Retailers, consumers and prices
The world’s largest retailer said on Friday that it was successful with its tender offer to acquire Chile’s largest supermarket chain Distribucion y Servicio D&S S.A., winning a strong base in the local market and likely sparking retail competition in the area. In 2008, Chile’s antitrust tribunal nixed a proposed takeover of D&S by regional retailer Falabella.
Wal-Mart’s move comes at a time when acquisitions or takeovers have been few and far between as companies struggle to secure financing for such deals.
The Bentonville, Arkansas-based retailer, one of the few bright spots in the U.S. retail landscape in the past year, launched its bid for all of the issued and outstanding shares in D&S, including American Depositary Shares, in December.
Wal-Mart said it secured about a 58.2 percent stake in the Chilean company.
Also in the basket:
Barney’s may be sold by Dubai-based owner – Bloomberg
Not belt tightening by retail customers (if there are any left), but the latest round of cost cuts by retailers themselves.
Williams-Sonoma is cutting 18 percent of its workforce and also paired back capital spending.