U.S. – Staples, Inc. and Office Depot, Inc. announced on February 4th that the companies have entered into a definitive agreement under which Staples will acquire all of the outstanding shares of Office Depot.
Comercial Mexicana sells 160 stores to Soriana
MEXICO – On January 28th Soriana and Controladora Comercial Mexicana (CCM) reported that they have reached an agreement in which Soriana will buy 160 stores from CCM of the Comercial Mexicana, Mega, Bodega Comercial Mexicana and Alprecio banners.
Promart announces expansion plans, will complete 30 stores in 2018
PERU – Promart, the home improvement chain of Peru’s Intercorp Group, plans to expand its network to complete 30 stores in the country by 2018.
Brazilian retail chains fined R $ 28 million for abusive practices
BRAZIL – The Department of Consumer Protection and Defense (DPDC), a department under the Ministry of Justice of Brazil, fined Casas Bahia, Magazine Luiza, Ponto Frio (Globex), Ricardo Eletro, Lojas Insinuante and Fast Shop for their abusive practices in product sales.
Falabella Group announces USD 4.363 million investment plan for the region
CHILE – On January 5th the Falabella Group announced their USD 4,363 million investment plan for the 2015-2018 period. The Chilean Group that operates in six countries of the region: Chile, Argentina, Brazil, Colombia, Peru and Uruguay; has five business units: department stores, home improvement, supermarkets, real estate and financial services. Approximately 53% of the investment, USD 2,298 million, will be allocated to the opening of 140 new stores and 11 new malls.
New Eurosierras headquarters in Medellin
COLOMBIA – Eurosierras, distributor of several premium brands for the wood processing industry, is enjoying since August 15th their new headquarters located in the area of Almacentro in Medellin, Antioquia.
The Home Depot Mexico opens online sales
MEXICO – The Home Depot Mexico launched its online store. In its first stage online sale are available in the DF State of Mexico, Jalisco and Nuevo Leon, where The Home Depot has 39 of its 109 Mexican stores.
IKEA Miami to open on August 27
IKEA, the world’s leading home furnishings retailer, announced that its future Miami-Dade store will open in Sweetwater, Florida at 9 a.m. on Wednesday, August 27, 2014.
ACE reports best first quarter in its 90 year history
U.S. – ACE Hardware Corporation, the largest retailer-owned hardware cooperative in the industry, reported the Company’s best first quarter for both revenues and net income in its 90 year history.
Net income up 57% for Via Varejo in 1Q14
BRAZIL – Via Varejo reported net income of R$ 179 million in 1Q14, up 57% from 1Q13, with net margin of 3.3%.
Falabella plans to open four stores this year in Peru
PERU – As reported by the Peruvian newspaper Gestion, Falabella plans to open four stores this year in Peru and repeat that number in 2015, with emphasis on the provinces and in outlying areas of Lima.
New Placacentro in southern Argentina
ARGENTINA – On February 21 Placacentro new premises located at 2505 Av Malvinas Islands, Rio Grande, Tierra del Fuego was inaugurated.