FINANCE

Leonard Green’s retail investments include Jo-Ann Stores Inc. and J. Crew Group

BY Staff Writer

India — The Indian government on Friday won a non-binding vote in the upper house of parliament on its new policy to allow foreign supermarkets to enter the country’s vast retail market, which is put at approximately $450 billion.

The government had already won a vote on retail reform in the lower house two days earlier.

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STORE SPACES

Walmart Canada retrofits overhead sales floor lighting to LEDs for an estimated 28% energy savings

BY Marianne Wilson

New York — Walmart Canada has retrofitted all of the overhead sales floor lighting at its supercenter in Brampton, Ontario, from conventional fluorescent lighting to high efficiency LED 4-ft. retrofit lamps. The retailer estimates the change could save approximately 283,000 kilo-watt hours (kWh) per year, which will results in a savings of up to $26,000 per year.

"We’re very proud to be the first large Canadian retailer to fully convert sales floor lighting to LED for general illumination requirements," said Ken Farrell, VP store development for Walmart Canada. "This latest project represents just one of many steps Walmart Canada is taking to make our stores less energy intensive."

Completed by Canadian EcoLight LED Systems Corp., the retrofit involved changing close to 6,000 lamps from traditional 25-watt fluorescent high efficiency lamps to 18-watt LED lights, allowing the retailer to reduce energy usage for store lighting by 28%, thereby reducing the strain on the energy grid.

In addition to the direct savings from switching to LED lamps, the retailer will also benefit from reduced costs for air conditioning requirements, relamping, reballasting and recycling, and an improved shopping environment.

"Unlike traditional fluorescent lights, LED lights emit less heat, which allows us to reduce our air condition use at the store during the spring and summer," Farrell said. "The new lights also provide a better shopping environment for our customers. Customers shopping at the Brampton North location will notice the store appears much brighter and with lighting that is closer to natural daylight, almost as if we’d installed skylights around the store."

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P.Jones says:
Mar-26-2013 06:24 am

The new light could quickly
The new light could quickly find a home, especially in the millions of homes who want to switch to high-efficiency lighting source. - Michael Courouleau

P.Jones says:
Mar-26-2013 06:24 am

The new light could quickly find a home, especially in the millions of homes who want to switch to high-efficiency lighting source. - Michael Courouleau

M.Mirevski says:
Mar-09-2013 01:37 pm

When choosing an online
When choosing an online retailer, look for one that is a member of the Better Business Bureau and has a third party organization gathering ratings and testimonials about them. Another big difference can be, the latex offers extra spring effects but the other seems strong. tempurpedic pillows Tempur Pedic's mattress became very popular. It does mean you need to do your homework and arm yourself with a plan before choosing and purchasing your mattress.

M.Mirevski says:
Mar-09-2013 01:37 pm

When choosing an online retailer, look for one that is a member of the Better Business Bureau and has a third party organization gathering ratings and testimonials about them. Another big difference can be, the latex offers extra spring effects but the other seems strong. tempurpedic pillows Tempur Pedic's mattress became very popular. It does mean you need to do your homework and arm yourself with a plan before choosing and purchasing your mattress.

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REAL ESTATE

Loblaw Cos. to spin off real estate into REIT

BY Staff Writer

New York — Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust. The retailer said it plans to spin off real estate worth more than C$7 billion ($7.05 billion) into the REIT and sell units of the trust through an initial public offering that it hopes to complete by mid-2013.

"We are announcing this today because we feel the timing is right for both our business and the capital markets," said Galen Weston, Loblaw’s executive chairman, on a conference call, according to Bloomberg. "The size and quality of our real estate assets should be appealing to investors."

Loblaw said its real estate portfolio spans an estimated 47 million sq. ft., according to the report. As part of the transaction, Loblaw plans to contribute about 35 million sq. ft. to the REIT, and it will enter into long-term lease arrangements with the REIT on those properties.

Loblaw said it intends to retain a significant majority interest of over 80% in the REIT.

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