Coles Myer reported that interested buyers have approached it regarding acquisition and said it would consider any valid offer. Industry observers speculate that a consortium of private equity companies or international retailers including Wal-Mart Stores and Tesco PLC are possible bidders.
Recent visitors to top-10 Web site and popular retailer Amazon.com may have noticed a new feature of the site -- advertising. Last week, ads for Ford Motor Co. and Fidelity Investments appeared on the site's home page. It's part of a larger trend by popular retailers, including Wal-Mart Stores and The Home Depot, to monetize their online space by getting into the advertising business.
Retail sales growth in the Chicago area is being driven by big-box stores, while department stores at malls are in decline, according to a study. "The department stores aren't going anywhere, but the Targets and Wal-Marts and Kohl's of the world, they keep adding units," said John C. Melaniphy, founder and president of Melaniphy & Associates, which conducted the study.