Mexico’s Soriana to Buy Gigante Stores
Mexico City Mexican retailer Organizacion Soriana SAB announced that it would buy rival Grupo Gigante’s 199 stores in Mexico and seven outlets in Los Angeles for $1.35 billion.
In addition to the purchase price, Soriana will pay for inventories and rent on the locations that Gigante will lease to the company, Soriana said.
The agreement is subject to the approval of Mexico’s Federal Competition Commission. If approved, it will also include 12 distribution centers, software and IT systems, the company said in a filing with the Mexican Stock Exchange.
In Mexico, the stores operate under the names Gigante, Bodega Gigante and Super G. North of the border, the stores are called Gigante USA.
Soriana, based in the northern industrial city of Monterrey, said the deal would allow it “to fully enter the competitive market” of Mexico City, where Gigante has 47 stores, and expand its floor space by 47%.
New Apple store opens today
NEW YORK Apple today is opening its newest store in New York City’s trendy Meatpacking District.
The West 14th Street store opens its doors at 6:00 p.m. Eastern time and will become the largest Apple Store in Manhattan. For the first time, the three-story store will feature two floors dedicated to products and a third to services, the company reported.
The services floor will feature a 46-foot Genius Bar and specially designed areas for workshops and personal training on applications such as Final Cut Pro.
Bed Bath and Beyond to open in Canada
RICHMOND HILL, ON Bed Bath and Beyond today announced that it will be opening its first store in Canada at the Glen Shopping Center in Richmond Hill, ON.
The 34,000 square-foot store will feature several of the retailer’s popular brands including SimpleHuman, Oxo, Breville and HoMedics, the company reported.
“We are excited to open our first store in Canada and to share our long standing traditions of exceptional customer service, great value and a broad assortment of merchandise with the GTA [Greater Toronto Area]. Our new location in the town of Richmond Hill, which is experiencing a time of extensive growth, is centrally located off major highways and offers easy access for customers,” stated Steven Temares, ceo of Bed Bath and Beyond.