Mass Merchant

London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.

The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion).

Enterprising television reporters at KGTV in San Diego caused Walmart some grief this week when they uncovered that prices were ringing up incorrectly on some items and customers were not being offered a $3 refund in keeping with a 2008 court order. To watch the video click here or continuing reading.

Walmart earlier this week named Cindy Davis EVP of a newly created global consumer insights business unit. She will be responsible for understanding broad consumer trends world wide and creating advanced analytical tools to support Walmart’s business, a sizeable task considering Walmart’s expanding global empire and the diversity of markets being served.

Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

Cincinnati -- Kroger Co. announced late Wednesday that executive VP Donald E. Becker died Wednesday after suffering an aneurysm. He was 62 years old.

Becker started with Kroger as a clerk in 1969 in the Cincinnati-Dayton area and worked his way up to hold several leadership positions. In 2004, he became executive VP, a role in which he led the company's merchandising and purchasing among other duties, the company said in a statement.

Queens, N.Y. -- Discount grocer Aldi said Thursday it will open its first-ever New York City store on Feb. 18. The new store is located in the borough of Queens.

Aldi, which offers a limited assortment of items, said it will bring its standard floorplan to Queens, which includes wider-than-typical 8-ft. aisles.

The Queens store is the first of three grocery stores the company plans to open in the area, including new locations in the Bronx and Bay Shore areas.

Beachwood, Ohio -- The Developers Diversified Realty Corp. board of directors announced the company and Scott A. Wolstein have agreed he will step down from the role of executive chairman of the board of directors.

New York City -- Months after a voter initiative to abolish North Dakota's strict restrictions on pharmacy ownership foundered, the long-running debate resumed Tuesday in the state’s legislature, the Associated Press reported.

North Dakota is the only state in the nation that requires pharmacists to have majority ownership of most pharmacies. The law prevents major retailers, such as Wal-Mart Stores, from operating pharmacies in their own stores.