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Wal-Mart Stores Inc. plans to expand its footprint in China by nearly a third by opening 115 new stores by 2017, the firm's chief executive said, in a renewed push to lure China's grocery shoppers despite slowing growth. "Our aim is to become an integral part of China's economy," Chief Executive Doug McMillon said at a news conference in Beijing on Wednesday. Wal-Mart's new push in China comes as global supermarket firms seek ways to tackle slowing growth in the world's second-biggest economy.
RadioShack has agreed to mediation with state attorneys general concerned about the electronic retailer's planned sale of customer data as part of its bankruptcy reorganization. A RadioShack attorney told a Delaware bankruptcy judge Tuesday that the mediation, which will include a consumer privacy ombudsman, will start May 14. That's after a scheduled May 11 auction for intellectual property assets, including the names and addresses of millions of RadioShack customers.
Coach is in a catch-22. Its discount outlet stores are driving most of its customer traffic and sales, while the company is trying to e
J.C. Penney is tapping former Mondelez International Chief Marketing Officer Mary Beth West to lead the company's marketing. Ms. West, who currently sits on the retailer's board of directors, will serve as J.C. Penney's executive vice president, chief customer and marketing officer beginning June 1. Ms. West, who had a long career at Kraft Food Group before assuming the top marketing role at Mondelez, will step down from J.C. Penney's board when she takes on the new role. She will replace Debra Berman, who departed in March after less than two years at the company.
A consortium of major retailers backing a mobile payments effort has appointed a new chief executive a day after member Best Buy announced it would support a competing system created by Apple. Merchant Customer Exchange (MCX) announced Tuesday that Dekkers Davidson was leaving the group "to pursue other opportunities." Davidson, who had served as MCX's chief since 2013, will be replaced on an interim basis by Brian Mooney, a former CEO of Bank of America Merchant Services.
Wal-Mart, J.C.Penney, The Children's Place and the government of Bangladesh have been sued by victims and families of victims of a garment factory collapse that killed more than 1,000 people two years ago. The lawsuit, filed in federal court in Washington, claims the retailers and the government were aware of the unsafe conditions. When the eight-story building collapsed on April 24, 2013, 1,129 people were killed and about 2,515 people were injured. Many of the people were women and children.
Apple just revealed a huge boost for its mobile payment offerings from retailer Best Buy. On an earnings conference call late Monday, Apple CEO Tim Cook said Best Buy would begin accepting payments via Apple Pay on Best Buy's iPhone app now, and in Best Buy's physical stores later in the year. Apple Pay, the service that lets folks pay for goods with the iPhone or the new Apple Watch, has struggled to add high-profile retailers since its launch in September with Whole Foods, McDonald's, Subway, Panera Bread and others.
Normcore? So last year. String bikinis? Most definitely over. Even interest in skinny jeans may be waning, if 6 billion fashion-related queries by Google users are any indication of this year's most popular trends. Instead, consumers are googling tulle skirts, midi skirts, palazzo pants and jogger pants, according to the company, which plans to start issuing fashion trend reports based on user searches twice a year. The new trend aggregations are part of the company's bid to become a bigger player in e-commerce and fashion beyond its product search engine or advertising platform.
In 2012, Amazon.com quietly launched AmazonSupply, the e-commerce company's foray into the unsexy but hugely lucrative world of B-to-B wholesale. By 2014, when Forbes covered the burgeoning business, AmazonSupply was already offering 2.2 million products for sale in 17 categories, from tools and home improvement to janitorial supplies. Industry insiders were already concerned about the potential impact of AmazonSupply on America's 35,000 distribution companies, almost all of which are regional and family-run. Could they compete with AmazonSupply's infrastructure and deep cache of consumer data?
Wal-Mart Stores Inc. was slow to get into alcohol, but now it's fighting for the right to sell more of it. A prime target is Texas, where the world's largest retailer has sued the Texas Alcoholic Beverage Commission, saying legal limits on sales of hard liquor are unconstitutional. One restriction prevents public companies — those with more than 35 shareholders — from selling spirits. The state beverage code also says no company can own more than five liquor stores unless permits for the others are bought from a blood relative.