Smith's Food & Drug
Smith's Food and Drug, commonly known as Smith's, is a leading chain of supermarkets in the Intermountain West and Southwest regions of the United States. Smith's operates 132 stores in Utah, Nevada, New Mexico, Arizona, Montana, Idaho, and Wyoming. Smith's utilizes a combination food and drug center format that strives for one-stop shopping. The chain's early 1990s advertising slogan was, ''The one place that takes the place of going place to place.''
Smith's began in 1932 when Lorenzo J. Smith opened his first grocery store in Brigham City, Utah. When his son Dee Smith - great nephew of Joseph Smith Jr. - joined the business he began immediately expanding it. Through partnerships and acquisitions Dee Smith built the company until his death in 1985. Later, Dee's son Jeff Smith became Chairman and CEO of Smith's. In 1989 the company completed its initial public offering and shares of the company started trading on the New York Stock Exchange under the ticker symbol SFD. In 1989, Smith's exited the once successful Boise, Idaho market after Boise's city council refused approval for Smith's to open a large store in Boise. Smith's attempted to re-enter the Boise, Idaho market in 1996. However, numerous delays and the 1999 Kroger-Fred Meyer merger forced Smith's to halt construction on its six planned location indefinitely. In the early 1990s, Smith's attempted a major expansion into the Southern California market which was completely unsuccessful and resulted in Smith's accumulating nearly $500 million in debt.