The tax bill for a spinoff is reportedly less than the tax bill for an outright sale. As would-be buyers eye a chance to bid on Valero Energy Corp.’s Corner Store chain, after it was announced the company plans to divest the stores, San Antonio Business Journal has reported that Valero could instead opt to [...]
Auction to sell convenience store sites expected to interest private equity firms, as well as c-store operators. Valero Energy Corp. is selling its retail business, which is comprised of nearly 1,000 U.S. stores and some 775 units in Canada. The stores are being divested through an auction that could bring in more than $3.5 billion [...]
Six violations in 48 months could result in a $10,000 fine. The FDA has issued a one-page fact sheet titled “Overview: Tobacco Retailer Warning Letters.” The fact sheet explains why warning letters are issued to tobacco retailers, what a retailer needs to do if a warning letter is received and what FDA tobacco regulations apply [...]
The York, Pa.-based convenience store chain moves from the No. 27 spot it held in 2011 to No. 15 among fastest growing companies. Rutter’s Farm Stores has ranked No. 15 on the 16th annual list of the 50 top businesses making significant contributions to the growth, strength and success of the central Pennsylvania economy. This [...]
“The proposal is a lose-lose-lose for merchants, consumers and competition,” says NRF CEO. The National Retail Federation’s Board of Directors has authorized the Federation to go to court to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over skyrocketing Visa and MasterCard credit card swipe fees that cost consumers hundreds of dollars [...]
When it comes to data security, all retailers need to be prepared for the worst scenario, but that can’t happen if they aren’t aware of PCI requirements and the severe consequences that can result from a data breach. By John Lofstock, Editor When security breaches make the news, the typical victims are retailing giants, such [...]
A market study takes a close look at the generational differences in eating habits of Americans to help the retail and foodservice industries Packaged Facts released a report that analyzes America’s mealtime tendencies and eating habits. The study titled “How We Eat: Retail and Foodservice Opportunities in When and Where America Eats” reports that age [...]
Company prepares to spin off fuel stations. Valero Energy Corp.’s board of directors has given the official OK for the company to sell or spin off its network of fuel stations, which could be worth as much as $2.8 billion, Businessweek reported. Spinning off the retail business is one of many moves CEO Bill Klesse [...]
SymphonyIRI works with more than 19,000 retailers by the end of 2012. SymphonyIRI builds its market position in convenience stores through recent retailer agreements, such as BP and Murphy Oil, which will provide data to more than 19,000 sample stores by the end of 2012. SymphonyIRI AllScan Convenience Store Tracking Service already serves more than [...]
More than 60,000 New York citizens oppose the city’s proposed bans on large soft drinks. New Yorkers have started to petition against Mayor Bloomberg’s proposed “soda ban,” which will create size restrictions on soft drinks, juice drinks, sports drinks, flavored water and teas sold at many retail outlets. The ban would affect delis, restaurants, movie [...]
Some speculate Visa and MasterCard could settle lawsuit before September Court date. Visa Inc. and MasterCard Inc. are reportedly prepared to settle a seven-year lawsuit brought by retailers, regarding swipe fee costs, sometime late this month—even as soon as next week, Bloomberg reported. The deal may include payments to retailers and a temporary cut in [...]
First compliance deadline set for April 2013. American Express issuer is joining MasterCard, Visa and Discover in integrating EMV chip-based contact, contactless and mobile payments for its American Express-branded cards in the U.S., Contactless News Online reported. Merchants, processors and issuers of AmEx cards will need to comply with its requirements and deadlines: • April [...]
“These stores are great assets and will complement our existing Corner Store network,” says CEO of Valero Retail. Valero Retail Holdings, a subsidiary of Valero Energy Corp., is purchasing 29 stores in the Little Rock and Hot Springs, Ark. areas from The Crackerbox Stores and converting them to Valero Corner Stores in the coming months. [...]
Technomic is updating its 2007 landmark study of the Retailer Meal Solutions segment to fit changing trends. Restaurants and retailers have a long history of competing over consumers’ share of stomach. That competition becomes particularly intense late in the day, when busy families must decide what’s for dinner. If money is tight, retailers often win [...]
Council to provide training on secure installation of payment applications to support merchant PCI DSS compliance efforts. The PCI Security Standards Council (PCI SSC), a global, open industry standards body providing management of the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS), [...]