News

ANN ARBOR, Mich.  — Walmart has put a considerable amount of time an effort into its digital business, and that appears to have been well worth it as the company achieved an 82, from a prior-year score of 79, on ForeSee's 2012 rating of Internet retailers. Achieving an 82 is impressive, as a score of 80 is the minimim needed to be considered "superior." The survey scored all retailers on the list out of a 100.

Target’s annual shareholders’ meeting will be held June 9 in downtown Chicago at the location of a soon-to-open CityTarget store on State Street. The venue is an interesting choice that speaks volumes about the potential for the new urban format.

Minneapolis -- According to a Wednesday filing by Best Buy, former CEO Brian Dunn may receive either $3.1 million or zero in termination payments following his highly publicized resignation.

The payout is dependent on whether or not Dunn is determined to have left voluntarily on April 9.

In the filing, Best Buy said it is reviewing Dunn’s compensation pending its investigation into his personal conduct.

ANN ARBOR, Mich.  — Though 79 is just one point shy of what ForeSee considers a superior score on its annual top 100 online retailers for customer satisfaction list, Target should still be concerned as it was three points behind rival Walmart, and three points does make a difference.

With the lowest score on the list being 69 and the highest being 89, achieved by Amazon.com, most retailers on the list had a score in the 70s, while 36 on the list earned the distinction of scoring 80 or higher. The scores are based on a 100-point scale.

Union, N.J. -- Bed Bath & Beyond Inc. said that it has reached a definitive agreement to acquire Cost Plus in an all cash transaction. The deal is valued at some $495 million, according to Reuters.

Based in Oakland, Calif., Cost Plus currently operates 259 stores under the names World Market, Cost Plus World Market, Cost Plus Imports, and World Market Stores in 30 states.

Chicago-based General Growth Properties is taking steps toward reducing the carbon footprint of four New Jersey-area malls by outfitting them with state-of-the-art solar panels.

Bridgewater Commons (shown here), Paramus Park, Willowbrook Mall and Woodbridge Center will in total be equipped with 20,000 5.1 megawatt panels that will provide an estimated 12% of the properties’ energy needs.

Indianapolis -- Marsh Supermarkets said that Joe Kelley, chairman, president and CEO, has left the company to become president of Stop & Shop's New England division. Marsh named COO Bill Holsworth as interim CEO, effective immediately.

At Stop & Shop, Kelley succeeds Mark McGowan, who was promoted to executive VP supply chain, Ahold USA. Both appointments are effective May 21.
 

MONTVALE, N.J. — A&P president and CEO Sam Martin, will be the star of the retailer's new integrated marketing campaign highlighting the company’s vision to be the best neighborhood food and drug store by offering high-quality, localized products, enhanced services and greater value, the company announced Wednesday.