FRED MEYER: NEW RETAIL SERVICE CENTER PLANNED FOR CHEHALIS, WASH.
PORTLAND, Ore., June 24 /PRNewswire/ -- Fred Meyer (NYSE: FMY) announced today its intent to build a new retail service center in Chehalis, Wash., where the company plans to expand its distribution capabilities. "We just received approval by the board of directors to move forward with our efforts to purchase approximately 38 acres in the Chehalis Industrial Park of Lewis County for a 310,000-square-foot retail service center," Bob Miller, chairman of the board and chief executive officer of Fred Meyer, said. "The total cost of the project, including land, construction, fixtures and equipment, is approximately $16 million." Over the next five years, Fred Meyer plans to build at least 25 new full-size stores and complete 35 major remodels. Chehalis is centrally located between Fred Meyer's two largest markets. The Chehalis expansion will consolidate soft goods and music products, currently distributed from the company's facilities in Clackamas, Ore., Salt Lake City, and Kent, Wash. This consolidation will make room at the Clackamas Distribution Center, located outside Portland, for expansion of general merchandise product categories. The new service center is projected to operate round the clock and employ up to 100 people for each of its three shifts. The site is large enough to accommodate future expansion of the service center as the company grows. "We are optimistic that we can complete the purchase soon and move forward rapidly with the project this summer in order to get it done by next spring," Miller said. Fred Meyer is a leading regional retailer of a wide range of general merchandise, apparel, food, home electronics, fine jewelry and home improvement products sold in large one-stop-shopping stores ranging in size up to 200,000 square feet. The $2.85-billion retailer employs 24,000 people and operates 125 stores, including 94 of its large multidepartment stores in Oregon, Washington, Utah, Idaho, Alaska, Montana and California. Fred Meyer is headquartered in Portland and its stock is traded on the New York Stock Exchange. -0- 6/24/93 /CONTACT: Cheryl Perrin, senior vice president, Public Affairs, of Fred Meyer, 503-797-7421, or after hours, 503-452-4004/ (FMY)
CO: Fred Meyer Inc. ST: Washington, Oregon IN: REA SU:
JH-AL -- SE008 -- 5464 06/24/93 16:47 EDT
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|Date:||Jun 24, 1993|
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