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Kroger slashes new store development plans by 35 percent

from Food Dive

Kroger will cut new-store development, store expansions and relocations in 2017 by 35 percent, according to its annual 10-K report filed with the Securities and Exchange Commission. With 55 projects planned, versus 85 in 2016, the report shows Kroger aims to trim capital expenditures by approximately 13 percent to between $3.2 billion and $3.5 billion, compared with $3.7 billion in 2016. Kroger said it expects square footage to grow by 1.8 percent in 2017, compared with 3.44 percent a year earlier. more


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