FINANCE

Wal-Mart again in talks to acquire Russian retailer

BY CSA STAFF

Moscow A late Thursday report by Bloomberg said that Wal-Mart Stores may acquire Russia’s OAO Trade House Kopeyka.

Russian billionaire financier Nikolai Tsvetkov, who owns Kopeyka, values the company at about $1.7 billion and didn’t want to sell it to X5 Retail Group NV, Russia’s biggest retailer, for less, according to the report.

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Target helps cardholders save

BY CSA STAFF

MINNEAPOLIS Target is offering customers that shop with their Target REDcard to save 5% on nearly all purchases at any Target store or on Target.com.

Beginning Oct. 17, the retailer said it would extend the savings program to all Target REDcard products, including the Target credit card, Target Visa credit card and Target debit card. In addition to receiving 5% off nearly all purchases using a REDcard, guests will receive a coupon good for 5% off a future day of shopping every time they fill five prescriptions at a Target pharmacy with a Target REDcard.

This new rewards program will replace the existing rewards program in which new account holders receive an initial 10% off coupon and existing cardholders earn coupons for 10% off a future day of shopping. The existing program ends on Oct. 16 at close of business.

“This innovative, new initiative will provide Target REDcard holders with tremendous value on our exciting merchandise assortment –– everything from electronics to fresh food,” said Terry Scully, Target financial services president. “This program makes Target’s low prices even lower, so there’s no need for Target REDcard holders to shop around.”

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NACS names supplier board chairman

BY CSA STAFF

ATLANTA Hershey’s VP customer industry affairs recently joined the National Association of Convenience Stores’ supplier board as chairman.

Tom Joyce will serve as the NACS supplier board chairman for the 2010-2011 term, NACS said. The NACS Supplier Board is comprised of individuals from NACS supplier member companies that represent different product and service categories in the convenience store industry.

In related news, VP convenience sales for Jack Link’s Beef Jerky, Scott Hill, will serve as chairman of the NACS supplier board for the 2011-2012 term.

Joyce and Hill were named to their positions during the NACS supplier board meeting at the NACS Show in Atlanta. As chair and chair-elect of the NACS Supplier Board, Joyce and Hill also serve as members of the NACS board of directors.

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