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On December 11, 1957, Ralph Ketner, Brown Ketner, and Wilson Smith co-founded the Food Town (later Food Lion) grocery store chain in Salisbury, North Carolina. Ketner served as President (later CEO, chairman, and Chairman Emeritus).
These early experiences, combined with an innovation and lifelong desire to cut costs, helped Ralph Ketner revolutionize the grocery industry and make a one-store operation in Salisbury into a leading, national supermarket chain.
Jun 2, 2016 · His math skills played a key role in his landmark decision to reduce prices at Food Lion in 1967 with a goal of selling many staples at cost or less, while marking the rest of his groceries as much as 10% cheaper than his competitors.
- David Mildenberg
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.
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.
May 31, 2016 · Ralph Ketner helped turn $50 investments in a N.C. grocery store into the Food Lion chain. He was 95. In 1992, an ABC hidden camera report showed employees selling spoiled meat.
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In the first decade, Food Town grew to seven stores and had annual sales of $5 million in 1967 — but a profit of only $35,000 that year. Ralph decided to try a new strategy — "lowest food prices in North Carolina" — slashing prices and hoping for increased sales volume to build profit.
