Albertsons to Boost Investment in Colorado

DENVER - As Albertsons celebrated a new store opening in Denver this week, the retailer announced plans to significantly expand its presence in the state of Colorado. Executives told local and state dignitaries that it plans to invest more than $300 million in Colorado through 2005 for new store and fuel center construction, as well as the extensive remodeling of existing stores.

"We are energized to serve the people of Colorado and truly believe the sky's the limit as we accelerate our growth momentum in the state," said Judy Spires, Albertsons Rocky Mountain Division president. "We now have nearly 40 stores in the greater Denver area. In the next three years alone, we plan to increase this number to more than 50, creating thousands of new jobs and business opportunities."

The Denver food retail market is currently led by Kroger division King Soopers, followed by California-based retailer Safeway. Albertsons is the third-place player in the market with a 13.2 MSA share, according to Trade Dimensions' Market Scope data. In Colorado, Albertsons operates under the banners of Albertsons and Grocery Warehouse.

Lowry Town Center, the location of Albertons' newest Colorado store, is on the site of the historic Lowry Air Force Base. It marks the 59th store Albertsons has opened in Colorado since it entered the market in 1966.

The approximately 52,000-square-foot store includes an expanded kosher dairy, frozen, and grocery selection, and Fresh Glatt Kosher Meat. In addition, it has an expanded Hispanic selection, Starbucks Coffee Bar, and Dreyer's Ice Cream Bar.
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