EmployeeOwnership News & Analysis
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Publix (PUSH) Reaches $60 Billion Revenue Mark for Employees
Publix (PUSH) has grown to become one of the largest grocery chains in the U.S., with over 1,400 locations and $60 billion in revenue. The company's employee ownership model has led to approximately 80% of it being owned by current and former employees. Notably, an employee who started working after high school sold over $1 million in stock upon early retirement in 2016. This ownership structure and growth could be significant for investors trying to assess company performance and employee engagement strategies.
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Softstar Shoes (SS) Sold to Employees Amid US Business Transitions
Employee ownership at Softstar Shoes began in January when the 30-strong workforce acquired the business from former CEO Tricia Salcido, who is planning her retirement at age 56. A report indicates that around 600 US firms are now being sold to employees annually, with funds for such transactions rising to $865 million in 2024 from $500 million in 2023. This trend reflects a significant shift as about six million American small and medium-sized businesses owned by baby boomers are expected to transition by 2035. Studies suggest employee-owned companies are often more productive and less likely to downsize.
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