Wal-Mart international focus is on existing markets
Bentonville, Ark. — Wal-Mart executives, at the retailer’s Thursday webcast of its 2012 International Conference for the investment community, said its emphasis in international markets will be on improving results in existing markets as opposed to focusing on entering new territories.
"Our focus this year in particular has been on improving returns with our existing businesses," said Doug McMillon, CEO of Walmart International. He said the company is working on the key markets of China and Brazil.
“A lot of issues have been identified in China over the last few months,” said McMillon. “It’s just nowhere near what it could be."
The international chief assured investors that the company will continue to look for new opportunities, even if it’s not a main focus. "If there’s a large market out there with a high growth rate and we feel like for some reason this is a time that we need to go or want to go, we’ll still do some of those things,” said McMillon. “But what I want to demonstrate to you is that we understand the obligation and opportunity that we have to improve returns, and we will do that."
Report: Best Buy probing Dunn ties to female employee
Minneapolis — A Thursday report in the Minneapolis Star-Tribune said that Best Buy’s investigations into former CEO Brian Dunn’s personal conduct includes allegations of an inappropriate relationship with a female employee.
According to the newspaper, Dunn is said to have used company resources in the course of the relationship. It quoted an unnamed source as saying “the company is investigating multiple complaints that Dunn behaved inappropriately with a female subordinate.”
Best Buy announced Tuesday that Dunn had resigned.
7-Eleven and Cardtronics expand ATM relationship to Canada
Houston — ATM owner Cardtronics said Thursday that it been named the exclusive provider of ATM services to all 7-Eleven convenience stores in Canada.
Expanding on its existing relationship, Cardtronics will soon serve the world’s largest convenience store chain in both the United States and Canada. Cardtronics’ new portfolio of 7-Eleven Canada-located ATMs begins at a machine count of 472, includes expansion rights providing potential for growth and results in Cardtronics serving the world’s largest convenience store chain on both sides of the U.S.-Canadian border, including thousands of 7-Eleven stores in the United States.
Cardtronics said it expects to complete deployment of new Cardtronics-owned ATMs for 7-Eleven in Canada this summer.