Marsh Supermarkets Makes Ambitious Growth Plans
Marsh Supermarkets, the 75-unit supermarket chain based in Indianapolis, is setting aggressive goals for new store openings and existing store remodelings. The 85 year-old grocery chain has ambitions of opening up to 13 new stores by the end of 2018, while updating as many as 52 stores in its existing fleet. According to CEO Tom O’Boyle, the company could even be in a position to acquire other grocery stores.
Marsh is a leading supermarket chain in its hometown. The company ranked number three in grocery market share in the metro Indianapolis core-based statistical area (CSBA) at the end of fiscal 2014 according to Chain Store Guide’s 2015 Grocery Industry Market Share Report.
INDIANAPOLIS-CARMEL-ANDERSON, IN CBSA
Counties Included: BOONE, BROWN, HAMILTON, HANCOCK, HENDRICKS, JOHNSON, MADISON, MARION, MORGAN, PUTNAM, SHELBY – IN
The store openings would be a reversal for Marsh, which has been mostly closing stores over the past ten years. However, opening ground-up new stores in the Indianapolis market could be difficult. While the Indianapolis CBSA ranks well above average in average household income, the overall population ranks 33rd among large metro areas. The market is already saturated with food retailers, while area grocery sales have remained relatively flat. Kroger has a strong presence in the market and is the leading operator. However, CEO O’Boyle sees an opportunity for growth at Marsh, even if he has not indicated where the potential new stores will be. The remodeling plan of a potential 70% of its store base is a strong indication the company sees immediate growth opportunity as well.