The locally based chain, which operates 141 supermarkets primarily in the New York-New Jersey and Philadelphia metropolitan areas, will not open any new stores this year. However, it plans eight "major" remodels and six minor store renovations in fiscal 2006.
"We expect [the new prototype] to be done with this process in the next six months or so," said John Standley, CEO, at the company's first quarter conference call. "We will use the key elements of the prototype in our renovations once the design is complete."
Capital expenditures for the quarter came to $12.1 million, with a total of $70 million planned for the year. Six remodels will be completed in the second quarter, including one that opened last week in Staten Island, NY.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
