Kroger to Invest $150 Million for Dallas-Area Expansion

They say everything's bigger in Texas, and for Kroger (NYSE: KR) that may very well be true. The food retailer has announced hefty expansion plans in the Dallas-Fort Worth area, a move that will cost the company $150 million to execute. The expansion is part of the biggest store-building boom ever undertaken by the grocer.

Kroger said it wants to build five new Marketplace stores in the Dallas-Forth Worth area and expand three others there over the next two years. The new stores and expansions are expected to generate about 1,700 full- and part-time positions, Kroger said.

"Dallas is a market that continues to attract new residents and retailers because of its economic strength and stability," said Bill Breetz, president of Kroger Southwest in a statement. "We've operated here since 1958. In that period, we've grown our footprint to 85 stores and 43 fuel centers."

The new store planned for Forney, Texas is expected to open in 2014, while the remaining four will be ready to welcome shoppers by 2015. Each of the five new outlets will include a Kroger Fuel Center.

Cincinnati-based Kroger operates in 31 states and is currently the largest grocer by market share in the Southwest, with 85 stores and 43 fuel centers in the region.

For more see:
-This Kroger press release

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