- Fleming Announces Plans For Sale Of Wisconsin Retail Stores
Fleming Companies, Inc. has announced plans to sell its Rainbow Foods stores in Wisconsin, with eight of the units to go to “current and prospective Sentry retailers,” and three to Roundy’s.
The transaction with Roundy's is expected to be finalized within 45 days and is subject to closing conditions.
Financial terms will be announced later, according to the company. Fleming reiterated its plan to sell all of its remaining retail locations.
- Puerto Rico To Oppose Wal-Mart Acquisition There
The Associated Press reports this morning that the Puerto Rican government plans to oppose Wal-Mart’s planned acquisition of 35-store Supermercado Amigo, on the grounds that it violates the island’s anti-trust laws. The US Federal Trade Commission (FTC) has already sanctioned the $225 million acquisition.
Wal-Mart currently operates 19 units in Puerto Rico, under both the Wal-Mart and Sam’s Club banners.
- Acrylamide Concern Isn’t Over Just Yet
Published reports say that the German Minister of Health plans to ask food producers to voluntarily lower acrylamide levels in foods, though there are no plans for “strict” legislation.
The call comes as German Christmas gingerbread, also known as “Lebkuchen,” has been found to contain up to seven times the amount of the acrylamide found in potato chips and French fries.
- Costco Opens Furniture-Only Warehouse Club
Costco opened its first stand-along furniture club store yesterday. The Kirkland, Washington, store reportedly has 20 design professionals on hand to help consumers, departing from the traditional clubs’ self-service approach.
This is the first of Costco’s planned forays into new territory; the company also plans to open a gourmet grocery club store next year.
- McDonald's Japan To Halve New Store Openings Next Year
On the same day the McDonald’s Corp. CEO Jack Greenberg abruptly retired, McDonald's Holdings Co Ltd (Japan) announced that it will cut new store openings by about half in 2003 compared to 2002. The company also plans to close a number of stores, with the result being that there actually could be fewer McDonald’s units in Japan next year at this time.
Which is probably one of the reasons Greenberg retired.
(See retirement story below in “Executive Suite”.)