REBUILDING THE STORE

Many of the major supermarket operators plan to continue investing heavily in capital expenditures in 2004, despite analysts' warnings that these companies need to rein in their spending.Spending on remodeling projects is expected to continue to grow, while new-store construction is expected to remain nearly flat for many traditional operators. Some food retailers, including Safeway, Pleasanton, Calif.;

Many of the major supermarket operators plan to continue investing heavily in capital expenditures in 2004, despite analysts' warnings that these companies need to rein in their spending.

Spending on remodeling projects is expected to continue to grow, while new-store construction is expected to remain nearly flat for many traditional operators. Some food retailers, including Safeway, Pleasanton, Calif.; Winn-Dixie Stores, Jacksonville, Fla.; and A&P, Montvale, N.J., are increasin

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