Already the largest grocer by market share in the area, Kroger announced today it is investing an estimated $150 million to grow its presence in the greater Dallas/Fort Worth, Texas, area over the next two years with the planned expansion of three existing stores, and the building of five new locations.
Each of the five new outlets will include a Kroger fuel center, four of which are scheduled to open in 2015. The new store planned for Forney, Texas, is expected to open in 2014, Kroger said. The existing locations Kroger intends to build upon include adding one new fuel center, expanding an existing fuel station, and adding a combined 76,000 square feet of shopping space, according to Kroger's statement.
Commenting on the decision to add to its existing 85 stores and 43 fuel centers already in the region, President of Kroger Southwest Bill Breetz said, "Dallas is a market that continues to attract new residents and retailers because of its economic strength and stability."
As of Sept. 13, Kroger operated 2,419 grocery stores and 1,195 fuel stations, in addition to hundreds of convenience stores, jewelry outlets, and 37 food processing and manufacturing facilities. Kroger also operates 1,950 pharmacies within its food and drug stores, and has locations in 31 states.
The article Kroger to Invest $150 Million in New Dallas Area Stores, Upgrades originally appeared on Fool.com.Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.