AutoNation, Asbury boost spending plans

摘要

Two of the nation's largest publicly owned retailers are preparing to invest more in their businesses in 2014 than they did last year, according to numbers released with those companies' 2013 earnings reports. Several other publicly owned groups haven't released their 2013 results or 2014 plans. AutoNation Inc., the country's largest dealership group, is planning capital expenditures of $150 million or more this year, CEO Mike Jackson said. That would be a 6 percent increase from the $141 million AutoNation spent in 2013. The $150 million-plus capital expenditure budget will be spent primarily on new or renovated dealership facilities, Jackson said. When it comes to prioritizing investment, "We always look at the existing business first," he told Automotive News.