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January 18, 2011
Massmart shareholders approved the sale of 51 percent of its shares to U.S. retail giant Wal-Mart for $2.45 billion.
Wal-Mart offered in late November to purchase ordinary shares of Massmart for $21.47 per share. The offer is a 19.2 percent premium on the 30-day weighted average price on Sept. 23.
January 18, 2011
Sometimes it's best to say you're sorry. Groupon's CEO, Andrew Mason, released a subtitled video on YouTube apologizing for problems Japanese customers experienced during a New Year's promotion. Groupon's deal-of-the-day site offers promotions and discounts to local markets.
January 18, 2011
Family Dollar Stores announced that it has named Paul White to the position of senior vice president of apparel, home and seasonal. White will report to Dorlisa Flur, executive vice president and chief merchandising officer.
January 18, 2011
Retailers better known for selling clothes or aspirin, including Walgreens, CVS/Pharmacy and Target, are expanding into the grocery business.
January 18, 2011
Results of the e-tailing group's 13th Annual Mystery Shopping Study recognized nine merchants out of the 100 benchmarked for excelling at online customer service.
January 18, 2011
LEXINGTON, SC (BRAIN)—The result of more than a year of development was introduced yesterday at the Hawley National Sales Meeting.
January 18, 2011
CUPERTINO, Calif. -- Steve Jobs, CEO of Apple Inc., has taken a medical leave of absence, Apple announced Monday. According to an SEC filing, Jobs will remain involved in major strategic decisions during this leave of absence, and COO Tim Cook will be responsible for Apple's day-to-day operations. In a letter to company employees, Jobs wrote, "I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy."
January 18, 2011
Sears, along with Bruno Schiavi's Jupi International, have teamed up with Kim, Khloe and Kourtney Kardashian to launch the Kardashian Kollection in 400 Sears stores nationwide in August.
January 18, 2011
eBay has completed its acquisition of brands4friends, an online shopping club site for fashion and lifestyle in Germany. eBay announced the acquisition on Dec. 20 and acquired the site for a transaction value of approximately $200 million in cash.
January 17, 2011
JOHANNESBURG (Dow Jones)--Shareholders in South Massmart Holdings Ltd. (MSM.
