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.

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" in its capital program next year in an effort to get more efficiencies o

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