RETAILERS SEEN CUTTING BACK ON NEW STORES IN 2003

The supermarket industry has a New Year's resolution: It's going to cut down on its habit of building new stores.Some of the major publicly traded food retailers have reduced their capital expenditure plans for 2003 from 2002 levels as they struggle to cope with a difficult operating and competitive environment. Analysts said one of the areas where they expect retailers to rein in their spending is

The supermarket industry has a New Year's resolution: It's going to cut down on its habit of building new stores.

Some of the major publicly traded food retailers have reduced their capital expenditure plans for 2003 from 2002 levels as they struggle to cope with a difficult operating and competitive environment. Analysts said one of the areas where they expect retailers to rein in their spending is new-store construction.

"I think you're seeing a clear shift away from new sto

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