ANNUAL MEETING

WAYNE, N.J. -- Grand Union Co. here said last week it would conduct "a store-by-store" review of its supermarkets in the wake of disappointing financial results for the 12-week fourth quarter ended April 1.Gary M. Philbin, Grand Union president and chief executive officer, said in a conference call with analysts that the company will focus more on remodeling and expanding existing units rather than

WAYNE, N.J. -- Grand Union Co. here said last week it would conduct "a store-by-store" review of its supermarkets in the wake of disappointing financial results for the 12-week fourth quarter ended April 1.

Gary M. Philbin, Grand Union president and chief executive officer, said in a conference call with analysts that the company will focus more on remodeling and expanding existing units rather than building new ones.

The company will also reverse direction and convert all GU

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