The five locations that Roundy's is discussing with Supervalu are at 2355 N. 35th St., 1100 E. Garfield, 1735 W. Silver Spring in Glendale, 13995 W. National Ave. in New Berlin and 11111 W. Greenfield in West Allis.
Disposing of the stores is part of Supervalu's ongoing process of divesting some stores in order to "strengthen its overall store base," said Jeff Noddle, Supervalu chairman and CEO. With annual sales approaching $40 billion, Supervalu is one of the largest grocery chains in the US and operates approximately 2,500 retail locations.
The sell-off of the Jewel-Osco stores follows news from Supervalu recently that it plans to spend nearly $1 billion this year on new and remodeled stores as part of a capital expenditure program, discussed by company officials in a conference call regarding financial results.
In all, Supervalu plans to invest approximately $950 million on new and remodeled stores, excluding $150 million spent in the first quarter by Albertson's before Supervalu's acquisition of that chain closed. By year-end, the chain will have opened 35 to 40 standard-sized stores and 50 to 75 limited assortment units, as well as 80 major remodels, Noddle said in the conference call. That figure includes new units and remodels completed by Albertson's prior to the acquisition.
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