Wal-Mart to Trim Growth, Increase Store Remodeling Efforts
New York City Wal-Mart Stores’ U.S. namesake division plans to cut new store growth over fiscal 2009 and 2010 while increasing its capital spending for store remodels, MarketWatch reported.
Capital spending for Wal-Mart U.S. is expected to decline to $5.8 billion to $6.4 billion for fiscal 2009 from $9.1 billion last year, Eduardo Castro-Wright, head of Wal-Mart Stores US, said at the company’s investor and analyst meeting. For fiscal 2010, capital spending is pegged at $6.3 billion to $6.8 billion.
Giant Food signs 10-year banking deal with PNC
LANDOVER, Md. Giant Food has signed an exclusive, 10-year agreement with PNC Financial Services Group, under which PNC will provide banking services in Giant supermarket locations across Virginia, Maryland, Delaware and the District of Columbia.
“We are very excited and pleased to bring to our Giant customers a new in-store banking opportunity,” said Robin Michel, evp and general manager of Giant Food. Michel continued, “Many Giant customers have come to appreciate the convenience of full-service, in-store banking. With PNC, we expand an existing relationship with one of the nation’s best-performing banks, which has 12 years of in-store banking success and a strong network of banks in our market areas. We are also pleased to be providing our Giant customers with a bank that shares our commitment to the high-quality service that our customers expect.”
According to the agreement, PNC intends to open full-service, in-store branches. Initial plans call for 41 new in-store branches and 180 ATMs to be in place in 2009. In addition to locations in the District of Columbia, Virginia and Maryland, in-store branch locations will be in Delaware, where PNC already has in-store branches in three Giant stores. Under the agreement, more in-store branches and ATMs will be added in existing and new Giant stores during the next 10 years. Financial terms of the agreement were not disclosed.
Coca-Cola to place calorie info on front packaging
ATLANTA Coca-Cola North America announced it will voluntarily place calories-per-serving and servings-per-container information on the front of all packages for its entire U.S. beverage portfolio. The new label, which will begin appearing on packages next year, will highlight both calories per serving and number of servings per container.
“We view our label as a powerful tool for education, an opportunity to communicate with consumers every time they choose one of our products at the store or have a Coca-Cola beverage on their table,” said Celeste Bottorff, vp of Living Well. “We listen to what consumers tell us they want, respond creatively and encourage everyone to make informed decisions about what they drink, choices that reflect a sense of balance and moderation. It’s part of our Live Positively philosophy.”