Kroger Co. is slowing down its expansion plan for 2017, Supermarket News reports.
The Cincinnati-based grocery giant expects a 35 percent reduction in new-store development, store expansions and relocations with 55 projects planned compared to 85 in 2016.
The change was reported in Kroger’s annual report filed with the Securities and Exchange Commission last week, which also projected a 13 percent cut to capital expenditures to $3.5 billion from $3.7 billion in 2016.
The new store openings will increase Kroger’s square footage by 1.8 percent. In 2016, Kroger added 3.4 percent to its square footage.
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In addition to expansions and relocations, Kroger is planning to do 175 major remodeling projects this year while investing in its digital technology.
Date: April 12, 2017