Supermarket chain Food Lion, subsidiary of Delhaize America,
announced significant investments in 169 stores in its home state
of North Carolina. The move has created as many as 500 jobs in
the region. Delhaize America is the U.S. division of
Food Lion has injected money into its stores in Wilmington and
Greenville in North Carolina as well as Columbia, Charleston and
Myrtle Beach in South Carolina.
Food Lion has slashed the prices of 6,000 items including its
'my essential' category. It has also taken steps to enhance the
quality, freshness and variety of products.
Additionally, shoppers can redeem their grocery coupons at
designated centers to avail personalized offers on national and
private brand products. Food Lion has introduced centers where
shoppers can scan their grocery coupons to receive personalized
offers for additional savings on national and private brand
Food Lion has also taken several steps as per customer
feedback to boostits online sales. The grocer has reintroduced an
interactive digital flyer by which customers can avail of
discounts while shopping online. Also, it has joined a mobile app
- Ibotta - which offers cash rewards for purchasing featured
These sales-driving endeavors are expected to increase
customer traffic as well in the coming quarter. Food Lion
operates more than 1,100 supermarkets in 10 states, and it has
about 57,000 employees.
Of late, Delhaize Group has been working on simplifying the
company's U.S. operations to enable it to better focus on its
core businesses in the region. In this regard, in May, the
company agreed to divest its U.S.-based Sweetbay, Harveys and
Reid's supermarket stores to national supermarket chain, Bi-Lo
Holdings, for $265 million in cash.
Other Stocks to Consider
Delhaize carries a Zacks Rank #3 (Hold). However, other
retailers worth considering are
Best Buy Inc
Harris Teeter Company Inc.
Marks & Spencer
). All these stocks carry a Zacks Rank #2 (Buy).
BEST BUY (BBY): Free Stock Analysis Report
DELHAIZE-LE (DEG): Free Stock Analysis Report
HARRIS TEETER (HTSI): Free Stock Analysis
MARKS&SPENCER (MAKSY): Get Free Report
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