RETAILING
From Times Staff and Wire Reports
Albertson’s to Open 259 New Stores: Albertson’s Inc. said it expects to invest $2.3 billion over the next five years to, among other things, open 259 new supermarkets and remodel another 215. The Idaho-based company operates 656 supermarkets and combination food and drugstores in 19 Western states. The company said it will spend $1.55 billion to open the stores, $350 million for remodeling, $50 million on equipment, $280 million on distribution systems and $80 million to upgrade computers. Earlier this week, the company reported that fiscal first-quarter earnings more than doubled.
