Strategy

Bentonville, Ark. -- Wal-Mart Stores will introduce a holiday layaway plan effective Oct. 17 through Dec. 16. The program has a minimum layaway purchase of $50, and requires a 10% down payment. If the program is successful, Wal-Mart said it may extend it throughout the year.

When Wal-Mart phased out its previous layaway offer in September 2006, such programs had fallen out of popularity. But Sears and some merchants brought back layaways as the recession cut into spending.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that former UPS executive Raj Penkar is joining the company as SVP and president of the company's supply chain.

In his new role, Penkar will be accountable for all aspects of the company's supply chain, including logistics, warehousing, inventory management and distribution. Prior to joining Sears, Penkar worked at UPS for 24 years and most recently served as president of UPS' customer solutions division.

NEW YORK — The Private Label Manufacturers Association announced that Douglas Merrill will serve as the keynote speaker for the organization's 2011 Private Label Trade Show in November.

Merrill, who served as EVP engineering and chief information officer for Google from 2003 to 2008, will offer attendees perspective on how shoppers and shopping behaviors are changing, and what the coming retail marketplace will look like. The keynote speech will be presented at the annual PLMA Salute to Excellence Breakfast on Nov. 14.

MINNEAPOLIS — Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination. The move comes as Best Buy looks to grow its online business as it struggles to maintain leadership of a saturated consumer electronics market.

According to Best Buy, Best Buy Marketplace will increase the company's online product assortment by one third in time for holiday shopping.

Eden Prairie, Minn. --- Supervalu announced the sale of 107 fuel centers located in the Midwest, Intermountain West and West Coast regions following the acceptance of four separate bids to purchase the centers. The transactions include the majority of fuel centers within the Albertsons, Cub Foods, Hornbacher’s and Jewel-Osco banners.

San Francisco -- Gap has opened its first Banana Republic store in Russia, in Moscow's AfiMall City. In related news, the company will open its first Gap store in Belgrade, Serbia, on Friday.

“We are very proud to not only be introducing Banana Republic to Russia, but also opening our 200th franchise store,” said Stephen Sunnucks, president, international, Gap. “This is a significant landmark for our goal of growing our franchise store base to 400 by 2014.”

MIDWEST CITY, Okla. — Walmart is gearing up to open a Neighborhood Market store this month in Midwest City, Okla.

The 40,000-sq.-ft. format will offer customers quick access to low-cost groceries, prescriptions and household products. The store officially will open its doors on Sept. 21.

As previously reported, Walmart president and CEO Bill Simon said that the Neighborhood Market format is being rebranded as Walmart Market.

New York City -- McDonald's Canada is investing approximately $1 billion in an ambitious program to transform the look, feel and function of its more than 1,400 locations across the country. More than half of the stores are expected to be remodeled by yearend, with the rest completed by the end of 2012.