Corporate Governance

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.

MOSCOW — Gap Inc. announced that it has opened its first Banana Republic store in Russia through its franchise channel. The company also announced that it will open its first Gap store in Serbia on Friday. This store will represent the company’s 200th franchise store globally.

WAYNE, N.J. — Toys"R"Us, which continues to implement its store integration strategy, has announced that it has improved its e-commerce, mobile and in-store shopping experience. 

Part of its multi-channel improvement effort, the company has enhanced its "buy online, pick up in store" program by giving shoppers the ability to designate an alternate person to pick up their order through "family and friends pick Up."  

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.

EDEN PRAIRIE, Minn. — Supervalu has 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.

The prospect of learning how RFID can improve supply chain performance and the bottom line is the focus of the fourth annual RFID Forum to be held Oct. 25 to 26 in Fayetteville, Ark. The event is a creation of the Council of Supply Chain Management Professionals (CSCMP), the University of Arkansas RFID Research Centers and the Voluntary Interindustry Commerce Solutions (VICS) Association.

ORANGE, Calif. — Naturade on Wednesday announced the mass-market introduction of HealthSmart, a doctor-formulated daily protein shake mix that will serve as a comprehensive source of nutrition for active adults. 

Endorsed by baseball hall of famer George Brett, HealthSmart contains 18 g of whey, soy, pea and rice protein isolates, and is fortified with omega 3s and antioxidants for heart health, probiotics and fiber for healthy digestion, and 24 vitamins and minerals.

Walmart's U.K. subsidiary Asda announced that it has mobilized its grocery site to enable shoppung from a smartphone. 

According to Asda, the new mobile-optimised site offers all of the features on the main Asda.com grocery website – meaning customers can register, shop and amend an existing order or delivery slot up until 10 p.m. the day before their delivery is due.

The new mobile optimised site also includes a mobile store locator, offering maps and directions so customers can find their nearest Asda when they are out and about, the company reported.

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.

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.