News

HONG KONG — Esprit Holdings' chairman has unexpectedly resigned, just one day after the sudden departure of CEO Ronald van der Vis.

Chairman Hans-Joachim Korber said he is leaving for personal reasons, while van der Vis’s reasons were described as “personal and family.” CFO Chew Fook Aun left the company on June 1.

Even though no retailer has done more to enhance food safety in China than Walmart, the company found itself in the headlines again this week as regulators discovered products containing banned ingredients on the retailer’s shelves.

Media reports said Walmart removed products from shelves after a food safety official in Beijing discovered high levels of cadmium in squid and excessive benzopyrene in sesame oil. Walmart said it had received appropriate regulatory documents from suppliers prior to offering the products, according to reports.

The retail industry has long been chastised for not moving fast enough when it comes to technology innovation. Perhaps we are now making up for lost time as the industry has changed rapidly over the past ten years alone and retailers are investing in new solutions to keep pace. The evolution of technology has not only changed the way consumers shop, but changed the way retailers respond and how they operate.

CHESAPEAKE, Va. — Dollar Tree shareholders have re-elected a number of board members among other initiatives passed at the company's annual meeting.

Shareholders re-elected Arnold S. Barron, Macon F. Brock, Jr., Mary Anne Citrino, J. Douglas Perry, Thomas A. Saunders III, Thomas E. Whiddon, and Carl P. Zeithaml to serve on the board of directors. Each of these Directors received a majority of the votes cast at the meeting.

Atlanta -- Burger King Corp. has launched a mobile payments pilot program in partnership with Firethorn Mobile, a subsidiary of Qualcomm Inc.

The BK Mobile Crown Card allows consumers to pay for their purchase by using an Android or iOS-based phone to scan a QR tag placed on counters or drive-up windows of participating restaurants. The pilot is taking place in approximately 50 Burger King restaurants in Salt Lake City, and surrounding metropolitan areas.
 

800x600 Normal 0 false false false EN-US

ISSAQUAH, WA and MEXICO CITY — Costco Wholesale has agreed to buy out Controladora Comercial Mexicana's 50% share interest in Costco de Mexico, a joint venture, for $10,650 million MXN (the equivalent amount in U.S. dollars is $760.4 million based on an exchange rate of 14.006 pesos to the dollar). In addition, Costco Mexico has declared a cash dividend of approximately $4,774 million MXN (the equivalent amount in U.S. dollars is $340.85 million based on an exchange rate of 14.006 pesos to the dollar), 50% payable to a subsidiary of Costco Wholesale and 50% to CCM.

Homebuyers who factor resale value into their purchase decision may want to consider proximity to Walmart before completing their deal, according to new research out this week showing it helps to be near a Walmart.