Food Lion Announces $110 Million Investment in Stores
SALISBURY, NC - Food Lion is looking towards a greater 2017, with a new look and focus on fresh to spur further growth. The retailer will be targeting 71 stores with a remodel in the greater Richmond, Virginia, market.
"Food Lion is proud to have been a part of the greater Richmond community since 1984, and we are excited to bring our newest format to this market," said President Meg Ham. "We look forward to making significant investments in our stores, our customers, our associates, and our communities to offer a new grocery shopping experience. We want to ensure our customers can easily find fresh, quality products to nourish their families at affordable prices every day, delivered with caring, friendly service every time they shop."
Food Lion’s investment is expected to reach $110 million, which will include remodeling stores, pricing adjustments, and reinvesting back into its associates and the community. According to a press release, these new enhancements will include an expanded product portfolio, new registers, pricing adjustments, and enhanced service.
Food Lion’s newly designed stores were designed with easier navigation in mind, so customers can get in and out of the store quickly. The chain’s expanded variety of products will make each store more relevant to its customer base, in addition to providing an array of local options.
Richmond is the sixth of Food Lion’s markets that the banner has sought to remodel, and with locations expected to be completed on a rolling basis between June and October 2017. Food Lion also stated that it will continue to launch enhancements across its more than 1,000 stores in 2017, moving its remodel initiative to even more markets.
The company is currently remodeling 93 stores in the greater Greensboro, North Carolina market, and has previously completed 142 stores in greater Charlotte in 2016, 162 stores in the greater Raleigh in 2015, and 76 stores in the greater Wilmington and Greenville markets in 2014.
Where will this prospective strategy take Food Lion in the buy-side sector? AndNowUKnow will be sure to report.