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PLEASANTON, Calif., Oct. 10 (UPI) -- Ross Stores Inc. is buying 46 Albertsons LLC real estate sites in California, Florida, Texas, Arizona, Colorado and Oklahoma.
Ross expects to incorporate these properties into its 2007 expansion program for Ross and dd's Discounts, the company said in a news release Tuesday. The cost of the properties was not disclosed.
"Along with other new stores already planned for fiscal 2007, the acquisition of these former Albertsons properties will put the company's projected total unit growth in the range of 11 percent to 12 percent for the year ending Feb. 2, 2008," Ross said in the release.
Ross will take possession of some of these sites as soon as November, with estimated openings beginning as early as March. Capital expenditure requirements to convert these sites to the Ross or dd's Discounts formats are projected to be in the range of $1.5 million to $2 million per store. Based on the timing of these site acquisitions, capital expenditures and other cash requirements are expected to increase by up to $10 million in fiscal 2006, Ross said.
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