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Weis announces $80 million capital investment budget

BY Michael Johnsen

SUNBURY, Pa. Weis Markets on Wednesday announced an $80 million capital investment budget, representing a 23 percent increase from last year, for the ensuing year at the company’s annual meeting here.

“We will target three quarters of this budget to our store base,” stated Jonathan Weis, Weis Markets vice chairman. “We currently have 19 major projects in various stages of planning, including three new stores, two replacement units, nine additions and five remodels.”

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Mattel to debut new ‘Honda Racer’ Hot Wheels

BY Doug Desjardins

TORRANCE, Calif. Mattel will unveil a new ‘Honda Racer’ Hot Wheels in May as part of its Hot Wheel’s Designer Challenge. The Honda Racer is 1/64th the size of a standard car and is shaped like Honda’s “H” emblem.

“The core concept is built around our idea for an ultimate racecar and leverages the design freedoms made possible by a scale model car,” said Honda senior designer Guillermo Gonzalez.

Honda is one of six auto makers invited to take part in the Designer’s Challenge that’s part of Mattel’s 40th anniversary celebration of its Hot Wheel’s brand of die-cast toy cars. In August, larger scale models of the Honda Racer and other cars will take part in a national Road Trip event.

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Mother’s Day spending expected to equal 2007

BY Doug Desjardins

WASHINGTON Consumers plan to spend about as much on Mother’s Day shopping this year as they did in 2007 despite higher gas prices and other economic woes, according to a survey by the National Retail Federation.

The NRF survey showed consumers on average are going to spend $138.63 on Mother’s Day shopping this year, a drop of less than 1 percent from last year ($139.14).

While fewer consumers plan to make jewelry their gift of choice this year (29.7 percent compared to 32.8 percent in 2007), they’re expected to spend $2.7 billion in the category. Consumers are also projected to spend $3 billion on dinners and brunch, $2 billion on flowers, $1.4 billion on clothing and $1.2 billion on consumer electronics like digital photo frames and cameras.

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