Chain Store Age’s annual Retail Construction Survey shows Home Depot and Lowe’s among the retail industry’s top-10 leaders in capital expenditures.
Lowe’s ranked sixth among retailers with $1.4 billion in capital expenditures, and Home Depot ranked eighth, with $1.1 billion.
Wal-Mart stores ranks first on the list -- way out in the lead with $7 billion to $7.5 billion in capital spending.
Overall, capital expenditures by retailers as reported in the magazine’s annual Construction Survey fell by nearly $2 billion. One of the trends identified by the reports authors: Major chains, including Target, Wal-Mart and Office Depot, are emphasizing smaller stores in urban areas.
Number 21 on the list, Sears Holdings’ capital spending declined from $432 million to $400 million.
Chain Store Age is published by Lebhar-Friedman, which also publishes HCN.