SUPERVALU CUTS CAP EX, FOCUSES ON REMODELS

MINNEAPOLIS -- Supervalu here said last week it plans to reduce its capital budget by $100 million in fiscal 2002 to conserve cash.The company said it expects to allocate $475 million to capital spending next year, compared with $575 million projected for fiscal 2001 that ends in February.Pam Knous, executive vice president and chief financial officer, said Supervalu will take "a more targeted approach"

MINNEAPOLIS -- Supervalu here said last week it plans to reduce its capital budget by $100 million in fiscal 2002 to conserve cash.

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