It has been an amazing year at Stewart’s Shops! Despite uncertainty in the world, Stewart’s continued to bring people together through our stability and growth by sharing with our partners and customers.
We were honored again to be recognized as a Times Union Top Workplace in 2023. Through our Employee Stock Ownership Program, or ESOP, Stewart’s partners own more than 40% of the business. Unlike a traditional 401k, the ESOP program is 100% company funded.
Did you know? Through Stewart’s ESOP, more than 175 employees, who we call partners, have become millionaires!
Stewart’s customers enjoyed several new and limited-edition products throughout the year from our Southwest Corn Chowder and Maple French Toast Cold Brew to our Circus Shake, Taco Pizza and several new seasonal ice cream flavors!
We also spiced things up by introducing a new series this year, the Stewart’s Make Your Own Prize Contests. Every month customers had the chance to win a year’s worth of coffee or ice cream.
You already know that Stewart’s dairy products are delicious, but they’re also award winning! At the 2023 World Dairy Expo and the New York State Fair, we took home several awards including: The Best Milk in New York State and The Best Eggnog in North America.
Stewart’s also celebrated the 75th anniversary of the Make Your Own Sundae, a fan favorite among all ages!
This year, we celebrated the one-year anniversary of our Online Shop where we have built a big following for Stewart’s flannel pajama pants, sweatshirts, baseball caps, tumbler mugs, holiday ornaments and, of course, Stewart’s coffee.
We also capped off another amazing Holiday Match season in 2023. In what was our 37th year of the program our generous customers donated more than $1 million, again. With the Stewart’s Shops match, that means we raised more than $2 million. With no administrative costs, 100% of those funds will be donated to local children’s charities.
We take great pride in sharing with our communities. That is why we do it all year long! Stewart’s Shops and related Dake Family Foundations donated $9 million to local charities in 2023!
Stewart’s also continued to invest back into the business to ensure our shops and communities continue to grow. We completed more than $50 million in construction projects over the past year, rebuilding four shops, opening four brand new locations, and remodeling another 50 stores.
The Stewart’s manufacturing and distribution plant also continues to grow. We are nearly tripling the size of our commercial kitchen and we are adding more cooler space to support the kitchen.
Over the past year, Stewart’s also continued to position itself for the future. A prime example is our newly expanded EV Charging network. The fast chargers are strategically located for convenience and to reduce range anxiety for customers traveling throughout New York.
And Stewart’s remained a hot spot for lucky customers. As one of the largest lottery retailers in New York State, Stewart’s Shops had over $139 million in winning tickets sold in 2023!
This past year was a successful one thanks to our hardworking partners. We were recognized for many awards including a 2023 Social Media Award, Preservation Award, The Best Place to get a Frozen Treat, Coffee & Chili Bestie Awards, Large Business of 2023, Best Convenience Store in the Adirondacks and more.
Looking ahead, there is a lot to be excited about in 2024.
Stewart’s has a newly appointed chief operating officer Chad Kiesow who will be taking on more responsibilities for third-generation Stewart’s president Gary Dake. And the company plans to invest another $50 million in store remodels, expansions and rebuilds.
Stay up to date by visiting stewartsshops.com and following us on social media. Thank you for an amazing year!
We Are Closer to You.
2023 Year in Review from Stewart’s Shops Corp on Vimeo.