EDEN PRAIRIE, MN-Despite a major restructuring that includes closing down an unspecified number of stores and distribution centers, SuperValu still plans to add up to 15 new superstores and 120 limited assortment stores this year. The food retailer and wholesaler says it is taking a $240-million restructuring charge as part of its fourth quarter ended Feb. 24, and will cut 4,500 jobs in an attempt to revive its earnings.

One reason for the difficult year: the loss of Kmart as a wholesale client, which will reduce the company's revenues by $1.7 billion a year. During fiscal 2001, the company increased square footage by 5% over the prior year, including 122 new or acquired stores and 45 stores closed or sold, leaving the company with 1,194 stores at year-end.

New store openings for fiscal 2002 are projected at 10 to 15 price superstores and 100 to 120 limited assortment stores including licensed locations.