Corporate Governance

NRF survey details retailers’ $44 billion problem
Washington, D.C. - Retailers lose billions of dollars to shoplifting, employee and vendor theft and administrative error, collectively known as inventory shrink.

According to the National Retail Federation (NRF)/University of Florida National Retail Security Survey, inventory shrink averaged 1.38% of retail sales, or $44 billion, in 2014. (The methodology for the survey changed in 2015 and as such, NRF does not have comparable data from prior years for this year’s report.) The report was sponsored by The Retail Equation.
Report: A major retailer boosting minimum wage — again
Conshohocken, Pa. – Home furnishings giant Ikea is increasing the minimum wage it pays to U.S. employees in stores and some distribution centers for the second straight year.

According to the Associated Press, Ikea’s average U.S. minimum hourly wage will rise about 10% to $11.87 from $10.76 as of Jan. 1, 2016.

Alibaba thinks, acts globally

Beijing, China - Alibaba Group Holding Ltd. is both thinking and acting globally with a major expansion of its cross-border e-commerce initiatives. Alibaba’s new global effort includes the launch of 11 official country pavilions on its Tmall Global platform.
Deliv acquires Chicago delivery start-up

Menlo Park, Calif. - Same-day delivery company Deliv has acquired WeDeliver, a Chicago-based delivery service that powers same-day delivery for local retailers. Launched in early 2013, WeDeliver provides same-day delivery services for more than 200 retailers in the Chicago area
True Value adds partner in Puerto Rico

Chicago - True Value Co. has added National Lumber and Hardware, a 50-plus-store chain in Puerto Rico, as the newest purchasing partner of the cooperative. The growth of True Value’s international presence is a key initiative as the company focuses on its long-term strategic plan.

“We’re excited to enter into this new relationship with National as this marks an important expansion of the Puerto Rican market for True Value,” said Lars Hybel, VP of International, True Value Co.
Ahold, Delhaize in $29 billion merger

New York -- The combination of Royal Ahold and Delhaize Groupe creates a new super-regional chain along the Eastern Seaboard that will serve 50 million customers weekly and generate annual sales of more than $60 billion.

The merger announcement was highly anticipated following months of speculation followed by confirmation of talks between the companies. Now that the merger agreement has been reached, Ahold and Delhaize said they expect the deal to close by mid-2016.
Ahold/Delhaize deal done to create 6,500 unit grocer

The combination of Royal Ahold and Delhaize Groupe creates a new super-regional chain along the Eastern Seaboard that will serve 50 million customers weekly and generate annual sales of more than $60 billion.

The merger announcement was highly anticipated following months of speculation followed by confirmation of talks between the companies. Now that the merger agreement has been reached, Ahold and Delhaize said they expect the deal to close by mid-2016.
NRF details retailers' $44B problem

Retailers are losing billions of dollars to shoplifting, employee/vendor theft and administrative error, according to the National Retail Federation.
True Value growing in the Caribbean

True Value Company is expanding its presence in Puerto Rico, part of a long-term strategy to boost its global presence.
NYC: Whole Foods rotten in the Big Apple

An investigation of Whole Foods Market stores in New York City has found systemic overcharging of its customers for prepackaged food, according to government officials.
No wonder Ahold and Delhaize merged

Walmart Neighborhood Markets offer a compelling source of new sales growth for the company, Moody’s says in a new report.

Despite strategic shifts to compete more successfully with the company, traditional supermarkets will feel the pressure as Walmart moves to increase its already dominant share of the U.S. grocery segment.
Amazon makes Echo AI voice device widely available

Seattle – Amazon.com is releasing its Echo voice-activated artificial intelligence device for general availability in July, and taking consumer orders now. Echo was made available on an invitation basis to customers who wanted to help shape the device in November 2014.