Forbes reports on a presentation made by Supervalu CEO Jeff Noddle to a Goldman Sachs retailing conference, in which he said that the company is entering the “implementation phase” of its acquisition of much of the Albertsons chain, having spent the past year integrating the operations of the two companies.
According to the story, “Noddle outlined three initiatives - building programs for retail growth, implementing synergies and maintaining fiscal discipline,” and said that “the company would try to reduce its debt by $400 million and return to an investment grade credit rating in 2008. He said the company would also work on its private-label brand. He added that the chain would remodel 80 percent of its stores in the next seven years through a $1.2 billion capital spending plan.”
"I'm pleased with our success in year one," Noddle said. “This is a marathon and not a sprint."
According to the story, “Noddle outlined three initiatives - building programs for retail growth, implementing synergies and maintaining fiscal discipline,” and said that “the company would try to reduce its debt by $400 million and return to an investment grade credit rating in 2008. He said the company would also work on its private-label brand. He added that the chain would remodel 80 percent of its stores in the next seven years through a $1.2 billion capital spending plan.”
"I'm pleased with our success in year one," Noddle said. “This is a marathon and not a sprint."
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