OPERATIONS

Report: Wal-Mart to shut 20 China stores

BY Dan Berthiaume

Bentonville, Ark. – Wal-Mart Stores will reportedly close 20 underperforming stores in China next year as part of an overhaul of its Chinese operations. According to Bloomberg, Wal-Mart is restructuring its business in China, including a new management structure and more efficient purchasing operations.

However, Wal-Mart still plans to open 100 stores in China during the next three years. A Wal-Mart executive said the stores being closed there do not have ideal locations or layouts.

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MARKETING/SOCIAL MEDIA

CVS launches digital, personalized circular

BY Dan Berthiaume

Woonsocket, R.I. – CVS/pharmacy is launching myWeekly Ad, a digital circular powered by the CVS/pharmacy ExtraCare program. The new circular serves up a personalized version of the sales ad for each customer.

Upon signing up, each user will immediately see which of their favorite items are on sale that week, including frequently-bought items or deals in categories that might be of interest to that specific shopper. Personalized ExtraCare savings and rewards can also be found all in one place.

CVS/pharmacy is showcasing the new myWeekly Ad by kicking off a 360-degree marketing, advertising and social media campaign featuring celebrities Joan Rivers, Nick Cannon and George Hamilton. The "What’s Your Deal?" campaign highlights how CVS/pharmacy is a unifying shopping destination for all of these different characters.

"Our ‘What’s Your Deal?’ campaign is a tongue-in-cheek way for us to unveil the savings revolution that is myWeekly Ad, where we’ve created a personalized circular that is as unique as each of our customers," said Rob Price, chief marketing officer of CVS/pharmacy. "CVS/pharmacy’s myWeekly Ad is a convergence of technology and customer insights that revolutionizes savings. It acts as a matchmaker for our customers and their best deals."

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REAL ESTATE

Shopping center in Texas changes hands

BY Dan Berthiaume

Houston – Transwestern has completed the sale of Hannover Commons Shopping Center in Spring, Texas. After leasing the newly constructed 10,020-sq.-ft. shopping center to 100% occupancy, Transwestern represented the seller, Hannover Woods Retail Partners LLC, in the disposition of the asset to a local investor.

"The center is located directly across from the area’s only HEB," said Transwestern’s Micha van Marcke, CCIM, senior VP. "The sale of the center was greatly enhanced by its proximity to the new Exxon Mobil campus currently under construction. As a result, the property received strong interest from not only local buyers but investors from across the country."

Transwestern’s van Marcke, Chace Henke, retail associate, and Tony Armstrong, VP, represented the developer and seller in the transaction.

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