Rx, which provides telehealth online pharmacy services and ships prescriptions directly to patients' homes. In December 2021, Hy-Vee announced it would close four locations. Two locations, one in Cedar Rapids, Iowa and one in Moline, Illinois (acquired in
SECTION 20
#17327800953001364-575: The Iowa Barnstormers . At the turn of the millennium, Hy-Vee increased its focus on customers' healthy lifestyles. HealthMarket private-label products were introduced in 2001. The company also began its initiative to provide customers with the services of corporate and in-store dietitians. Stores began offering an expanded line of ethnic foods to the Midwest's increasingly diverse population. Online shopping capabilities expanded in 2005, with
1426-522: The Transport Act 1985 , which deregulated and then privatised bus services. Councils seeking to protect workers ensured that employees accessed shares as privatisation took place, but employee owners soon lost their shares as they were bought up and bus companies were taken over. The disappearance of stock plans was dramatic. In the United States, there is a widespread practice of employee stock ownership. It began with industrial companies and today
1488-669: The 2000s as part of the Eagle Food Center bankruptcy) will be closed permanently. A store in Kansas City, Missouri will be converted into a Wall to Wall Wine and Spirits location, and another in Sioux Falls, South Dakota will be renovated into a non-retail bakery and pharmacy fulfillment location. In December 2021, Hy-Vee announced plans to expand into four new states, with plans to open at least 21 new stores by 2025 with seven of these 21 to open no later than 2023, in
1550-523: The CEO role. Randy Edeker will remain chairman of the board. On April 17, 2024, Hy-Vee announced the acquisition of Strack & Van Til stores of Highland, Indiana, adding 22 locations in Northwest Indiana. The acquisition also included the single Town & Country location under Strack & Van Til's ownership. Hy-Vee did not reveal the price, but spokesperson Tina Potthoff said the purchase
1612-947: The Des Moines metro that re-opened under the Hy-Vee Fast & Fresh Express brand on March 20, 2020. In August 2021, Hy-Vee announced a new standalone liquor store named Wall to Wall Wine and Spirits, with plans to open four stores in West Des Moines, Iowa , Papillion, Nebraska , Omaha, Nebraska , and Lincoln, Nebraska . In September 2021, Hy-Vee opened a 92,989-square-foot flagship store in Grimes, Iowa . The "smart store" contains new technology for Hy-Vee, including scan-and-go shopping, salad-making robot vending machines, digital shelf labels, and self-serve kiosks that allow customers to order bakery items, hot food, or fitness equipment. The store also has experimental ideas including
1674-467: The Dollar Fresh brand by late summer. On February 10, 2020, Hy-Vee grocery stores ended 24-hour service at most locations. Most of the 24-hour stores are closed between midnight and 5 a.m., though hours vary by location. The stores still have stock crews working overnight, but the stores are not open to the public. On February 19, 2020, Hy-Vee acquired four QuikTrip convenience store locations in
1736-645: The General Supply Company, an RLDS Church -owned company based in Lamoni, Iowa . In 1921, Charles Hyde started working for the General Supply Company's store in Woodbine, Iowa , which was operated by Vredenburg & Lewis. In 1922, the General Supply Company was formally incorporated. Vredenburg was president and Hyde was a member of the board of directors. In 1924, Hyde left the General Supply Company and started his store in Cameron, Missouri . In 1927, Hyde purchased
1798-540: The Hy-Vee Deals website, and a pet specific website (Petship) was also launched. In February 2022, Hy-Vee opened its long-awaited second Springfield, Missouri store. In March 2022, Hy-Vee announced a new location in Spring Hill, Tennessee , its first location in the state. On July 27, 2022, the company announced that Randy Edeker woule step down from his current position as CEO, and Aaron Wiese would assume
1860-596: The Hy-Vee Market Grille. In 2015, Hy-Vee brought online shopping to all stores with the introduction of its new website, Hy-Vee Aisles Online. The company's loyalty program adopted Hy-Vee Fuel Saver + Perks branding. In September 2015, Hy-Vee opened its first stores in the Minneapolis–Saint Paul metropolitan area. In 2016, Hy-Vee began opening clothing boutiques featuring Tesco 's F&F brand in select larger locations. In 2017, Hy-Vee became
1922-516: The Louisville location is expected to open in 2023. Hy-Vee's longtime advertising slogan , "Where there's a helpful smile in every aisle," was adopted for the chain's first television commercial in 1963. In the 1990s, the slogan became a jingle with music by Annie Meacham and James Poulsen. Hy-Vee is known as the "Pride of Des Moines". Starting in 1917, Vredenburg & Lewis, David Vredenburg's previous partnership, operated stores as part of
Hy-Vee - Misplaced Pages Continue
1984-713: The Swanson Stores chain based in Cherokee, Iowa . In 1969, Hy-Vee opened its first Drug Town, a pharmacy separate from a regular store, in Cedar Rapids, Iowa . At the end of 1969, Hy-Vee had 66 stores. Hy-Vee continued expanding during the 1970s and 1980s, opening stores in South Dakota (1975), Nebraska (1977), Illinois (1979), and Kansas (1988). In 1975, Hy-Vee's 100th store, which was also its first to use electronic cash registers , opened in Keokuk, Iowa . By
2046-568: The Technology Association of Iowa at their annual Prometheus Awards ceremony. Hy-Vee won the following awards: CEO of the Year, Creative Technology Solution of the Year, and Software Development Technology Company of the Year. In December 2021, Hy-Vee expressed interest in a former Shopko location in Ashwaubenon, Wisconsin by applying for liquor licenses. The nearly 125,000-square-foot store opened on November 8, 2022, and
2108-450: The U.S. and the UK there is a widespread practice of sharing this kind of ownership broadly with employees through plans in which participation is offered to all employees. The tax rules for employee share ownership vary widely from country to country. Only a few, most notably the U.S., the UK, and Ireland have significant tax laws to encourage broad-based employee share ownership. For example, in
2170-539: The U.S. there are specific rules for Employee Stock Ownership Plans (ESOPs). In the UK there are two all-employee tax advantaged plans that enable employees to acquire shares: the Share Incentive Plan and the Sharesave share option plan. Varieties of employee share ownership plan (including associated cash based incentive plans) include: Direct purchase plans simply allow employees to buy shares in
2232-405: The average family size was 2.92. Age spread: 24.6% under the age of 18, 7.5% from 18 to 24, 24.8% from 25 to 44, 20.4% from 45 to 64, and 22.6% who were 65 years of age or older. The median age was 40 years. For every 100 females, there were 90.2 males. For every 100 females age 18 and over, there were 81.8 males. The median income for a household in the city was $ 27,844, and the median income for
2294-538: The city was 48.8% male and 51.2% female. As of the census of 2010, there were 4,321 people, 1,861 households, and 1,109 families living in the city. The population density was 1,131.2 inhabitants per square mile (436.8/km ). There were 2,114 housing units at an average density of 553.4 per square mile (213.7/km ). The racial makeup of the city was 98.7% White , 0.2% African American , 0.2% Asian , 0.1% Pacific Islander , 0.2% from other races , and 0.6% from two or more races. Hispanic or Latino of any race were 1.2% of
2356-435: The city was 93.1% White , 0.4% Black or African American , 0.1% Native American , 0.5% Asian , 0.0% Pacific Islander , 2.0% from other races and 3.9% from two or more races. Hispanic or Latino persons of any race comprised 3.7% of the population. Of the 1,834 households, 26.8% of which had children under the age of 18 living with them, 42.9% were married couples living together, 6.4% were cohabitating couples, 29.6% had
2418-401: The city. The population density was 1,238.2 inhabitants per square mile (478.1/km ). There were 2,155 housing units at an average density of 583.5 per square mile (225.3/km ). The racial makeup of the city was 98.88% White , 0.15% African American , 0.09% Native American , 0.15% Asian , 0.26% from other races , and 0.46% from two or more races. Hispanic or Latino of any race were 0.87% of
2480-451: The company creates, with limited exceptions in various countries. Restricted stock and its close relative restricted stock units give employees the right to acquire or receive shares, by gift or purchase, once certain restrictions, such as working a certain number of years or meeting a performance target, are met. Phantom stock pays a future cash bonus equal to the value of a certain number of shares. Stock appreciation rights provide
2542-421: The company with their own money. In several countries, there are special tax-qualified plans that allow employees to buy stock either at a discount or with matching shares from the company. For instance, in the U.S., employee stock purchase plans enable employees to put aside after-tax pay over some period of time (typically 6–12 months) then use the accumulated funds to buy shares at up to a 15% discount at either
Hy-Vee - Misplaced Pages Continue
2604-559: The company. Employee ownership can be seen as a business model in its own right, in contrast to employee share ownership which may only provide selected employees with shares in their company and an insignificant overall shareholding. In the UK organisations such as the Employee Ownership Association (EOA), Scottish Enterprise , Wales Co-operative Centre and Co-operatives UK play an active role in promoting employee ownership. An employee controlled company
2666-709: The core international principles, focused on democracy and participation in the workplace. The most celebrated (and studied) case of a group of companies based wholly on co-operative principles is the Spanish Mondragon Cooperative Corporation . Spanish law, however, requires that members of the Mondragon Corporation are registered as self-employed and are not employees. This further differentiates this type of co-operative ownership (in which self-employed owner-members each have one voting share, or shares are controlled by
2728-670: The development of Chariton as a county seat, the Hotel Charitone is listed by the Iowa Historic Preservation Alliance as one of the most endangered sites in Iowa. The hotel is currently undergoing restoration with the majority of the hotel being converted into apartments. According to the United States Census Bureau , the city has a total area of 3.82 square miles (9.89 km ), all land. The Lucas County Courthouse
2790-552: The employee, enable the employee to purchase stock, which may be at a discount, or grant employees stock options. Shares allocated to employees may have a holding period before the employee takes ownership of the shares (known as vesting). The vesting of shares and the exercise of a stock option may be subject to individual or business performance conditions. Various types of employee stock ownership plans are common in most industrial and some developing countries. Executive plans are designed to recruit and reward senior or key employees. In
2852-719: The end of 1989, Hy-Vee had 172 stores in seven states. In 1994, Hy-Vee updated its logo to the one used today. In 1995, Hy-Vee moved its corporate headquarters from Chariton to West Des Moines, Iowa and shortened its name to Hy-Vee, Inc. The company's primary distribution center is still in Chariton; a second one is in Cherokee, Iowa. Famous NFL Quarterback Kurt Warner worked at a store in Cedar Falls, Iowa from 1994 to 1995, before going to play in Arena Football for
2914-700: The exclusive retailer in its service area for sports nutrition products marketed by Mark Wahlberg . This expanded into a deal-making Hy-Vee a franchisee for Wahlburgers restaurants; the first location under the deal opened in May 2018 at the Mall of America in Bloomington, Minnesota . Hy-Vee plans to operate 26 Wahlburgers locations, making it the largest franchisee of Wahlburgers. Hy-Vee's restaurant, Market Grille, added Wahlburgers items to its menu. Hy-Vee opened its first standalone HealthMarket store in 2018. Much like
2976-505: The following markets: Indianapolis , Louisville, Kentucky , Huntsville, Alabama , Knoxville, Tennessee , Nashville, Tennessee , and Memphis, Tennessee . Their primary competitors in the South will be Cincinnati, Ohio -based Kroger and Lakeland, Florida -based Publix . Hy-Vee specified it has no plans to open stores within H-E-B 's trade territory of Texas . Hy-Vee also plans to build
3038-621: The former General Supply Company's remaining stores and mill. Both Hyde and Vredenburg owned and operated other stores outside of their partnership. Hyde and Vredenburg's partnership was dissolved for approximately six months in 1935 after Iowa enacted the Chain Tax Act of 1935, a heavy tax against chain stores that was later declared unconstitutional. In 1938, Hyde & Vredenburg, Inc. was officially incorporated, with 15 stores in Iowa and Missouri . The incorporation consolidated all of Hyde's and Vredenburg's independently-owned stores with
3100-483: The in-store health department, also named HealthMarket, the standalone store focuses on health and wellness. The store is a smaller format than regular Hy-Vee stores and contains a pharmacy and attached Orangetheory Fitness . In 2018, the first-ever Hy-Vee Dollar Fresh store opened up in Osceola, Iowa . This concept offers customers in smaller communities a fresh, new product selection at low prices. Customers will find
3162-780: The late 2000s. In 2010, Hy-Vee expressed interest in building/opening a store in Joplin, Missouri , but the plans fell through when the developer would not negotiate traffic signal installation. Despite this, they still remained interested in the area, but according to a Facebook reply in 2016, they have yet to make plans for the Joplin area. In 2012, Hy-Vee introduced its loyalty program, Hy-Vee Fuel Saver, which allows customers to earn discounts on fuel at Casey's General Stores ; Shell ; PDQ / Kwik Trip , as well as Hy-Vee's own gas stations, by purchasing select items. Later that year, Hy-Vee began adding full-service restaurants to some stores, such as
SECTION 50
#17327800953003224-548: The political feasibility of the founding business plan and culture after the founders have left. Generally, the most senior employees own a majority stake and represent the leading voice in the company that employs them. They may be required to sell back the shares upon leaving the company. A number of countries have introduced tax advantaged share or share option plans to encourage employee share ownership. To facilitate employee stock ownership, companies may allocate their employees with stock , which may be at no upfront cost to
3286-439: The population. There were 1,861 households, of which 28.6% had children under the age of 18 living with them, 46.1% were married couples living together, 9.6% had a female householder with no husband present, 4.0% had a male householder with no wife present, and 40.4% were non-families. 35.9% of all households were made up of individuals, and 19.1% had someone living alone who was 65 years of age or older. The average household size
3348-406: The population. There were 1,936 households, out of which 27.4% had children under the age of 18 living with them, 49.1% were married couples living together, 9.6% had a female householder with no husband present, and 38.4% were non-families. 34.6% of all households were made up of individuals, and 18.7% had someone living alone who was 65 years of age or older. The average household size was 2.27 and
3410-448: The price at the time of purchase or the time when they started putting aside the money, whichever is lower. In the U.K., Share Incentive Plans allow employee purchases that can be matched directly by the company. Stock options give employees the right to buy a number of shares at a price fixed at grant for a defined number of years into the future. Options, and all the plans listed below, can be given to any employee under whatever rules
3472-399: The right to the increase in the value of a designated number of shares, usually paid in cash but occasionally settled in shares (this is called a "stock–settled" SAR). Employee ownership is a way of running a business that can work for different sized businesses in diverse sectors. Employee ownership requires employees to own a significant and meaningful stake in their company. The size of
3534-433: The shareholding must be significant. This is accepted as meaning where 25 percent or more of the ownership of the company is broadly held by all or most employees (or on their behalf by a trust ). There are three basic forms of employee ownership: In addition, the employees' stake must give employees a meaningful voice in the company's affairs by it underpinning organisational structures that promote employee engagement in
3596-507: The store in Madison, Wisconsin opened. In December 2009, Hy-Vee's fourth president, Randy Edeker, was selected to lead the company. Ric Jurgens retained the chairman and chief executive officer titles until 2012, when Edeker assumed those roles. In 2003, Milan, Illinois , based grocer Eagle Food Centers went out of business, and a few of their stores, such as the John Deere Road store in Moline, Illinois , became Hy-Vee stores in
3658-495: The stores they had in their partnership. The company was headquartered in Lamoni . The new company's management plan involved autonomy for store managers, setting the stage for eventual employee ownership. In 1945, Hyde & Vredenburg moved its corporate headquarters from Lamoni to Chariton, Iowa , after acquiring the Chariton Wholesale Company. The Supply Store name, with each town's name preceding it,
3720-434: Was 2.28 and the average family size was 2.99. The median age in the city was 42.1 years. 24.6% of residents were under the age of 18; 7.4% were between the ages of 18 and 24; 21.5% were from 25 to 44; 24.8% were from 45 to 64; and 21.9% were 65 years of age or older. The gender makeup of the city was 47.9% male and 52.1% female. As of the census of 2000, there were 4,573 people, 1,936 households, and 1,192 families living in
3782-467: Was placed on the National Register of Historic Places. In the fiscal year 2009, Hy-Vee had sales exceeding $ 6.3 billion; at the time, it was the second-largest employee-owned company in the United States and ranked by Forbes magazine the 48th-largest privately owned company in the country. More than 55,000 employees worked in the Hy-Vee family in 2009. By the end of 2009, there were 228 stores. In 2009, Hy-Vee moved into its eighth state of operations when
SECTION 60
#17327800953003844-530: Was still used on most stores until 1952. A few stores were named differently, such as Hyde's Service Store, Vredenburg's Grocery, and Hyde & Vredenburg, all changed in 1952. The Hy-Vee name, a portmanteau of Hyde and Vredenburg, was adopted in 1952 as the winning entry of an employee contest, with three employees submitting the name. The first store with the name opened in Fairfield, Iowa , in 1953. In 1956, Hy-Vee introduced its first private-label products and
#299700