By George Anderson
Hy-Vee plans to significantly raise its spending on capital expenditures next year, says the web site for Supermarket News. Next year, the chain plans on spending $190 million up from current levels of approximately $140 - $150 million.
The chairman of Hy-Vee, Ron Pearson, indicated that the spending boost was the result of the company's plan to expand into new markets. Mr. Pearson cited the attractiveness of loan rates and terms as another factor in the decision.
Moderator's Comment: What is the key to Hy-Vee's success?
If we were to put one word to it, we would pick "independence". Hy-Vee gives its store managers the associates and tools and then gets out of their way to let them run their businesses. [George Anderson - Moderator]