BOISE, Idaho -- Albertson's here said it plans to enter at least one new marketing area during the next five years.
of 388 new stores -- a rate of growth that Albertson's thinks will require it to expand into a new operating area, Michael Read, director of public relations and government affairs, told SN. However, he said, Albertson's has not decided yet on where that area will be or when it would enter it.
Earlier this year Albertson's entered the Houston market, where it operates 17 stores. It plans to open its first two stores in Jackson, Miss., in late January, with two more due to open by midyear, "but we don't see Mississippi as a major growth market at this point," Read said.
Albertson's said its five-year growth plan might require it to open another grocery distribution center and a nonfood facility. "With the 10 grocery facilities and two nonfood facilities we currently operate, we can add 300 stores," Read said. "But we may need the additional facilities to accommodate any stores over that total," he added. Albertson's said the five-year plan will cost $3.8 billion, of which about 73% is for new store development, 16% for remodels, 5% for distribution, 3% for information technology and 3% for retail equipment.