Ahold announces plans to upgrade 100 Giant Food supermarkets in the
United States
Amsterdam, the Netherlands - Ahold today announced a major
three-year investment plan to remodel or replace approximately 100
Giant Food supermarkets in Delaware, Maryland, Virginia, and
Washington DC. The store remodeling program, named "Project Refresh",
will represent Ahold's largest investment in the Giant Food stores
since acquiring the chain in 1998.
José Alvarez, President and CEO of Stop & Shop/Giant-Landover, said
today "We are very excited about what this investment will bring to
our Giant customers, employees and local communities. The remodeling
program underscores our commitment to continuing to be the
supermarket of choice in these markets."
The investment will focus on improving Giant's perishable food
sections and modernizing the stores to improve customer convenience.
Giant expects to keep its existing stores open during the remodeling
process.
Giant Food is headquartered in Landover, Maryland, operates 185
supermarkets in Virginia, Maryland, Delaware, and Washington DC, and
employs approximately 21,000 employees.
Ahold Press Office: +31 (0)20 509 5343
Forward-looking statements notice
Certain statements in this press release are "forward-looking
statements" within the meaning of the U.S. federal securities laws.
Ahold intends that these statements be covered by the safe harbors
created under these laws. These forward-looking statements include,
but are not limited to, statements as to the expected store
remodeling program regarding Giant Food supermarkets, the expected
timing of the remodeling program, the expected number of Giant Food
stores involved in the remodeling program, the expected impact on
Giant customers, the expected focus of the remodeling program on
perishable food sections and customer convenience and the expectation
to keep stores open during the remodeling program. These
forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially
from future results expressed or implied by the forward-looking
statements, including, but not limited to, Ahold's ability to
implement and complete successfully its plans and strategies, the
benefits from and resources generated by Ahold's plans and strategies
being less than or different from those anticipated, changes in
Ahold's liquidity needs, the actions of competitors and third parties
and other factors, some of which are discussed in Ahold's public
filings. Many of these factors are beyond Ahold's ability to control
or predict. Given these uncertainties, readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Ahold does not undertake
any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after
the date of this press release, except as may be required by
applicable securities law. Outside the Netherlands, Koninklijke
Ahold N.V., being its registered name, presents itself under the name
of "Royal Ahold" or simply "Ahold."
