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NEW YORK - Albertson's Inc. said today it would invest $184 million to build new stores and fuel centers in the Dallas/Fort Worth market, as it continues to face fierce competition led by Wal-Mart Stores Inc., Reuters reports.
Boise, Idaho-based Albertson's currently ranks as the market share leader in both Dallas and Fort Worth, ahead of U.S. No. 1 supermarket chain Kroger Co.
In an interview with Reuters, Albertson's spokeswoman Rhonda Clements said the planned investment would be spread over two years, and would include the building of 13 new food stores and 16 new fuel retailing centers. She also said the company plans to remodel eight existing stores in the market.
In March Albertson's announced an exit from the Houston, San Antonio, Nashville and Memphis markets as part of a strategy to focus on profitable locations.
Albertson's currently operates 97 stores and employs about 10,000 people in the Dallas/Fort Worth market, according to Reuters. It has been operating in that market since 1984.