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
Motorola, Inc. today reported sales of $7.5 billion in the third quarter of 2008.
more »
The global financial crisis has already battered many European banks. Now it is hitting the EU auto industry, the world’s largest producer of motor vehicles.
more »
The European Commission has approved, under EC Treaty state aid rules, a German rescue package intended to stabilise financial markets by providing capital and guarantees to eligible financial institutions.
more »
A new report by the European Commission has assessed the competitiveness of the European Union in the global economy at the end of a decade of rapid economic change.
more »
Revenue surpasses $15 billion with healthy sales of enterprise software and Xbox 360 consoles.
more »
Airport charges are one of the hidden costs of flying and usually they are passed on from airlines to passengers.
more »
US and European leaders agree to series of summits on world finance.
more »
On Monday MEPs will debate a recovery plan for cod stocks in the North Sea and West Scotland. With over 70% of the world’s fish species already fully exploited or depleted, fisheries faces a crisis.
more »
A new study released by the European Commission today confirms the trend towards more private pension provision in the EU but highlights the need for inclusive coverage and adequate pension levels.
more »
Thursday, October 16, Brussels. President of the Republic of Lithuania Valdas Adamkus attended the second day session of the European Council meeting.
more »