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BOISE, Idaho - When Albertsons Inc. today broke ground on its newest Tulsa store location at Pine and Peoria, the company also announced plans to heavily invest new capital in the state of Oklahoma. During the next four years, the Boise-based retailer plans to invest more than $100 million for new store and fuel center construction, as well as existing store remodels in Oklahoma.
"Oklahoma has been a very successful market for Albertsons, and we see significant opportunity for additional growth," said Larry Johnston, Albertsons CEO and chairman of the board. "We are the market leader in the Tulsa market and a strong number two in Oklahoma City. Our goal is to improve these strong market positions through a focused program that expands our presence in the state and simultaneously enhances the levels of service and other consumer benefits offered at our stores."
Albertsons' key competitor in both markets is Wal-Mart, which holds a significant market share with its Supercenters and Neighborhood Markets.
Albertsons began serving Oklahoma when it acquired 12 Jewel-Osco stores from American Stores in 1992. The company currently operates 28 stores statewide and employs more than 3,000 Oklahoma residents.
In other news, Albertsons has announced that it has dropped the apostrophe from its name, making the company moniker consistent with the banner on its stores.