Weis Markets announced late last month that the company plans to invest $109 million in capital expenditures during 2019. The investments are slated for new stores, remodels, supply chain improvements and technology upgrades.
In the same announcement, a Weis executive said that sales rose to a record $3.5 billion in 2018, with comparable-store sales increasing in 18 of the past 19 quarters.
The Weis executive attributed the company's recent success to technology investments, targeted holiday promotions, price improvements and more efficient store-level inventory management.
Showing posts with label capital expenditures. Show all posts
Showing posts with label capital expenditures. Show all posts
Sunday, May 5, 2019
Thursday, July 12, 2012
The end may be near for Supervalu, Acme
Yesterday the board of directors for Minneapolis-based Supervalu (Acme, Save-A-Lot) said they are considering the sale of all or parts of the company, and will significantly cut expenses and capital spending.
The announcement came after Supervalu's financial results for its most recent quarter fell below expectations. The company's net earnings of $41 million were down 45% from the same period last year.
According to company leadership, fiscal 2013 capital expenditures would be reduced from previous estimates of $675 million to $450-$500 million, and operating expense cuts of $250 million can be expected over the next two years. In addition, Supervalu has suspended its dividend and replaced its current credit facility with a real estate backed loan.
In a conference call yesterday with analysts, CEO Craig Herkert said the company was not considering bankruptcy, but analysts believe it's a possible scenario considering the difficulty Supervalu will most likely face when trying to find a buyer.
Save-A-Lot, Supervalu's "limited-assortment" brand, is the banner analysts believe would be most attractive to a buyer. Other Supervalu brands include Albertsons, Jewel-Osco, Acme, Shaw's, Cub Foods and Shoppers.
The announcement came after Supervalu's financial results for its most recent quarter fell below expectations. The company's net earnings of $41 million were down 45% from the same period last year.
According to company leadership, fiscal 2013 capital expenditures would be reduced from previous estimates of $675 million to $450-$500 million, and operating expense cuts of $250 million can be expected over the next two years. In addition, Supervalu has suspended its dividend and replaced its current credit facility with a real estate backed loan.
In a conference call yesterday with analysts, CEO Craig Herkert said the company was not considering bankruptcy, but analysts believe it's a possible scenario considering the difficulty Supervalu will most likely face when trying to find a buyer.
Save-A-Lot, Supervalu's "limited-assortment" brand, is the banner analysts believe would be most attractive to a buyer. Other Supervalu brands include Albertsons, Jewel-Osco, Acme, Shaw's, Cub Foods and Shoppers.
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