Retail

While the European Union continued to meltdown and Moody’s was downgrading major U.S. financial institutions, 800 representatives from leading retailer and CPG companies were gathered in Instanbul for the Consumer Goods Forum annual Global Summit.

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.

Walmart will have to trust that their @WalmartLabs team is ready to take on the growing challenges of the company's online business now that Venky Harinarayan and Anand Rajaraman have stepped down as co-heads.

Harinarayan and Rajaraman became the heads of @WalmartLabs last year when Walmart bought their company Kosmix as a means of enhancing its e-commerce platform through social media.

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WOONSOCKET, R.I. — Leveraging the deep understanding of its customer base via insights gained through its ExtraCare loyalty program, CVS/pharmacy officially unveiled on Thursday a new personalized digital experience on CVS.com, which features extensive health information and resources in addition to customized deals and savings information.

Best Buy has been in the news a lot lately, with the scandal involving former CEO Brian Dunn and subsequent resignation of founder and chairman Richard Shulze on top of a fiscal year that saw the company’s GAAP loss widen to $3.36 cents per share and comparable-store sales slip 1.7%.

Understanding that an image overhaul was needed, Best Buy’s leadership went on the offensive at its annual shareholders’ meeting Thursday, ensuring attendees that the company would once again become the leader in consumer electronics and services.

NEW ORLEANS — Recognizing that fighting retail crime is a collaborative effort, the National Retail Federation during its annual Loss Prevention Conference and Expo, the National Retail Federation honored six individuals that exhibited exemplary dedication and investigative skills in solving retail crimes.

NRF gave out its Law Enforcement Retail Partnership Award to the following people:

• Kebharu Smith, assistant U.S. attorney, Department of Justice – Houston office;

 

CINCINNATI — Marketing solutions provide Dunnhumby has hired Nishat Mehta, formerly of MicroStrategy, to lead the company’s growing global partner business. As EVP global partners, Mehta will be responsible for driving the global expansion and commercialization of Dunnhumby solutions, such as digital advertising, targeting and measurement, through strategic partnerships with data companies that deliver a comprehensive understanding of consumer behavior across channels. He will be based in New York City.