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Mass Merchant

  • Amex cutting 16-year ties with Costco

    Costco shoppers may soon have other options for payment. American Express says it is ending its 16-year-old exclusive relationship with Costco next year.

    Costco is one of the few big U.S. merchants that accepts only American Express cards. Cards branded by Visa Inc., MasterCard Inc. and Discover Financial Services can’t be used at its warehouse stores.

  • Target to pay $4 million for overcharging in California

    Minneapolis – Target Corp. has agreed to pay almost $4 million in fines for overcharging customers at stores in Contra Costa, Sonoma, Marin, Santa Cruz and Fresno counties in California. The payment will settle a complaint filed by the San Diego City Attorney’s Office in conjunction with the district attorneys of the affected counties.

    The complaint said that Target charged consumers more money at the cash register than was advertised on price tags in aisles, and also misrepresented the weight of packaged food.

  • SAS to open at The Village at Waugh Chapel

    Gambrills, Md. -- Greenberg Gibbons announced that SAS is opening a new 2,596-sq.-ft. shoe store at The Village at Waugh Chapel, a mixed-use development in Gambrills, Maryland.

    The new store is expected to open in March 2015, located next to Coldstone Creamery and Fuji Modern Asian Cuisine & Sushi Lounge. It joins Safeway, Chipotle, LA Fitness, Marshalls, Homegoods and more.

  • Jo-Ann Fabric names Shopko exec as CEO

    Hudson, Ohio -- Jo-Ann Fabric and Craft Stores has named a 25-year retailing veteran, former Shopko exec Jill Soltau, as president, CEO and a member of the board, effective March 2. She succeeds Jim Kerr, who has served as interim CEO since August when Travis Smith stepped down. Kerr will continue as executive VP and CFO.

  • Walmart Canada to open 29 supercenters

    Wal-Mart Stores is giving a big boost to its Canadian operations even as Target shuts downs its failed Canadian venture.

  • Report: Argos Merger provides $1.9 billion funding for PetSmart buyout

    Phoenix – The $8.7 billion private equity acquisition of PetSmart Inc. that was announced in December 2014 is one step closer to fruition. Argos Merger is providing a $1.9 billion senior note unsecured offering to finance the purchase.

  • Whole Foods Market to open in Uptown Charlotte mixed-use development

    Charlotte, N.C. -- Crescent Communities has unveiled plans for a mixed-use, transit-oriented development that will bring Uptown Charlotte its first Whole Foods Market. The company’s plans for the 5.4-acre site at the Lynx Light Rail’s Stonewall Station, in Charlotte, North Carolina, define a new model of urban living for the area and complement its Tryon Place mixed-use development to redefine the city’s Stonewall corridor.

  • Costco will no longer take AmEx cards in U.S. stores starting in March 2016

    New York -- In a big loss for American Express, Costco Wholesale Club will no longer accept American Express cards at its U.S. stores starting on March 31, 2016, ending a 16-year-old exclusive relationship with the credit card giant. Costco is one of the few big U.S. retailers that accepts only American Express cards, with by Visa Inc., MasterCard Inc. and Discover Financial Services cards not accepted at its stores.

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