Albertson's, Inc. Adopts Stock Buyback Program.Business Editors BOISE, Idaho--(BUSINESS WIRE)--April 25, 2000 Albertson's, Inc. (NYSE NYSE See: New York Stock Exchange :ABS (Automatic Backup System) See backup program. ) Board of Directors has adopted a new program authorizing, but not requiring, the Company to purchase and retire up to $500 million of the Company's common stock during the period beginning April 25, 2000, and ending April 30, 2001. The timing and quantity of such purchases, if made, are at the Company's discretion. "We are confident the merger with American Stores American Stores was the name of a United States chain of supermarkets. It was formed in 1917 when Acme Markets merged with four other Philadelphia area grocery chains into American Stores. American Stores would grow to 1,700 stores in 40 states with $15 billion in sales. has positioned the Company for long-term growth. With our strong financial position, we have the capacity to continue our current capital expenditure program and purchase our common stock," said Gary Michael, chairman and chief executive officer of Albertson's. "An investment in our stock at its current price is one of the best investments we can make." Albertson's, Inc. is one of the largest retail food and drug chains in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Based in Boise, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation). Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. , the Company currently operates 2,500 retail stores in 37 states across the United States. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion