Publix, coming off another year in which it shattered its annual revenue record, says it will spend $1.85 billion on opening new stores, remodeling existing stores, implementing new or enhanced information technology hardware, and acquiring shopping centers where the company is the anchor tenant.

The company, earlier this month, reported 2016 revenue of $34 billion, which was an increase of more than 5 percent from the $32.4 billion it saw in 2015. Annual profits were at $2.03 billion, an increase of more than 3 percent from 2015.

Publix opened 32 new stores and remodeled 156 more in 2016, totaling capital expenditures of $1.4 billion.