AGCO will eventually have 20 apprentices at its tractor manufacturing facility in Jackson, Minn. The program will focus on training electrical mechanics and welders to work on AGCO's machinery.
The CMBX 6, a subprime commercial real estate debt index, is surprising investors who anticipated that recent announcements of retail closures would hurt it. The index has rallied even as Toys 'R' Us plans to close its stores and Claire's has filed for bankruptcy.
Westfield London, soon to be the largest retail center in Europe, has begun construction on the first phase of a $1 billion project. The project will include 740,000 square feet of new space for more than 90 new tenants.
Seasons of Tuxedo, a retail development in Winnipeg, Manitoba, Canada, will see the addition of The Rec Room, a "social playground" from Cineplex. The project includes the development of 40,000 square feet of space for live entertainment, restaurants and an arcade.
Amazon has considered acquiring some soon-to-be-empty Toys R Us stores to expand its own brick-and-mortar retail concepts, sources said. The company's physical retail operations include bookstores, a convenience store concept and the 450 Whole Foods Market locations it acquired last year.
FedEx will open office locations in 500 Walmart stores nationwide by 2020 following a 47-store test that spanned six states, the company said Tuesday. Customers will be able to pack and ship parcels from the Walmart locations, as well as have packages sent to the locations for holding for up to five business days.
Toys R Us has heard from several potential buyers for the chain's Canadian operations, and an auction for its 82 stores there has been set for March 29, according to documents filed in US Bankruptcy Court. If there's a winning buyer, the deal would close by April 16.
Amazon has opened six new fulfillment centers in India and created 25 delivery stations to handle furniture and large appliances, the company said. The expansion gives Amazon India 15 full-line fulfillment centers and the ability to serve customers in more than 400 cities.
Falling mall traffic forced Claire's decision to file for bankruptcy protection, the retailer said in its Monday bankruptcy filing. Nearly all major US malls have a Claire's store, and the lion's share of the teen accessories retailer's 7,500 stores are in malls.
James Rhee was inspired by the passion of Ashley Stewart's employees when he took over the sinking plus-size retailer five years ago. In an episode of "Retail Gets Real," Rhee shares how he balanced business principles and people as he set about rebuilding a brand that wins customers with friendship and respect.
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