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Strategy

  • Walmart expands payment partnership

    As the battle between Walmart Canada and Visa over interchange rates rages on, Walmart Stores is making more strategic moves with Chase.    Walmart will now process credit and debit payments on ChaseNet, the bank's closed-loop network, across its 5,000-plus Walmart and Sam’s Club locations in the U.S., and on the Sam’s Club e-commerce site. Chase already processes payments for Walmart’s e-commerce channel.  

  • Bed Bath & Beyond misses in Q2

    Bed Bath & Beyond Inc. reported second quarter earnings below expectations amid lower sales. But it reaffirmed its profit forecast for the year.   The chain earned $167.3 million, or $1.11 a share, in the quarter, compared with $201.7 million, or $1.21 a share, in the year-ago period.   Sales inched down 0.2% $2.98 billion, down from $2.99 billion a year ago. Same-store sales fell 1.2%.  

  • Accenture to acquire consulting firm Kurt Salmon

    Accenture, a global professional services company, has entered into an agreement to acquire Kurt Salmon, a global strategy consulting firm focused on the retail industry.   The acquisition will expand Accenture Strategy’s capabilities in delivering strategy consulting services to retailers and private equity firms in a world disrupted by digital.
   

  • Nordstrom shifts responsibilities of top executives

    Photo: Ken Worzel   Top executives at department store retailer Nordstrom have been given new responsibilities.   The retailer said it has appointed Ken Worzel as president, Nordstrom.com. in a move to further accelerate its e-commerce, digital and mobile efforts.  

  • Dunkin’ Donuts nabs McDonald’s veteran for executive role

    A longtime McDonald’s veteran has joined the fast-growing Dunkin’ Donuts.    Dunkin' Brands Group, parent company of Dunkin' Donuts and Baskin-Robbins, announced that David Hoffmann has been appointed president of Dunkin' Donuts U.S. and Canada, effective Oc. 3.   

  • Ikea names contractors and other key players for new Texas location

    Ikea has moved closer to breaking ground on its second location in the Dallas-Fort Worth-area store.   The home furnishings retailer announced it has hired the contractors to build its store in Grand Prairie, Texas. Groundbreaking for the planned 290,000-sq.-ft. store is expected next month. It’s expected to open in fall 2017.   Ikea has chosen Mycon General Contractors, Dallas, to serve as construction manager for the Grand Prairie site work and store development project.   

  • Shakeup at American Apparel: CEO to step down

    Photo: Paula Schneider    The saga continues at American Apparel.   Paula Schneider plans to step down as CEO of the apparel retailer on Oct. 3, according to yahoo.com, which cited a report by Women’s Wear Daily. Schneider will be replaced by the company’s general counsel and chief administrative officer, Chelsea Grayson.  

  • Yahoo confirms massive data breach rumors

    After keeping mum about a potential far-reaching data breach, Yahoo has finally come clean.   The search engine company confirmed today that account information for approximately 500 million users was stolen from the company’s network in late 2014.  

  • Now Trending: Online’s impact on store sales is vastly overstated

    The narrative is well established: Online sales are rising dramatically and having a major impact on brick-and-mortar retailers. The facts, however, are not quite so cut and dried. Internet sales still account for a remarkably small overall percentage of U.S. retail sales. A quarter century after Amazon’s first shipment was mailed, the Web accounts for less than 9% of U.S. retail sales. With sales of $500 billion, Walmart alone is the equivalent of six Amazons.  

  • Report: 7-Eleven plans major expansion

    The parent company of 7-Eleven wants to more than double its store portfolio in the United States.   Seven-Eleven Japan Co. is looking to open thousands of new stores in the U.S., increasing its current total of approximately 8,500 locations to 20,000, The Japan Times reported.    
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