Department of Defense Awards Royal Ahold Unit Deal
Washington D.C., The U.S. Defense Logistics Agency on Tuesday awarded a food distribution contract worth about $38.8 million to U.S. Foodservice, a subsidiary of Dutch firm Royal Ahold NV. The Army and Air Force will use services under the one-year pact, which was awarded to U.S. Foodservice in Fairburn, Ga.
Report: Wal-Mart Bidding $100M for Chain in China
Beijing, Wal-Mart Stores has emerged as the leading bidder to buy a chain of 100 hypermarkets in China, but a final agreement has yet to be reached, according to a report in The Financial Times. The company is reportedly bidding about $1 billion to buy the chain from Trust-Mart, a Taiwanese company.
If completed, the deal would vault Wal-Mart past its rival, Carrefour SA of France, in the number of hypermarkets in China. Currently, Wal-Mart has 66 stores in China. The chain has said it plans to increase fivefold in size in that country in the next five years.
More Young Shoppers Head to Department Stores
Los Angeles, The National Retail Federation’s (NRF) 2006 holiday season survey has found that more college-aged shoppers will be hitting department stores this year to do their shopping. The Holiday Consumer Intentions and Actions Survey found that 79% of shoppers ages 18 to 24 planned to shop at department stores during the holidays, up from nearly 73% last year.
While nearly three-quarters of American consumers plan to shop at discount stores this holiday, nearly 62% are headed to department stores, the study found, with 48% shopping at specialty stores and 47% looking to the Web for their gifts.
The average consumer plans to spend $791.10 on presents this holiday, up from $738.11 in 2005, according to the study, an increase boosted by lower gas prices and rising consumer confidence.