The Harris Teeter Charlotte investment will direct approximately $253 million toward supermarket renovations and new locations over the next three years. Harris Teeter is a subsidiary of Kroger (NYSE: KR).
The program covers selected stores throughout the Charlotte metropolitan area, including communities in North and South Carolina. Renovations and other improvements are planned for locations in Fort Mill, Rock Hill, Matthews, Waxhaw, Concord and Huntersville, among others.
Harris Teeter Charlotte Investment Includes Three New Stores
The grocer also plans to develop new supermarkets in Fort Mill and Lake Wylie, South Carolina, and Kannapolis, North Carolina. Harris Teeter said the broader program is intended to make shopping easier and more convenient for customers.
Kroger publishes subsidiary and regional announcements through its official corporate newsroom. The companies did not provide a detailed annual spending schedule or disclose expected revenue and employment contributions from the three new locations.
The Harris Teeter Charlotte investment signals confidence in the region’s grocery demand while raising near-term capital spending. Its eventual return will depend on store traffic, construction costs, competitive pricing and whether renovated locations gain market share.
