Retailer May Sell Chain: American Stores Co.,...
From Times Staff and Wire Reports
Retailer May Sell Chain: American Stores Co., the nation’s largest grocery and drugstore retailer, said it may sell its Acme Markets Inc. unit, which operates 275 supermarkets in the Northeast and had sales of $3.3 billion last year. The Salt Lake City firm said proceeds would be used to reduce debt and to upgrade stores in its remaining markets. The firm had total debt of $3.4 billion at the end of its second quarter, much of it incurred in the $2.5-billion takeover of the Lucky Stores chain in June, 1988.
