Wal-Mart ups food offerings in New Jersey stores
Freehold Township, N.J. Wal-Mart Stores will add full grocery aisles to stores in Neptune and Freehold Township, N.J., as it seeks to boost food sales and put pressure on supermarket competitors.
In the last 18 months, the retail giant has opened six new stores in New Jersey with full supermarkets. Now Wal-Mart is building a 44,442-sq.-ft. expansion to its Neptune store with full grocery departments, expected to open this fall. A 35,211-sq.-ft. expansion will add grocery to the Freehold Township store by late spring 2011, Wal-Mart said.
Visa launches new payment card security initiative
On Wednesday, Visa Inc. launched a new payment card security initiative that the company said could eliminate the need for retailers and other organizations to store full, 16-digit credit and debit card numbers on their systems.
The move comes in response to long-standing pressure from the National Retail Federation, which maintains that merchants should not be required to store the information because of security risks.
Under the new initiative, Visa said it will push card issuers and acquiring banks to allow merchants to present truncated, disguised or otherwise masked card numbers for dispute resolution cases. Some permit this already, but the goal is to make the practice broader, said Eduardo Perez, head of global payment system security at Visa.
Visa said it plans to seek feedback from industry stakeholders on the challenges and issues involved in moving to a more secure payment industry model. After Visa reviews the feedback, it will decide whether to make the recommendations a mandated requirement.
West Marine sales rise 8.4% in 2Q
West Marine Inc. reported Thursday that its net revenues for the quarter ended July 3 were $233.4 million, an increase of 8.4% over the year-ago period.
Same-store sales jumped 9.4%.
According to the company, sales benefitted from warmer weather in the northeast. However, “in the southeast, we have been starting to feel the effects of the oil spill in the Gulf of Mexico as boating activities are increasingly restricted,” said Geoff Eisenberg, CEO.
West Marine, a specialty retailer of boating supplies and accessories, operates 330 company-operated stores in 38 states, Puerto Rico and Canada, and two franchised stores in Turkey.