Food Lion history

In 1967 Ralph Ketner formulated the strategy that would launch Food Town's dramatic rise in the retail food industry.

The cost-cutting theory (LFPINC), implemented in 1968, launched the small-town North Carolina business into the spotlight as a regional and national competitor.

By 1971, sales were nearly $37 million.

The Food Town chain was acquired by the Belgium-based Delhaize Group grocery company in 1974.

In 1983, Food Lion carried its new banner into Tennessee as sales surpassed the $1 billion mark.

In January 1986, Tom Smith became CEO of Food Lion, replacing Ralph Ketner, who remained chairman.

After numerous stock splits, an initial investment of 100 shares, originally valued at $1,000, was worth more than $16 million by the end of 1987.

In 1990 alone, Food Lion opened 20 more stores, while sales hit $5.6 billion (beating Smith's goal of $5 billion set five years earlier). Earnings of $172.6 million for the year equated to a 3.1 percent margin, besting the industry average of one percent.

Sales for 1991 increased 14.3 percent to $6.4 billion, and the firm's margin remained steady and healthy at 3.2 percent.

In November 1992, a critical PrimeTime Live report that showed unsanitary handling of meat and seafood hurt the chain as they attempted to enter new markets in the Northeast and Southwest. (See ABC PrimeTime Live section, below.)

Ketner announced early in 1993 that he would not seek reelection to the Food Lion board, citing his frustration with constantly being outvoted on key board matters.

On January 7, 1994, Delhaize announced the first major round of store closings in what would become a yearly event.

Smith set a new goal of reaching $14 billion in sales by 1995.

Food Lion grew steadily, acquiring nearly all of west central Florida's 100 Kash 'n Karry supermarkets in late 1996.

Citing double-digit same-store sales declines for the quarter ending in September 1997, Delhaize announced that it was canceling its Midwest expansion, exiting all markets in Texas, Oklahoma, and Louisiana, and closing its 6-year-old distribution center in Roanoke, Texas.

Since 2000, Food Lion and Feeding America have partnered to reduce food waste by donating more than 300 million meals to Food Lion's communities through their food rescue initiative.

Food Lion's stock was converted to that of Delhaize America, which would by 2001 become wholly owned by the European Delhaize conglomerate.

Sales:$8 billion (2003 est.)

They aided the reconstruction efforts in Florida in the wake of Hurricane Charley in August 2004 by contributing truckloads of food and raising money for the Hurricane Charley Disaster Relief Fund.

Under the leadership of DelHaize Group executives, the company survived the legal challenges, and in February 2007, it employed 73,000 workers in nearly 1,200 stores and served ten million customers in eleven states.

In late 2013, Food Lion introduced a new concept and decor at a store in Concord, North Carolina.

In March 2015, plans were announced for remodeling of its 162 locations in the Raleigh, North Carolina, market.

In March 2016, the company announced that they would make a $215 million investment in its greater Charlotte-area stores and western NC stores.

In early 2017, Food Lion announced that they will remodel 93 of their stores in the Piedmont Triad with three of them already finished at the time.

On March 14, 2018, Supervalu announced that Food Lion was purchasing three Farm Fresh locations in Elizabeth City, North Carolina and Hampton and Virginia Beach, Virginia as part of a larger deal to close down the Farm Fresh brand.