Corporate Governance

Mexico City, Mexico - Grupo Financiero Inbursa, a banking firm owned by Mexican billionaire Carlos Slim, has reportedly bought the bank division of Wal-Mart de Mexico (Walmex) for $246.94 million, or 1.7 times Walmex’s bank capital.

 

According to Reuters, Walmex has been focusing on selling its non-core assets, such as its restaurant division, in the past year.

Franklin, Tenn. - Vendors are leaving billions on the table because they forget to market to the chief marketing officer (CMO) rather than just the CIO and IT department.  According to a new study from IHL Group, “Hidden Treasure – The CMO’s Budget in Retail,” in 2015, the amount of IT purchased through the CMO’s budget will amount to $7.5 billion in North America.  

Oakbrook Terrace, Illinois - Mid-America Real Estate Corporation recently announced the promotions of two employees to Principals and two employees to Senior VPs.   Joe Girardi is a member of Mid-America’s Shopping Center Investment Sales team, and has been promoted to a Principal of Mid-America Real Estate Corporation. He has been with Mid-America since 2003, and has been directly involved in the completion of over $2 billion of retail investment sale transactions.   

Cary, N.C. – Canadian convenience store conglomerate Alimentation Couche-Tard Inc., which operates stores under the Circle K banner in the U.S., has agreed to purchase The Pantry Inc., operator of the Kangaroo Express convenience/fuel chain, for $1.7 billion. Purchase price includes $861 million in cash and about $840 million in assumed debt.  

Walmart is instituting new rules on poultry safety as the company looks to protect customers from foodborne illness.

Walmart’s enhanced poultry safety measures will require poultry suppliers to achieve prevention-based certification by one of the Global Food Safety Initiative's recognized standards. Walmart said poultry suppliers must implement "holistic controls" from farm to fork; the controls must significantly reduce potential contamination levels, including chicken parts.

Grand Rapids, Mich. - Meijer made the holidays very merry for 213 unsuspecting customers recently when those shoppers received a big surprise upon checkout – their entire shopping cart filled with gifts and groceries given to them as a holiday gift.

During the “Very Merry Meijer” event, one customer at each of the retailer's 213 stores across the Midwest was randomly selected on Dec. 13 to receive their purchases free.

Meijer has made the holidays a lot merrier for 213 very special customers.

The retailer picked 213 customers at random to get a big surprise at checkout: their entire shopping cart filled with gifts and groceries was given to them as a holiday gift.

MINNEAPOLIS — Target chairman and CEO Brian Cornell, who took the helm earlier this year, is making a string of executive changes to help fuel the retailer's digital transformation and enhance the guest experience.