Walmart, the largest food retailer in the United States, will take part in an announcement with the first lady at the White House on Wednesday afternoon. Supervalu Inc (SVU.N) and Walgreen Co (WAG.N) are also participating.
All three chains announced plans to open stores in so-called "food desert" parts of the country, where people lack access to grocery stores and their fresh produce and meats. According to data provided by Supervalu, there are more than 23 million people, including more than 6 million children, live in U.S. food deserts.
Wednesday, July 20, 2011
Corporations Bringing Food To the Un-Fooded.
This should work well for society as well as shareholder's wallets. Everyone wins. Hooray!
To put in perspective the 250 Save-a-lots that Supervalu plans to open: this alone will increase the company's store count by more than 10% in the next 5 years... AND they tend to be really good stores for the company to own/operate/franchise.
Disclosure: I own LEAP call options of SVU. This is not advice of any kind. Always do a ton of your own research in regard to anything that I say, do, write, or so much as even think about.