Content about The Associated Press

June 7, 2013

NEW YORK — Target has set its sights on consumers who want organic, natural products, with a new organic and natural store brand called Simply Balanced, according to a report by the Associated Press.

Target told the AP that it will begin to roll out drinks and snacks like corn chips on Sunday, June 9. According to the report, the line is an outgrowth of similar products within its existing Archer Farms store brand, which is positioned as a premium alternative to national name brands.

April 25, 2013

Best Buy CEO Hubert Joly earned nearly $20 million during his first five months on the job in 2012, the Associated Press reported.

NEW YORK — Best Buy CEO Hubert Joly earned nearly $20 million during his first five months on the job in 2012, the Associated Press reported.
 
Joly, a turnaround expert, took the reins of the chain in September. Former CEO Brian Dunn left in April when a board investigation found that Dunn violated company policy by having a "close personal relationship" with a female staffer. Board member Mike Mikan, one of Best Buy’s board members, served as temporary CEO before Joly was hired.
 

March 21, 2013

The Scan & Go system Walmart introduced last fall in Northwest Arkansas and Atlanta has been expanded to six new markets.

The Scan & Go system Walmart introduced last fall in Northwest Arkansas and Atlanta has been expanded to six new markets.

The Associated Press reported this week that Walmart’s Scan & Go program, initially available in about 70 stores in two markets, has been expanded to 200 stores in new markets including Dallas, Houston, Austin, Denver, Portland and Seattle.

The system enables shoppers who download an app to scan items with their smartphones and then pay at self-checkout terminals by scanning a code that displays on their smartphone screen.

October 22, 2012

Greeting card maker American Greetings announced last week that its board has formed a committee of independent directors to consider an offer to privatize the company, reported the Associated Press.

CLEVELAND — Greeting card maker American Greetings announced last week that its board has formed a committee of independent directors to consider an offer to privatize the company, reported the Associated Press.

According to AP, CEO Zev Weiss and his brother, president and COO Jeffrey Weiss, along with other investors and executives, submitted a proposal to the board on Sept. 25. The group wants to buy all of the company's common stock that it doesn't already own for $17.18 per share, valuing American Greetings at approximately $581 million.

January 17, 2011

The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

NEW YORK -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.