Strategy

Brookfield Asset Management announced the completion of its deal to acquire Rouse Properties at a price of $18.25 per share.   Rouse will be merged with Brookfield’s BSREP II Retailing Pool LLC affiliate and the acquired company’s stock will be delisted from the New York Stock Exchange.  

Payment processing platform Worldpay isn’t naming names, but appears to be owning up to playing a major role in the Etsy transactional outage.   Since July 1, what Etsy has described as a third-party payments processing issue has stalled thousands or even millions of online transactions. In a running thread on the online marketplace’s “Bugs” community forum, some users have been posting that their delayed orders have gone through, but others still complain of inability to process payments.  

Alex Cesar, who had been running JLL’s retail department in Brazil, has been hired by RKF to head up its Miami office.   “Alex will be a crucial driver of our expansion in South Florida and will strengthen the bridge between the Latin American and U.S. retail markets,” said RKF CEO Robert Futterman in announcing the move.  

Operating seven stores, McLendon Hardware Inc. may not seem like a top target for a customer data breach.   However, the Renton, Washington-based chain understands that no retailer of any size is immune to the risk of having sensitive customer data stolen by cybercriminals. That is why McLendon utilizes an Epicor deployment of the Hewlett Packard Enterprise (HPE) SecureData Payment security solution.  

With nearly 1,300 locations spread across 34 states, Ross Dress for Less makes the claim that it is the nation’s largest off-price apparel and home fashion chain. With a mass grand opening of 24 more stores set for July, the chain clearly intends to hold on to that distinction.   New Ross locations will spring up in 14 states, with Wisconsin hosting four of them -- in Brown River, Onalaska, Racine, and West Green Bay.   

The Walmart Pay mobile digital payment service only began formal rollout in May 2016, but has already reached an impressive goal.   Initially announced in December 2015, Walmart Pay is now available of all of Walmart’s more than 4,600 U.S. stores. Available through the Walmart app for iOS and Android devices, Walmart Pay works at all checkout lanes, and with any credit, debit, pre-paid or Walmart gift card.  

Walgreens Boots Alliance may not have to shutter as many stores in the wake of its planned merger with Rite Aid as it once thought.   

Publix is joining Costco, Whole Foods and other retailers in providing grocery delivery service through a partnership with Instacart.   Publix announced Wednesday that it would begin its Instacart service in select areas of Miami beginning July 12. Instacart is an e-commerce and delivery service that allows customers to place their grocery orders online and have their items delivered right to their doorsteps. Customers can place orders by visiting www.instacart.com/publix.  

Supervalu Inc. will serve as primary wholesaler for Indianapolis-based Marsh Supermarkets.   Supervalu has entered into a long-term supply agreement with, and will also provide some professional services to Marsh, which operates approximately 70 Marsh Supermarkets and O’Malia Food Markets stores across Indiana and Ohio. Marsh also operates 38 pharmacy locations.  

Petco will not be taking it easy this summer.   As part of a 2016 growth plan which includes 26 new Petco stores and one new Unleashed by Petco location, the specialty pet supplies retailer will open five new Petco stores across the country in July. In addition to the five new stores, the company is also remodeling 12 stores in Seattle, one in San Diego, expanding one store in Heath, Ohio, and relocating one store in Middleburg Heights, Ohio.