Mergers & Acquisitions

Old Bridge, N.J. -- Driven by new big-box store closures, the vacancy rate in retail properties along northern New Jersey's six major shopping corridors edged up to 8.2% in April from 8.1% a year ago and 8.0% in 2010, according to R.J. Brunelli & Co.

Roseville, Calif. -- Revionics, a provider of price optimization systems, announced it has acquired the business and related assets of Retail Optimization, New Haven, Conn., a provider of cloud-based assortment and space optimization systems. Terms were not disclosed.

New York -- A report released Monday by A.T. Kearney showed that Brazil once again first among developing countries for global retail expansion.

A.T. Kearney’s Global Consumer Institute’s 2012 Global Retail Development Index ranks the top 30 developing countries for global retail expansion.

New York -- A Monday report by Reuters said that New York City's pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials.
 
The suit, filed in Delaware Chancery Court, alleges that Wal-Mart's officers and board of directors breached their fiduciary duty to both the company and shareholders by failing to properly handle claims of alleged bribery and apparently attempting to cover up details of the issue.

Sunbury, Pa. -- Weis Markets has closed on its purchase of three former Genuardi's stores and is slated to reopen them on June 16.

Ahead of the three openings -- in Conshohocken, Doylestown and East Norristown, Pa. – Weis said it opened each store's pharmacy Monday at noon to minimize prescription service disruption.

 

New York -- Martha Stewart Living Omnimedia said Monday it has named Michael Robinson to the newly created position of VP e-commerce.

Robinson was most recently Anthropologie’s head of e-commerce for Europe and United Kingdom, and was responsible for launching the Anthropologie catalog and website in 1998, as well as introducing the retailer’s loyalty card program.

He has also held managerial and planning positions with Banana Republic and Smith & Hawken.

SUNBURY, Pa. — Weis Markets has closed on its purchase of three former Genuardi's stores and is slated to reopen them this weekend.

In advance of these store openings on June 16, located in Conshohocken, Doylestown and East Norristown, Pa., Weis said it will reopen each store's pharmacy Monday at 12 noon to minimize prescription service disruption.

Weis added that it has hired 218 former Genuardi employees and has added 150 positions, which will allow each store to double the number of cashiers it employs and increase front-end service.

One of the biggest gripes residents of Northwest Arkansas have of the region, be they long time residents or recent transplants, is that Walmart is the only game in town when it comes to groceries. That situation will change later this summer when The Fresh Market opens its first location in Rogers.