Strategy

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.  

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.  

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.  

Century 21 Department Store is getting into the private label credit card game.   The off-price retailer is collaborating with Alliance Data Systems to launch the brand’s first private label credit card. By connecting customized rewards and benefits to the payment card, the retailer expects to drive engagement and brand loyalty.   

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.   

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%.  

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.    

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.