Ross Stores buying 46 Sunbelt stores from Albertsons
Brian Carroll -- Home Textiles Today, October 10, 2006
Pleasanton, Calif. – Ross Stores will acquire 46 Albertsons real estate sites in California, Florida, Texas, Arizona, Colorado, and Oklahoma, to be converted into Ross and dd’s DISCOUNTS stores during 2007.
Ross vice chairman, president and ceo Michael Balmuth said, “We believe this transaction offers a rare chance to enhance our long-term growth prospects and returns by adding these stores, almost all in our highly productive, core Sunbelt states.”
The $4.9 billion off-price retailer said site conversion work following the move will increase its fiscal 2006 capital expenditures by up to $10 million.