Report: Wal-Mart invests $103 million in Indian operations
Bentonville, Ark. – Wal-Mart Stores Inc. has reportedly invested $103 million in its Indian operations with the goals of expanding its wholesale store count and increasing its online presence there. According to the Wall Street Journal, Wal-Mart intends to increase wholesale store base in India from the current 20 to 70 in the next five years.
The investment, designed to meet working capital and capital expenditure requirements, will also be used to offer the local retailers Wal-Mart serves through its Indian wholesale stores, which do not sell to consumers, 24-hour online service. Wal-Mart opened a pilot e-commerce site for small retailers located in the cities of Hyderabad and Lucknow in June, with full rollout across India planned in January 2015.
Ross Stores opens 30 locations in June, July
Dublin, Calif. – Ross Stores opened 23 Ross Dress for Less stores and seven DD’s Discounts locations across 17 states in June and July. These new locations are part of the retailer’s plans to add a total of approximately 75 Ross and 20 DD’s Discounts stores during 2014.
Ross believes that future growth opportunities include almost doubling its store count from its current 1,194 stores to 2,000 stores, and also growing DD’s Discounts from 144 stores to 500 stores.
"These latest openings reflect our ongoing expansion strategy to fill in our presence in existing markets while also increasing penetration in our newer Midwest region where we added another eight Ross locations in July,” said Jim Fassio, president and chief development officer. “The seven DD’s Discounts stores we opened also included initial entry into three new states — New Jersey, North Carolina, and Oregon."
Loblaw promotes Joe Fresh COO to brand president
Toronto – Loblaw Companies Ltd., owner of the Joe Fresh brand, has promoted Mario Grauso to president of Joe Fresh. He was previously COO of the brand.
In his new role, Grauso oversees business strategy, operations, marketing, international development, merchandising, sourcing and design functions at Joe Fresh.