News

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to be up 8% in January over the same month last year, according to the monthly Global Port Tracker report released by NRF and Hackett Associates.

DEERFIELD, Ill. — Walgreens announced several executive appointments Monday, which included naming a former United Airlines executive to the post of chief customer experience officer.

LOS ANGELES — Looking to offer a greener option for users of Styrofoam and noncompostable insulated cups, Repurpose Compostables has launched a new insulated hot cup that is 100% compostable.

One Cup requires no sleeve, uses 65% less carbon dioxide than a traditional cup and can be composted in 90 days, the company said. The insulated cups also feature Ingeo-based lining, which eliminates the need for "double cupping," to assure the beverage, and not the drinker's hands, stay hot.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

HOFFMAN ESTATES, Ill. -- Sears, along with Bruno Schiavi's Jupi International, have teamed up with Kim, Khloe and Kourtney Kardashian to launch the Kardashian Kollection in 400 Sears stores nationwide in August. In a first for the sisters, the new brand will be included in exclusive shopping destinations created inside Sears department stores, the company reported.

ROSEVILLE, Calif. -- Revionics a provider in retail life cycle price optimization solutions, announced that Dick’s Sporting Goods has selected Revionics as their price management provider. Revionics will provide Dick’s with its Everyday Price Management and Markdown solution, which includes Revionics’ category planning tools, weekly price maintenance capabilities, and science-based clearance price solution across all channels

Boston -- Retailers identified mobile POS technologies as a quickly emerging trend, with more than half planning to launch mobile solutions within the next two years, according to Boston Retail Partner’s 12th Annual POS Survey.