Albertson’s Closes Three Colorado Stores
New York City, Albertson’s notified three of its Colorado stores that their leases would not be renewed, thus cutting about 200 jobs.
The announcement comes amid rumors that the Idaho-based national grocer may be seeking potential buyers.
Albertson’s is currently fourth in the Colorado market share, behind King Soopers, Safeway and Wal-Mart. Last year, Albertson’s closed all 21 of its Omaha stores, saying that it would not stay in markets where it could not be No. 1 or No. 2. In Colorado, Albertson’s has been accustomed to its place behind King Soopers and Safeway, but it has recently been surpassed by Wal-Mart, as well.
OfficeMax Chooses New HQ
Shaker Heights, Ohio, OfficeMax has selected Naperville, Ill., as the site of its new corporate headquarters, thanks to a $20 million incentive by Gov. Rod Blagojevich. OfficeMax will bring 700 jobs to Illinois as a result of the move.
The move from the retail headquarters in Shaker Heights to Naperville will take place late next spring.
Wal-Mart Takes Controlling Stake in Seiyu
Tokyo, Japanese supermarket retailer Seiyu has announced that Wal-Mart Stores is raising its stake in Seiyu from 42% to more than 50% by December. The move will turn Seiyu into a Wal-Mart subsidiary and expand Wal-Mart’s foothold in the world’s second largest retail market.
Wal-Mart will purchase up to $597 million worth of $1 billion in new shares issued by Seiyu. The remaining shares will be acquired by a Japanese bank and other investors, according to Seiyu.
Wal-Mart, since arriving in Japan in 2002, has been gradually raising its stake in Seiyu, which operates more than 400 stores.