NEW YORK -- American Stores expects to spend about $700 million to build and remodel stores in 1994, Victor L. Lund, president and chief executive officer, said here last week. The $700 million, which is about 7% above last year's capital-expenditure program, will be allocated almost equally among American's three operating groups: supermarkets in the East, supermarkets in the West and drug stores. American's proposed 1994 capital spending will likely exceed all other supermarket ...

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