Mass Merchant

Five Below is adding two more stores to its already considerable Texas portfolio.    The fast-growing extreme-value retailer will open two stores in the Rio Grande section of Texas, in the towns of Brownsville and Mission, on June 24, 2016, giving it a total of 53 locations in the state.    The Rio Grande area stores are two of approximately 85 new Five Below stores is opening in 2016,  on top of  71 new stores it opened in 2015.  

Amazon is expanding its fledgling bricks-and-mortar bookstore format.   The Internet giant plans to open a third Amazon Books this fall, at Washington Square Mall, in Tigard, Oregon, just outside of Portland, The Oregonian reported.   

In a big step to grow its business in China, Walmart has entered into an agreement to acquire a 5% stake in JD.com, China’s second largest e-commerce company. 

Two private equity firms have thrown their hats in the arena to buy Cabela’s.   The firms, New York-based Apax Partners and San Francisco-based TPG Capital,  are each meeting Cabela’s management as part of an auction for the 82-store chain, the New York Post reported.   Bass Pro Shops is also interested in Cabela’s, and has partnered with Goldman Sachs Group’s private equity arm to make an offer for its rival, according to Reuters.  

Wal-Mart Stores sent out a message to naysayers who say the chain’s best days are behind it.    Speaking at the Consumer Goods Forum conference in Cape Town, South Africa, Wal-Mart CEO Doug McMillion said the retailer expects to add $45 billion to $60 billion of new sales during the next three years.  

A Swedish retail giant that excels in fast-fashion is also a leader when it comes to breaking the glass ceiling. But a U.S. merchant is not that far behind.   

Vitamin Shoppe on Thursday announced that it has hired Jason Reiser as COO effective July 11.    

Walmart is trimming administrative positions in some 500 stores in the West.   According to multiple media reports, the discount giant will cut three backroom accounting and invoicing positions at each store, for a total of 1,500 jobs. Affected employees will not be laid off, but instead offered front-of-store roles such as pharmacy technician or assisting pickups of online orders. Invoicing tasks will be shifted to corporate headquarters in Arkansas, while accounting functions will be automated.