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NASHVILLE - The Kroger Co. revealed plans this week to spend $120 million over the next two years opening new stores or remodeling and expanding existing locations in Middle Tennessee, the The Tennessean reports.
About 40 percent of the investment is said to go to seven to nine new store openings in the area either through construction or the acquisition of existing locations. Kroger didn't disclose the specific locations for the new stores.
The remaining money will be devoted to remodels of existing Kroger stores that will include such features as fuel centers, drive-thru pharmacies, natural food sections and one-hour photo labs, the Cincinnati-based retailer said.
Kroger said it expects to make most of the changes by the end of 2004.
With 53 stores, Kroger dominates the Midstate grocery scene with a nearly 50 percent share of the market, the newspaper reports. Wal-Mart is a distant No. 2, but the company has begun introducing its Neighborhood Market concept in the area.
Publix, meanwhile, acquired seven former Albertson's locations last year that are scheduled to be open by August.