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AUSTIN, Texas - Albertsons Inc. today announced plans to invest more than $100 million for new store and fuel center construction, as well as existing store remodels, in the Austin market during the next four years.
"Austin is a strategic growth market for Albertsons," said Larry Johnston, Albertsons CEO and chairman of the board. "New marketing and merchandising plans will be introduced during the coming months to strengthen our position as we continue to aggressively defend and grow our market share."
Albertsons, which entered the Austin market in 1989, currently operates 14 stores there and holds a 12 percent DMA (Designated Market Area) share, compared to market leader H-E-B, based in San Antonio, Texas, which operates around 40 stores and holds 59 percent of the market, according to database company Trade Dimensions. Randalls, a division of Safeway, operates 15 stores and has a 12.9 percent DMA share in Austin.
Albertsons said it will invest an estimated $20 million in 2003 and more than double that investment in 2004 by spending over $44 million. Further plans call for an estimated $24 million investment in 2005.