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When did lfpinc become Food Lion?
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LFPINC (Lowest Food Prices In North Carolina) was an acronym used successfully by Ralph W. Ketner, co-founder and president of Food Town/Lion, to symbolize his cutting cost theory—lowering prices on all items to sell more products and therefore make a larger profit.
- Food Lion
After the introduction of the “ Lowest Food Prices in North...
- Food Lion
After the introduction of the “ Lowest Food Prices in North Carolina ” (LFPINC) concept in 1968, the grocery chain grew from seven stores to approximately 800 in 1991, the year in which Ketner retired. Before then in 1983, the company had changed its name to Food Lion.
Food Lion was founded in 1957 in Salisbury, North Carolina, as Food Town by Wilson Smith, Ralph Ketner, and Brown Ketner. The Food Town chain was acquired by the Belgium-based Delhaize Group grocery company in 1974. [7]
Jul 15, 2024 · After introducing the Lowest Food Prices in North Carolina (LFPINC) concept in 1968, the grocery chain grew from seven stores to about 800 in 1991, when Ketner retired. Before that, in 1983, the company had changed its name to Food Lion.
Mar 28, 2007 · Troy Kickler's piece on the origins of Food Lion, currently featured on NorthCarolinaHistory.org, brought back memories, especially the discussion of LFPINC. That acronym was Food Town's (read Troy's piece to find out about the name change) slogan: Lowest Food Prices in North Carolina.
Co-founder of Food Town (later renamed Food Lion), Ralph Ketner started working in the grocery business as a child in his father’s meat store in Salisbury, North Carolina and later as a teenager during the Depression in his brother’s Kannapolis, North Carolina store.
In January 1986, Tom Smith became CEO of Food Lion, replacing Ralph Ketner, who remained chairman. Smith, who had once worked as a bagger for a Food Town store, returned to the company in 1971 as a buyer and became president and chief operating officer in 1980.
