Tesco Not Interested in U.S. Acquisition
New York City, In an interview published in The Observer newspaper, Tesco CEO Terry Leahy waved off any interest in expanding in the United States. But China offers interesting possibilities, he added. “People have talked about businesses in the U.S. that could be bought, but I don’t think they are right for us,” said Leahy, according to the newspaper. One of those businesses that was talked about was Boise, Idaho-based Albertson’s. In China, Tesco already operates 50 hypermarkets in concert with Hymall. The U.K.’s leading retailer intends to “scale up” there, Leahy said.
Wal-Mart Settles With Overcharged Customers
Bentonville, Ark., As settlement with Wisconsin customers overcharged for bulk items such as grapes and grind-it-yourself coffee, Wal-Mart has agreed to pay $25,117.
State weight inspectors discovered that Wal-Mart was adding the weight of the bag when calculating charges by weight for the bulk products. For commodities sold by weight, the declared weight must be exclusive of the packaging.
Read All About It: Shrink Mitigation
New York City, Of all the problems faced by retailers, one of the biggest is shrink. Business process are at the heart of limiting the damage, according to Cisco executives Dean Sivara and Ed Jimenez. Their article “Cutting Shrink Down to Size,” describes how integration and mobility reduce shrink-related losses and boost profitability. For the complete article, click on the “Guest Commentaries” tab at the top of the page.