While sister chain Stop & Shop will get the lion’s share of Ahold Delhaize’s U.S. investment capital in coming years, Giant Food won’t go hungry.
The Landover, Md.-based banner said it would spend $175 million on expansion and improvements over the coming two years, including one new store and 24 remodels. These efforts are in addition to the $21 million Giant said it would devote to a new store in Olney, Md., set to open next spring.
“As the region’s leading grocer, this announcement is part of our long-term commitment to deliver a consistently exceptional experience for our shoppers,” Gordon Reid, president of Giant Food, said in a release. “We look forward to updating and enhancing our existing stores and constructing both new and replacement locations to give our shoppers a fresh and imaginative selection, unique in-store experiences and superior customer service.”
The new store will be in Fairfax, Va., as part of the Scout on the Circle development, announced a year ago by developer Combined Properties. It follows recently opened replacement units in Herndon, Va., and Alexandria, Va., which were both former Shoppers Food locations.
Giant recently unveiled a new branding campaign and slogan to re-establish local roots.
In addition, Giant said it would be remodeling 24 stores to feature new amenities such as enhanced perishables, produce, beer, wine and spirits offerings; full-service florists; expanded natural and organic departments; hot Asian food bars; fresh squeezed juice bars; enhanced checkout zones; full-service pharmacies; and more.
As a result of the new projects, Giant anticipates the creation of about 500 new jobs.
Ahold Delhaize officials last month said that Giant’s sister Stop & Shop would undergo a market-by-market repositioning with incremental capital expenditures of $100 million to $150 million per year through 2023. That work gets underway next spring with stores on Long Island, following its Hartford, Conn., test-market debut.