Finance & Capital Management

On the heels of announcing it would close more than 150 stores in the United States, Walmart says it will open 15 supercenters this month in Canada.

These grand openings bring Walmart Canada's total store count to 400 stores, including 312 supercenters and 88 discount stores. The company says its 15 supercenter projects represent an investment of more than $100 million and have generated approximately 700 new store jobs and 1,450 construction and trade jobs in that nation.

Macy’s announced that a Bloomingdale’s store will open in spring 2017 in Kuwait as part of the company’s strategic partnership with Al Tayer Group LLC.

This will be Bloomingdale’s second international location (the first opened in Dubai in 2010) and ahead of Macy’s and Bloomingdale’s stores scheduled to open in Abu Dhabi in 2018 – all in partnership with Al Tayer.

When providing the BDO retail IPO outlook for 2015 at the beginning of this year, we asked: Will consumer businesses face a potential Alibaba hangover in 2015?

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-sq.-ft. convenience and fuel center.

The Golub Corp., operators of the Price Chopper grocery store chain, named Scott Grimmett as president and CEO. Grimmett, who has been part of the family-owned company’s succession plan since joining Golub in January 2012 as executive VP and COO, is the first non-family member to head up the chain. He replaces Jerry Golub, who has been appointed vice chairman of the board

The largest single-day, private sector pay increase ever will take effect Feb. 20, when more than 1.2 million Walmart U.S. and Sam’s Club associates receive a pay increase.

The salary hike is the second phase of the company’s two-year, $2.7 billion investment in workers. But it is broader than the original plan, which was announced last fall.

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-square-foot convenience and fuel center. "The convenience store market in San Antonio has become increasingly competitive over the past few years, made even more so with local CST Brands agressive expansion plans," the business journal reported.

Marsh on Tuesday affirmed its commitment to the Bloomington, Indiana market and the company's two other Bloomington stores, 1825 Kinser Pike and 123 South Kingston Drive, following the closure of its location at 3600 West Third Street.

The Kinser Pike store will begin an extensive remodel immediately, Marsh reported, along with the copmany's Teal Road store in Lafayette, Indiana. Other recent remodels include Marsh's Kingston Drive store in Bloomington, as well as its Salisbury Street location in West Lafayette.

Genesco has sold a subsidiary that sells apparel and equipment to schools and youth sports programs to a larger Texas-based competitor.

BSN SPORTS, a division of Varsity Brands and a direct marketer and distributor of sporting goods to the school and league markets, announced that it has acquired Lids Team Sports from the Lids Sports Group, a division of Genesco Inc.

Staples is giving itself three more months before calling off its proposed $6.3 billion acquisition of Office Depot, giving the companies time to fight an antitrust lawsuit with the Federal Trade Commission.