News

MINNEAPOLIS — Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination. The move comes as Best Buy looks to grow its online business as it struggles to maintain leadership of a saturated consumer electronics market.

According to Best Buy, Best Buy Marketplace will increase the company's online product assortment by one third in time for holiday shopping.

GARNER, N.C. — Butterball LLC, the nation’s largest turkey producer, has announced the appointment of Rod Brenneman as the company’s new CEO. After an extensive search, the company came back to its first and number one candidate, who has been filling the role as interim CEO and is already familiar with the organization.

MIDWEST CITY, Okla. — Walmart is gearing up to open a Neighborhood Market store this month in Midwest City, Okla.

The 40,000-sq.-ft. format will offer customers quick access to low-cost groceries, prescriptions and household products. The store officially will open its doors on Sept. 21.

As previously reported, Walmart president and CEO Bill Simon said that the Neighborhood Market format is being rebranded as Walmart Market.

ORANGE, Calif. — Naturade on Wednesday announced the mass-market introduction of HealthSmart, a doctor-formulated daily protein shake mix that will serve as a comprehensive source of nutrition for active adults. 

Endorsed by baseball hall of famer George Brett, HealthSmart contains 18 g of whey, soy, pea and rice protein isolates, and is fortified with omega 3s and antioxidants for heart health, probiotics and fiber for healthy digestion, and 24 vitamins and minerals.

San Diego -- PriceSmart's same-store sales rose 17.7% in August. Total revenue for the five weeks ended Sept. 4 climbed 21.5% to $148.3 million.

PriceSmart also announced that on August 19, 2011 opened its first warehouse club in Colombia. This warehouse club, located in Barranquilla, brings to 29 the total number of warehouse clubs in operation by the company.

PriceSmart, based in San Diego, had 29 warehouse clubs at August's end. The company runs membership warehouse clubs in Central America and the Caribbean.

NEW YORK — The Private Label Manufacturers Association announced that Douglas Merrill will serve as the keynote speaker for the organization's 2011 Private Label Trade Show in November.

Merrill, who served as EVP engineering and chief information officer for Google from 2003 to 2008, will offer attendees perspective on how shoppers and shopping behaviors are changing, and what the coming retail marketplace will look like. The keynote speech will be presented at the annual PLMA Salute to Excellence Breakfast on Nov. 14.

By Jonathan Cobb, [email protected]

MOSCOW — Gap Inc. announced that it has opened its first Banana Republic store in Russia through its franchise channel. The company also announced that it will open its first Gap store in Serbia on Friday. This store will represent the company’s 200th franchise store globally.