Wal-Mart Lowers Capital-Spending Forecast
Bentonville, Ark. Wal-Mart Stores Inc. is reducing its capital-spending forecast for fiscal 2009, as it slows construction of supercenters amid a weakening U.S economic environment.
The retailer said Tuesday it expects to spend $13 billion to $14 billion during the fiscal year ending Jan. 31, 2009. Last October, the company said it expected to spend $13.5 billion to $15.2 billion.
CFO Tom Schoewe said the lower forecast “reflects Wal-Mart’s ability to grow more efficiently with reduced capital expenditures.” He said the company plans moderating supercenter growth in the United States.
Schoewe told shareholders at its annual meeting in Fayetteville, Ark., earlier this month that capital spending would likely be at the low end of the projected range. While capital reductions have occurred across the entire company, the most significant have been with its Wal-Mart U.S. operations, according to company officials.
Stop & Shop joins MyPyramid to promote healthy eating
QUINCY, Mass. Stop & Shop said it has joined the U.S. Department of Agriculture as part of “Partnering with MyPyramid: Corporate Challenge,” to encourage consumers to shop for healthy foods and live a healthy lifestyle.
“At Stop & Shop, we readily accept the challenge to help our customers live a healthy lifestyle because the supermarket plays an important role in providing healthful food choices, said consumer advisor, Andrea Astrachan. “Because millions of customers shop our stores weekly, we have a unique opportunity to share the core messages of MyPyramid right where purchasing decisions are made.”
The company will provide key messages to customers such as “Vary Your Veggies” and “Make Half Your Grains Whole, as well as encourage customers to use the new interactive tools on MyPyramid.gov such as the MyPyramid Menu Planner and MyPyramid to plan menus and track their daily intake.
Supervalu to eliminate some corporate jobs
MINNEAPOLIS Supervalu said it will eliminate more than 100 jobs at its corporate offices in Minneapolis and Boise over the next 12-18 months as it switches to a third-party provider for some of its financial services.
In a statement, Supervalu said the decision was made “after months of careful analysis as part of our ongoing efforts to improve operational efficiencies and enhance our competitiveness.” Supervalu did not identify the third party provider in its statement.