- Reports are that Nash Finch, which is currently the subject of an informal investigation by the US Securities and Exchange Commission (SEC), may be de-listed from the Nasdaq because it still has not filed its quarterly results for the period ending October 5.
- Wal-Mart China has confirmed that it will open its first store in Beijing in mind-2003, and will operate under the Sam’s Club banner.
- Reuters reports that one year after sending a market research team to China, Tesco continues to seek a joint venture partner for its expansion plans there. The company says it is in not concerned about playing “catch-up” to Carrefour and Wal-Mart, both of which already have units there.
Reuters also notes that Tesco continues to examine its options in Japan. Tesco’s current Asian holdings include stores in Thailand, South Korea, Taiwan and Malaysia.
- Now that Japanese retailer Seiyu has divested a financing division that carried a heavy debt load, it is expected that Wal-Mart will exercise its option to boost its stake in the company to 33.4 percent from its current 6.1 percent, making its Seiyu’s majority shareholder.