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Walmart Canada faces emboldened competitor
The Sobey’s chain of food stores, whose parent company counts former Walmart Canada head Dave Ferguson among its board members, has added new square footage to its retail portfolio with the acquisitions of Safeway’s Canadian stores.
The $5.8 billion deal, announced late Wednesday will added Safeway’s 223 stores and 12 manufacturing facilities to Sobey’s existing operation which includes about 1,500 stores under banners such as Sobeys, IGA extra, Thrifty Foods, IGA, Foodland and FreshCo.
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Tax and Spend?
For anyone involved in retail, it feels like the International Council of Shopping Centers (ICSC) Spring Convention in Las Vegas signifies an important yearly milestone. Those of us in the industry can be forgiven for visualizing a “retail year” that begins immediately after the convention in May and runs until RECon opens its doors the following year.