Wal-Mart to Open in Shanghai
Bentonville, Ark., Wal-Mart announced today it will open its first store in Shanghai at the end of this month. Its entry into China’s biggest city will supplement the already 47 stores in China. Currently, the retailer employs 20,000 people in China and has headquarters offices in Shenzhen.
The 194,000-sq.-ft. Shanghai Wal-Mart will compete with French rival Carrefour S.A. and Germany’s Metro AG.
The Shanghai Daily reported that the local retailers are preparing for Wal-Mart’s arrival by renovating their stores and revamping product lines.
The Mills Corp. Opens Pittsburgh Mills
Arlington, Va., Mills Corp. opened Pittsburgh Mills in Frazer Township, Pa., 16 miles northeast of Pittsburgh. This will be the first property owned by the Mills Corp. to have both an enclosed regional mall and an adjacent open-air center.
Galleria at Pittsburgh Mills, the enclosed mall, is 1.1 million sq. ft. and houses more than 175 retailers. It is the first Mills property to house full-price department stores such as J.C. Penney and Kaufmann’s. Galleria also will include retail stores new to the Pittsburgh area, including Forever 21 and Johnny Rockets.
The Hits Keep Coming: Myinks.com Moves Fastest
New York City, The site www.myinks.com jumped 15,934 positions to the rank of the 2,048th most visited retail Web site for the week ending on July 9. The increase in market share for the on-line inkjet superstore of 740% made it the fastest moving retail Web site of the week, according to Hitwise.com, the on-line intelligence firm. 101inks ranked third among fast movers, with an increase in market share of 478%.
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