Content about Commerce

January 30, 2013
Most Canadian retailers ready for penny phase-out

Most retailers in Canada are ready for a phase-out of one-cent coins, a national retailing trade group said.

Toronto -- Most retailers in Canada are ready for a phase-out of one-cent coins, a national retailing trade group said Wednesday.

The Retail Council of Canada said the majority of the country's retail businesses were prepared for the disappearance of the penny and will follow the government's proposals for determining prices.

January 24, 2013
Management shakeup at 99 Cents Only Stores; CEO out

The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

City of Commerce, Calif. -- The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

The retailer said that Eric Schiffer (CEO), Jeff Gold (president) and Howard Gold (EVP) are “no longer employed by the company” and that Richard Anicetti has been named interim CEO. Schiffer is the son-in-law of founder David Gold while Jeff and Howard are his sons.

January 4, 2013
Traffic Intelligence: The Science of Shopper Conversion

By Craig Szklany and Mark Stier, Tyco Retail Solutions

By Craig Szklany, cszklany@tycoint.com and Mark Stier, mstier@tycoint.com
 

December 27, 2012
Focus on: Loss Prevention

Total losses attributed to retail shrinkage hit $34.5 billion last year, “positioning retail crime as the largest form of property crime,” according to Dr. Richard Hollinger, professor of criminology, law and society, University of Florida, Gainesville, Fla. And it shows no signs of easing anytime soon. Indeed, the rate of shrink remains on a five-year climb, according to the Loss Prevention Research Council (LPRC), Gainesville, Fla.

November 27, 2012
The Cash Office Goes High-Tech

Traditionally, cash office management and the reconciliation process have relied on manual procedures, such as counting currency and coin by hand, creating handwritten check deposits, and keying totals into the POS system. Many retailers have used the same cash office procedures for years, with the procedures inconsistently executed from store to store. Chain Store Age talked with Balance Innovations’ Janette Davis about how technology is bringing new efficiencies to cash office management.

September 26, 2012
SoloHealth Stations to roll out in Sam's Club locations nationwide

Sam's Club has become the first warehouse club retailer to install SoloHealth's comprehensive health-and-wellness screening kiosks, SoloHealth announced.

Atlanta -- Sam's Club has become the first warehouse club retailer to install SoloHealth's comprehensive health-and-wellness screening kiosks, SoloHealth announced Wednesday.

SoloHealth said it will begin the rollout of its SoloHealth Station to more than 500 Sam's Club locations nationwide. The kiosks, currently available in select U.S. retail locations, is expected to be in more than 2,500 retail locations by mid-2013.

August 22, 2012
Report: Rona dealers critical of Lowe’s offer

A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

New York -- A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

The letter, which was addressed to Lowe's CEO Robert Niblock, was signed by merchants that operate 164 affiliate or franchise Rona stores.

August 21, 2012
McDonald’s, PayPal testing mobile payments

McDonald’s Corp. is testing a mobile payments service with PayPal in 30 McDonald’s locations in France.

New York -- McDonald’s Corp. is testing a mobile payments service with PayPal in 30 McDonald’s locations in France.

Using the service, McDonald's customers can order food on smartphones through a McDonald's application, or online, and then pay for their food with PayPal via either the McDonald’s mobile app or a web browser. There is a separate line in the test locations to pick up the meals, according to a report in the Chicago Tribune.

August 20, 2012
Supervalu names president of Shoppers

Supervalu announced that Robert Bly will join the company as president of Shoppers Food and Pharmacy, a 56-store chain in the Baltimore, and Washington, D.C., market.

Minneapolis -- Supervalu announced that Robert Bly will join the company as president of Shoppers Food and Pharmacy, a 56-store chain in the Baltimore, and Washington, D.C., market.

Bly, 49, most recently served as VP of Kmart and Sears divisions for the Sears Holdings Co. He is expected to begin his new role on Aug. 22 and will report to Chuck Elias, senior VP retail operations.

Bly replaces Tim Lowe, who recently accepted a new leadership role in Supervalu's merchandising organization.
 

August 15, 2012
Wal-Mart Mexico hit with new tax and money-laundering allegations

Multiple reports revealed that Wal-Mart Stores’ Mexican arm has been leveled with new allegations concerning tax evasion and money-laundering schemes.

Mexico City -- Multiple reports on Wednesday revealed that Wal-Mart Stores’ Mexican arm has been leveled with new allegations concerning tax evasion and money-laundering schemes.

The accusations against Walmex were outlined in a letter by U.S. Rep. Henry Waxman, sent Tuesday to Wal-Mart CEO Michael Duke and suggesting that the company “"may have had compliance issues relating not only to bribery, but also to 'questionable financial behavior' including tax evasion and money laundering in Mexico."

July 31, 2012
Canadian home-improvement chain rebuffs Lowe’s offer to acquire

Lowe’s Cos. confirmed a July 8 proposal to acquire Canadian home-improvement and hardware retailer Rona, but said the Quebec-based chain rejected the $1.9 billion offer.

Mooresville, N.C. -- Lowe’s Cos. on Tuesday confirmed a July 8 proposal to acquire Canadian home-improvement and hardware retailer Rona, but said the Quebec-based chain rejected the $1.9 billion offer.

According to the 800-store Rona, the sale to Lowe’s would not be in its best interests.

"Rona's strategic focus remains to execute on its business plan with a view to capturing the significant opportunities that it sees for the business," Rona said in a statement.

July 25, 2012
Two R.I. Shaw's stores achieve zero-waste landmark

Supervalu banner Shaw's announced that two of its Rhode Island locations diverted more than 90% of store waste from local landfills as part of the company's zero-waste program.

West Bridgewater, Mass. -- Supervalu banner Shaw's announced that two of its Rhode Island locations diverted more than 90% of store waste from local landfills as part of the company's zero-waste program.

Shaw's said its Barrington and Cranston stores achieved total waste diversion of 90.76% and 90.81%, respectively. In addition to the two new zero-waste stores in Rhode Island, the Shaw's Lancaster, N.H., store also is one of the newest to join the zero-waste program, bringing the company total to eight.

July 19, 2012
Moody’s on Credit Card Interchange Fee Settlement

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said  Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

July 19, 2012
Safeway profit slips in Q2; on track to open 10 Lifestyle stores in 2012

Safeway Inc. reported that profit for the second quarter dropped to $121.7 million from $146 million in the same period last year.

Pleasanton, Calif. -- Safeway Inc. reported Thursday that profit for the second quarter dropped to $121.7 million from $146 million in the same period last year.

Sales inched up 1.9% to $10.4 billion, and same-store sales rose 0.8%.

For the year, Safeway said it expects to invest $900 million in capital expenditures to open approximately 10 new Lifestyle stores, complete 10 Lifestyle remodels, refurbish in-store pharmacies and develop properties through its Property Development Centers subsidiary.
 

July 13, 2012
CBRE: Hong Kong and New York are world’s most expensive retail destinations

Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group.

London -- Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group. CBRE cited the city’s significant inbound tourist traffic and continued increases in domestic wealth as fueling demand from international fashion and luxury retailers.
 

July 12, 2012
Carrefour sales fall, reaffirms profit expectations

French retail giant Carrefour reported that sales in the second quarter dipped 0.3% to $26.5 billion, beating analysts’ expectations and prompting the retailer to issue earnings guidance to match 2012 expectations of $2.5 to $2.6 billion.

Paris -- French retail giant Carrefour reported Thursday that sales in the second quarter dipped 0.3% to $26.5 billion, beating analysts’ expectations and prompting the retailer to issue earnings guidance to match 2012 expectations of $2.5 to $2.6 billion.

July 12, 2012
Supervalu Q1 profit plunges, initiates strategic review

Grocery giant Supervalu Inc. reported for the quarter ended June 16 plummeted 45% to $41 million, compared with $74 million in the year-ago period.

Minneapolis -- Grocery giant Supervalu Inc. reported Wednesday that profit for the quarter ended June 16 plummeted 45% to $41 million, compared with $74 million in the year-ago period. The struggling parent to Albertsons, Jewel-Osco and Save-A-Lot grocery banners, among others, had begun to show improvement in its fourth quarter, but tumbling revenues have halted the forward momentum.

Sales dropped to $10.59 billion, from $11.11 billion in the same period last year, and missed Wall Street’s forecasted $10.61 billion in revenue.

July 10, 2012
Wal-Mart de Mexico June sales rise 5.3%

Walmex, Mexico’s largest retailer, reported that same-store sales for the month of June rose 5.3%.

Mexico City – Walmex, Mexico’s largest retailer, reported Monday that same-store sales for the month of June rose 5.3%. Total sales in June jumped 15%.

The retailer opened 26 stores and restaurants in June, after announcing it was reducing planned store openings to between 325 and 335 this year from a previously announced 410 to 436 stores.
 

July 2, 2012
Report: Tesco could exit U.S. if Fresh & Easy doesn’t improve

U.K. retailing giant Tesco PLC could give up its American supermarket venture, Fresh & Easy Neighborhood Market, if the chain continues to disappoint and not make a profit, RetailWeek and other British news organizations reported.

New York -- U.K. retailing giant Tesco PLC could give up its American supermarket venture, Fresh & Easy Neighborhood Market, if the chain continues to disappoint and not make a profit, RetailWeek and other British news organizations reported.

In remarks at the company’s annual meeting on Friday, Tesco CEO Philip Clarke said: “If we see there is no chance of success, we’ll do as we’ve just done in Japan,” referring to Tesco’s deal this month to exit that market.

June 26, 2012
Best Buy launches Best Buy Mobile in Five Star stores in China

Best Buy announced it is expanding the Best Buy Mobile brand and store-within-a-store concept into 14 Five Star stores throughout Nanjing, China, this summer.

Minneapolis -- Best Buy announced Tuesday it is expanding the Best Buy Mobile brand and store-within-a-store concept into 14 Five Star stores throughout Nanjing, China, this summer.

The expansion of Best Buy Mobile into the Chinese market is the first evolution of Global Connect, a partnership that was formed in November 2011 between Best Buy and Carphone Warehouse.

June 21, 2012
Wal-Mart Mexico cuts 2012 store openings as new procedures delay process

Wal-Mart Stores’ Mexico subsidiary said that new store openings for 2012 will be cut from the originally planned 410 to 430 stores to 325 to 335, due in large part to added real estate documentation procedures.

Mexico City -- Wal-Mart Stores’ Mexico subsidiary said Wednesday that new store openings for 2012 will be cut from the originally planned 410 to 430 stores to 325 to 335, due in large part to added real estate documentation procedures.

Expansion plans for new stores will be delayed by 60 to 90 days, said Wal-Mart Mexico, as the retailer institutes reinforced documentation around real estate projects. Wal-Mart Mexico has been in the throes of a bribery scandal involving alleged payments to middlemen to accelerate the store-opening process.

June 18, 2012
Tesco to leave Japan

Tesco PLC is leaving the Japanese retail market after nine years.

New York -- Tesco PLC is leaving the Japanese retail market after nine years. The company will sell 50% of Tesco Japan to Aeon Co., Japan’s largest retail group.

Tesco said it will form a joint venture with Aeon and invest £40 million ($63 million), then sell the remaining 50% to Aeon at a later date.

June 15, 2012
Carrefour to exit Greece

Carrefour SA said it will sell its Greek supermarket business to its local partner and exit the country, the Wall Street Journal reported.

New York -- Carrefour SA said Friday it will sell its Greek supermarket business to its local partner and exit the country, the Wall Street Journal reported.

The French retailer said it would sell its 50% stake in the chain to its local partner, the Marinopoulos family, for an undisclosed amount and will take a mostly noncash charge of €220 million ($277.9 million), the report said.

Carrefour’s announcement comes two days before elections that could prove key as to whether Greece decides to stays in the euro zone.

May 22, 2012
Legal expert joins Sears Canada board

Sears Canada has named Don Ross to its board of directors, effective immediately.

Toronto — Sears Canada has named Don Ross to its board of directors, effective immediately.  Ross is a partner at a prominent law firm in Toronto and is a member of the Law Society of Upper Canada, the New York State Bar Association, and the Canadian, American and International Bar Associations.

Sears Canada also announced today the resignation from the board of Deidra Merriwether, SVP and president retail services of Sears Holdings.

May 17, 2012
Sears Holdings swings to profit in Q1, to spin off minority stake in Sears Canada

Sears Holdings Corp. reported that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year. The improvement was due largely to a $233-million gain from selling off some of its stores.