News

Report: Canadian c-store giant set to make another U.S. acquisition
Alimentation Couche-Tard Inc. is reportedly nearing a deal that would increase the ongoing consolidation in the convenience-store industry. The Canadian convenience-store giant is in the lead to acquire CST Brands Inc., the Wall Street Journal reported. CST, based in San Antonio, Texas, is a fuel and convenience-store chain with more than 1,000 stores in the southwestern U.S., New York and eastern Canada.
How one retailer uses Snapchat
Rent the Runway has launched a Snapchat service to help its customers find the right fit. The company, which rents out brand-name dresses, outfits and accessories, is prompting its followers on Snapchat to send a video, image or text that address concerns around how a certain dress might fit on their body type, Glossy.com reported. But that’s just the beginning.

Barnes & Noble fires CEO

That didn’t take very long. Barnes & Noble on Tuesday announced the abrupt departure of CEO Ronald D. Boire, who has held the position for just under a year. In a short and bluntly-worded statement, the book-seller announced that its board had determined that Boire “was not a good fit for the organization and that it was in the best interests of all parties for him to leave the company.”
Off-pricer turns in another strong performance; continues to grow footprint

There was no stopping TJX Cos. in its second quarter. But it sounded a cautious note about its third quarter. For the quarter ended July 30, TJX posted a profit of $562.2 million, better than analysts’ forecasts, up from $549.3 million in the year-ago period. Revenue increased 7% to a better-than-expected $7.88 billion. Same-store sales rose 4%, above expectations for an increase of 2% to 3%.
PREIT sells Washington Crown Center to Kohan

PREIT announced it had completed the sale of the Washington Crown Center in Washington, Pennsylvania, to the Kohan Retail Investment Group for $20 million. The 674,000-sq.-ft. mall — 25 miles south of Pittsburgh on I-70 — is anchored by Bon-Ton, Macy's, Gander Mountain, and Sears.
Ralphs rolls out online grocery shopping in California

Ralphs is inviting customers to take advantage of the convenience of online grocery shopping at its Carlsbad, Calif., store, and the retailer plans to expand the service company-wide by the end of the year.
Walmart goes on the offense against shoplifting

Walmart has launched an unusual program to combat crime in its stores. In an experiment, the chain is dealing with shoplifters on its own terms through an initiative called “Restorative Justice,” Time.com reported.
Walmart Foundation pledges $500K in Louisiana flood relief efforts

Walmart and the Walmart Foundation on Monday made a commitment to provide support through cash and in-kind donations of $500,000 to organizations helping with relief efforts for those affected by the floods in Louisiana. Working closely with the Salvation Army, American Red Cross and the Greater Baton Rouge Food Bank, coordination efforts are being made with elected officials and governmental entities across the region to meet the needs of those affected by the overwhelming flooding in the Louisiana region this week.
Big merger in digital signage

Stratacache has acquired majority control of Scala Inc.
Tupperware sells Florida center for $121 million

Crosslands Shopping Center, a joint development of Tupperware Brands and O’Connor Capital Partners, has been sold for $121 million just two years after opening in Kissimmee, Florida, according to a report in the Orlando Business Sentinel. The Hampshire Companies, a New Jersey-based real estate firm, announced that it had acquired the center on behalf of an unnamed foreign investor. Crosslands is located within the Osceola Corporate Center, not far from Tupperware headquarters in Orlando.