Harris Teeter to Expand in Existing Markets
August 06, 2012
Matthews, N.C.-based Harris Teeter Supermarkets Inc. plans to expand its presence in existing markets. In June, the retailer entered into a purchase agreement with regional chain Lowes Foods, through which Harris Teeter acquired 10 Lowes Foods store locations in the central Carolinas region and Lowes Foods acquired six Harris Teeter store locations in western North Carolina. Next quarter, Harris Teeter said it plans to open a total of seven stores and complete major remodels of nine stores, five of which will be expanded in size. The company’s growth initiative program for fiscal 2012 is expected to result in a 4.5 percent increase in retail square footage. In 2013, the grocer plans to open 12 new stores and complete major remodels of nine stores.