REAL ESTATE

Report: Wal-Mart opens c-stores in China

BY CSA STAFF

Bentonville, Ark. Wal-Mart said on Wednesday it has launched a pilot program to open convenience stores in China in an effort to boost its presence in one of the world’s fastest-growing retail markets, Reuters reported.

Wal-Mart opened three convenience stores in December in the south China city of Shenzhen.

Wal-Mart will track the performance of the stores, named “Smart Choice” or Hui Xuan in Chinese, before deciding on future expansion, the report said.

An unnamed company source was quoted by Chinese media saying that Wal-Mart plans to open 100 of the convenience stores across China this year and 1,000 in five years, according to Reuters.

China’s $824 billion retail sector is one of the world’s fastest growing.

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First Insight adds new director

BY CSA STAFF

PITTSBURGH First Insight announced that Richard Marcus has joined its board of directors.

Marcus, a senior advisor at Peter J. Solomon Co., a leading independent investment banking firm, is a director of 7 Billion People and My Wines Direct.

Marcus commented, “First Insight’s new product market testing analytics gives retailers the means to couple new product development and merchandising decisions with keen predictive insight. Its customer network approach to product market testing offers retailers unmatched scale, speed, and accuracy critical for better merchandise performance and customer satisfaction.”

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Deer Consumer products names new board members

BY CSA STAFF

NEW YORK Deer Consumer Products, maker of small kitchen electronics targeting both international and the Chinese domestic markets, welcomes three independent board members to the company.

Arnold Staloff, chairman of the audit committee, currently serves on the boards of several NASDAQ listed companies including Shiner International, a packaging and anti-counterfeit plastic film company; AgFeed Industries, a feed and commercial hog producer and SmartHeat, an energy savings equipment company.

 

Edward Hua, chairman of the nominating committee, has held various management positions at the Bank of China and is currently the general manager of the Treasury Department of the Bank of China Shenzhen Branch.

Walter Zhao, chairman of the compensation committee, has been the president of Kaito Electronics, an electronics design and manufacturer, since 1997.

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