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Mass Merchant

  • Activist investor Icahn reduces Family Dollar holdings

    Matthews, N.C. – Activist investor Carl Icahn, who had been pressuring Family Dollar to sell the company, has reduced his ownership stake in the company from 9.39% to 6.09%.

  • Wegmans plans 10 new stores

    Rochester, N.Y. – Wegmans Food Markets Inc. plans to open 10 new stores in the Northeast and mid-Atlantic regions. The stores include one in Maryland, two in Massachusetts, two in New Jersey, one in Pennsylvania, and four in Virginia.

  • Indian e-commerce provider Flipkart receives $1 billion funding

    Bangalore, India – Indian e-commerce platform Flipkart has received about $1 billion in funding from investors including existing backer Tiger Global Management, as well as new stakeholders Morgan Stanley and Singapore-based sovereign wealth fund GIC. Flipkart operates as an online marketplace for 3,000 individual merchants, similar to China’s Alibaba.com.

  • Whole Foods to join Regency center in Indiana

    Chicago - Regency Centers Corporation is starting construction on a new 40,000-sq.-ft.Whole Foods Market. The new store, located 25 miles from downtown Chicago in Schererville, Ind., is projected to open in the fall of 2015, joining existing tenants Homegoods, Gordmans, Ross Dress for Less, DSW Designer Shoe Warehouse and many others.

  • Walmart Labs buys Luvocracy social recommendation site

    San Bruno, Calif. – WalmartLabs, the division of Wal-Mart’s e-commerce operation dedicated to developing new technology, has purchased Luvocracy, an online community that helps consumers find products recommended by family members, friends and online influencers. Founded three years ago, Luvocracy was one of the first companies to enable the entire social shopping experience, from discovery to commerce, to occur within its app.

  • Tuesday Morning appoints Advance Auto vet to board

    Dallas -- Tuesday Morning Corp. has named Jim Wade, a 35-year retail veteran, as an independent member of the company's board of directors, effective immediately. He will serve on the company's Audit Committee.

    Wade currently serves on the board of directors and Finance Committee for Advance Auto Parts Inc. He first joined Advance Auto Parts in 1994 as treasurer, and retired as president in 2011 with responsibilities including store operations and both the DIY and commercial businesses.  

  • Fuel cell provider touts Walmart deal

    Walmart’s sustainability efforts are benefitting fuel cell provider Plug Power Inc., which said a contract it secured with the retailer earlier this year has already been expanded.

    Plug Power said it received an order from Walmart for a seventh on site hydrogen fuel cell power solution branded as GenKey.

    Plug Power entered into a contract with Walmart back in February for six of its GenKey solutions consisting of GenDrive fuel cells, GenFuel infrastructure construction and hydrogen fuel supply and GenCare on-site maintenance.

  • Brand Keys: Back-to-school spending to rise 9%

    New York - Households with school-aged children (pre-school through 12th grade) plan to spend more this year on back-to-school necessities with a predicted increase of 9 % for an average spend of $655, according to the 15th annual survey conducted by Brand Keys.

    Average anticipated spending in all major back-to-school categories reflect higher levels from 2013:

    Clothing: $348 (+16%)
    Shoes (athletic & dress) $127 (+15%)
    Supplies $ 89 (+13%)
    Computers/Electronics/
    Tablets/Smartphones: $213 (+12%)

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