Walmart

With few new grocery centers being built, developers are upping the ante on existing ones

Pat Donahue, together with his late brother Dan and business partner Tom Schriber, has been in grocery-anchored shopping centers since the ’90s. That’s when Schriber calculated that the company’s long-term fortunes, which had rested on mall development up until then, would be better wagered on high-traffic “necessity-based” retail.

“At malls you get ’em three times a month.

Bonobos has decided to move from a consumer file sync and share solution to enterprise-wide content management in the cloud.   The menswear retailer is deploying Box’s content management platform enterprise-wide for managing and collaborating on content in the cloud.  

On Aug. 8, Walmart announced it would buy Jet.com -- one of the fastest growing e-commerce companies in the U.S. -- for a whopping $3 billion.   

Shopko Stores confirmed Monday that executive VP of retail at Andre Persaud has left the company.

Wal-Mart Stores surprised the industry on Thursday with better-than-expected profit and revenue for the second quarter. The chain raised its full-year outlook in the wake of its strong performance.    The retailing giant reported that its net income rose 8.6% to $3.8 billion in the quarter ended, up from $3.5 billion in the year-ago period.    Total revenue rose 0.5% to $120.85 billion in the quarter, slightly above analysts' projection.   

The Northfield Crossing Shopping Center in Murfreesboro, Tennessee, that featured a Hastings Entertainment store has been purchased by Baker Storey McDonald Properties on behalf of an unnamed client. Terms of the sale were not disclosed.   Meanwhile, RCS Real Estate Advisors announced it would be auctioning off 120-plus store leases for the bankrupted music, movie, and video game retailer. The chain’s inventory was purchased by Hilco Merchant Resourses and Gordon Bros. Retail Partners in a Chapter 11 filing.   

Walmart and the Walmart Foundation on Monday made a commitment to provide support through cash and in-kind donations of $500,000 to organizations helping with relief efforts for those affected by the floods in Louisiana.   Working closely with the Salvation Army, American Red Cross and the Greater Baton Rouge Food Bank, coordination efforts are being made with elected officials and governmental entities across the region to meet the needs of those affected by the overwhelming flooding in the Louisiana region this week.  

Walmart has launched an unusual program to combat crime in its stores.   In an experiment, the chain is dealing with shoplifters on its own terms through an initiative called “Restorative Justice,” Time.com reported.