Most retailers are reducing their footprints, but not Nebraska Furniture Mart (NFM). In fact, the retailer is doing just the opposite and has opened the nation’s largest home furnishings store. Located in the new 433-acre mixed-use development, Grandscape in The Colony, Texas, the two-level NFM has a whopping 560,000 sq. ft. of selling space. Including an on-site warehouse, the space totals more than 1.8 million sq. ft.
It may seem counterintuitive, but retailers should welcome the irate shopper who vents their frustration. That’s because it’s the mistreated customer who walks out the door in a silent huff who places the most revenue at risk, according to a collaborative study of dysfunctional retail touch-points conducted by LoyaltyOne, Verde Group and Dr. Deborah Small, professor of marketing and psychology, Wharton School of the University of Pennsylvania.
The parent company of Albertson's, New Albertson's and Safeway (collectively Albertsons), AB Acquisition LLC, has appointed industry veteran Mark Panzer as senior VP of pharmacy, health and wellness, overseeing the company's 1,760 pharmacies in 34 states across the country.
General Electric Company on Friday announced it will sell or spin off the majority of its $500 billion GE Capital finance business over the next two years as it looks to simplify and concentrate on its industrial roots. The company said it will keep its aircraft leasing operation and smaller lending lines.
Walgreens Boots Alliance on Thursday reported quarterly earnings for the first time since the December 2014 merger of Walgreen Co. and Alliance Boots GmbH. The announcement included the news that the drug store retailer will close about 200 U.S. stores as part of its previously announced three-year, $1 billion cost-reduction plan.
The $8.7 billion private equity acquisition of PetSmart Inc. that was announced in December 2014 is one step closer to fruition. Argos Merger is providing a $1.9 billion senior note unsecured offering to finance the purchase.