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Delhaize to spend on new stores

from The Wall Street Journal

Delhaize Group said it plans to spend $1.21 billion opening new stores and remodelling existing outlets, despite a tough retail environment which saw its same-store sales decline 0.8 percent in the fourth quarter. The Belgian supermarket operator, which gets over two-thirds of its revenue from its U.S. Food Lion, Hannaford and Sweet Bay chains, said sales from stores open longer than a year fell 0.8 percent, although that was an improvement from a 1.8 percent fall the previous quarter. more

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