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Mass Merchant

  • Walmart evolves Canadian leadership too

    With its chief marketing officer, Michael Francis leaving to take on the role of president of JCPenney, Target is temporarily without an executive to head up its expansion into Canada, which should come as good news to Walmart Canada, which recently announced some leadership changes of its own.

    Former Asda executive and Walmart Canada CEO David Cheesewright has a new role that opens up some intriguing growth possibilities, given his new responsibilities include oversight of geographic areas where Walmart doesn’t currently operate stores.

  • Massmart to open 23 new stores over eight months

    Johannesburg, South Africa — A Bloomberg report on Sunday said that Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, Inc., will open 23 new outlets over the next eight months, part of its plan to not only expand its coverage area but also to add jobs in the region. The plan calls for 15,000 jobs over the next three years.

    The retailer also said it will repeat a price-cut promotion at its stores.

  • Leonard Green and CVC complete acquisition of BJ’s

    Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

    The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
     

  • NRF: Swipe fee cut will save merchants and consumers billions

    Washington, D.C. -- Retailers and their customers will save billions of dollars when new Federal Reserve regulations cutting debit-card swipe fees roughly in half take effect this weekend, the National Retail Federation said.

  • Nordstrom Rack to open in Temecula, Calif.

    Seattle -- Nordstrom announced plans to open a new Nordstrom Rack in Temecula, Calif.

    The 35,700-sq-ft, store is scheduled to open during spring 2012 at Commons at Temecula, a regional shopping center. It will occupy the former Linens 'n Things space.
     

  • Leonard Green, CVC complete BJ's acquisition

    WESTBOROUGH, Mass. — BJ's Wholesale Club officially is owned by Leonard Green & Partners and CVC Capital Partners, just a few weeks after the retailer's stockholders approved the agreement.

    BJ's was required in an all-cash transaction valued at $51.25 per share, or $2.8 billion.

    BJ’s common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, Oct. 3, the companies said.

    The deal was announced in late June after months of speculation. BJ’s board of directors unanimously approved the agreement.

  • Family Dollar appoints Edward Garden to board

    MATTHEWS, N.C. — The chief investment officer of Trian Fund Management has been named to the board of directors at Family Dollar, the retailer announced.

    Edward Garden's appointment as board member is effective immediately. With this appointment, Family Dollar's board expands to 11 directors.

  • Castro-Wright resignation noteworthy, but not a surprise

    Normally, it is a big deal when the vice chairman of a major company announces their retirement. Especially when said executive is only 56 and in the prime of their senior leadership years. That wasn’t the case earlier this week when Walmart announced that Eduardo Castro-Wright would be stepping down as vice chairman and CEO of the company’s global e-commerce and global sourcing businesses.

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