Kmart and Target are part of a group of 11 leading retail companies from four countries forming a Web-based retail exchange with combined sales of $300 billion.
Published:
11 April 2000 y., Tuesday
The venture also includes U.S.-based Albertson's, Safeway and CVS; British retailers Marks & Spencer, Tesco and Kingfisher; French groups Casino Guichard-Perrachon and Auchan; and Dutch firm RoyalAhold. The new Web-based, business-to- business exchange is expected to begin operating by midyear. It is designed to facilitate and simplify trading between retailers and more than 100,000 suppliers, partners and distributors. Combined, the group operates more than 30,000 stores. French-Belgian retailer Cora is expected to join soon. The exchange aims to provide publicly available data together with private price and promotion information between multiple buyers and sellers, as well as act as the means for auctioning products. Initially, the founding members will each hold 5 percent of the exchange, allowing others to join later. In the first few years, investment in the partnership is expected to amount to about $100 million, and members say savings generated from the participating retail companies are expected to rapidly exceed costs.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In its first meeting in 2010, the Gas Coordination Group, under the chairmanship of the Commission, has focused today on the assessment of the situation on security of gas supply in the EU-27 and countries of the Energy Community and discussed priorities for the work of the Group in 2010.
more »
Luc Van den Brande, President of the EU Committee of the Regions (CoR), has used his first meeting with the President of the European Council, Herman Van Rompuy, to underline the importance of consultation between local, regional and national authorities.
more »
Basile Nkwesi, Directeur Commercial of Multiprint, speaks for dozens of frustrated business managers in this busy enterprise center when he talks about Cameroon’s costly and unreliable electricity.
more »
During 2009, over 2400 new corporate clients, whose total number currently exceeds 16 thousand, began using Bank SNORAS services.
more »
In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain.
more »
In 2009, the number of counterfeit euro coins removed from circulation was 172 100, down from 195 900 the year before.
more »
Haiti began participating in the International Monetary Fund’s General Data Dissemination System on December 28, 2009, marking a major step forward in the development of its statistical system.
more »
According to the data of NASDAQ OMX Vilnius Stock Exchange, the price of Bank SNORAS registered ordinary shares grew by more than 2.5 times.
more »
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Cadbury PLC of the UK by Kraft Foods Inc. of the US by way of public offer.
more »
Statistics Lithuania informs that construction input prices inNovember 2009, against October, dropped by 0.5 percent.
more »