Albertson's Inc. (Boise, Idaho) has announced that it will be selling three Miami-area stores as part of an earlier-announced plan to close 165 underperforming stores around the country. Nonetheless, the supermarket retailer affirmed its commitment to the Florida market by stating that it would invest an estimated $125 million throughout the state in 2002, in new store construction and remodels. In 2001, Albertson's has poured $100 million worth of capital expenditures into Florida.
“We are here to stay,” said chairman and ceo Larry Johnston. “Florida is one of Albertson's key strategic markets for the future.
“There will always be stores or markets that do not build shareowner value,” Johnston added. “Albertson's is intent on building shareowner value by eliminating underperforming assets. The three stores we are closing in Miami fit that profile; however, these closures have no bearing on our unwavering commitment to the future of Albertson's in Florida.”
The three stores to be closed are on Miami's West 40th, S.W. 56th Street and N.E. 8th Street. Albertson's is in purchase negotiations with supermarket competitors Publix and Sedano's for the three locations.
“Sedano's is very pleased to announce the acquisition of the two stores located at 14655 S.W. 56th Street and 831 N.E. 8th Street,” said Romelio Valdes, corporate secretary of Sedano's Management (Hialeah, Fla.). “Sedano's believes these two stores are a wonderful addition to its presence in South Florida.”
Sedano's, started in 1961 with one store by Cuban refugee Armando Guerra, now operates 25 supermarkets and 13 pharmacies in southern Florida, all with packaged Hispanic foods, Latin American designs, salsa music and Spanish-speaking clerks. It is one of the nation's largest Hispanic-owned businesses.
“We plan to rebuild, extensively remodel or expand the buildings at this site,” said Publix ceo Charlie Jenkins Jr. Publix Super Markets (Lakeland, Fla.) is one of the nation's fastest-growing supermarket chains, with most of its more than 650 stores in Florida, but with more and more in Alabama, Georgia and South Carolina.
Albertson's, the nation's second-largest supermarket chain (behind Cincinnati-based Kroger), operates more than 2500 stores in 36 states, under banners including Albertson's, Jewel-Osco, Acme, Sav-on Drugs, Osco Drug, Max Foods, Super Saver and Seessel's by Albertson's.