Wal-Mart’s path into India may be getting easier
New Delhi, India — A Monday report by Bloomberg said that an Indian governmental panel recommended easing market-entry restrictions, making Wal-Mart Stores’ and Carrefour SA’s path into the India retail market potentially much easier.
Citing a finance ministry official as its source, Bloomberg reported that a panel of New Delhi bureaucrats recommended on Friday that overseas companies be allowed to own up to 51% of stores that sell more than one brand if they invest a minimum of $100 million.
“It would get in new players to the market — you’d have more efficiencies coming in,” Abhishek Ranganathan, a Mumbai-based analyst at MF Global Sify Securities Pvt., told Bloomberg. “What something like a Wal-Mart or a Carrefour can actually bring to the table in terms of knowledge, back-end systems and supply-chain efficiencies can help Indian retailers they choose to partner with.”
India currently allows overseas companies 51% ownership in retail shops selling only one brand and 100% in wholesale stores.
No timeline on a ruling on the new recommendation has been announced.
Wal-Mart OKs 90-day filing extension on gender-bias case
San Francisco — Wal-Mart Stores said Friday it agreed that women planning potential gender-bias suits, after a group lawsuit was rejected by the Supreme Court, should get an extra 90 days to file their cases. Opposing lawyers are seeking to extend the filing deadline by 120 days.
According to Bloomberg on Friday, Wal-Mart attorney Theodore Boutrous told a federal judge in San Francisco that the company isn’t opposed to “start the clock fresh” on potential gender-bias claims that were blocked from being filed while Wal-Mart challenged the legality of the group lawsuit, the largest private gender-bias case — numbering over a million workers — in U.S. history.
The ruling is expected within the next day or two about whether or not to give potential plaintiffs until Oct. 20, the date favored by Wal-Mart, or Jan. 16, the date favored by lawyers representing current and former workers, to file new cases.
Bet your ‘Bottom Dollar’ grocery chain expanding
SALISBURY, N.C. — Discount grocery chain Bottom Dollar Food announced plans to enter the greater Pittsburgh and Youngstown, Ohio, markets.
The expansion includes 14 stores that will open in 2012 and is said to create more than 600 jobs.
The banner, which is owned by Delhaize America, has grown to 47 stores in North Carolina, Virginia, Maryland, New Jersey and Pennsylvania. In addition to its expansion in Pittsburgh and Youngstown, Ohio, Bottom Dollar Food also remains focused on expanding in the greater Philadelphia market, which currently encompasses 17 stores in the state of Pennsylvania and two stores in New Jersey.
"We look forward to serving the greater Pittsburgh and Youngstown, Ohio, communities by providing consumers with unbelievably low prices on groceries," said Bottom Dollar Food president Meg Ham. "Customers will find Bottom Dollar Food unique because we carry private brands and the national brands that matter most, and offer a meaningful, efficient assortment of fresh produce, meat and other products. Additionally, we provide our customers an energetic and lighthearted shopping experience."