Lawn and garden concept opens in Arizona, with a twist
Its nickname is "the Walmart of weed."
Described as the nation’s only hydroponics franchise that openly talks about medical marijuana, weGrow opened a 21,000-sq.-ft. store in Phoenix earlier this month.
The growing chain does not actually sell any marijuana itself, just everything one would need to grow it, according to Dhar Mann, founder of weGrow. The concept already has two locations up and running in Oakland and Sacramento. A Washington, D.C., franchise and Tucson, Ariz., franchise are coming soon, according to the company’s website.
The store features a large selection of hydroponic supplies, and also offers a variety of services aimed at educating medical marijuana cultivators, including live grow demonstrations with real plants, an on-site doctor for medical cannabis evaluations, expert technicians to teach safe and responsible grow practices, and even an on-site laboratory to test cannabis before patient consumption.
It's about time we all start
It's about time we all start making money from this weed and respect the wishes of medical marijuana patients. Business revenue and tax revenue increases.
Retail shrinkage continues to expand
Shoplifting, employee theft and organized crime have combined to boost retail shrinkage to 1.58%, according to the National Retail Federation (NRF). These preliminary results, compiled from a survey conducted by Dr. Richard Hollinger of the University of Florida, compare with a 1.44% shrinkage rate in 2009.
According to the survey, total retail losses cost retailers $37.1 billion last year, up from $33.5 billion in 2009. NRF’s recently released Organized Retail Crime survey found that 95% of retailers have been victims of organized retail crime over the last 12 months.
The preliminary results found that the majority of retail shrinkage last year was due to employee theft, at $16.2 billion, accounting for 43.7% of total losses. Retailers reported that 18.7% of cases involved collusion between internal and external bad actors. Retailers lost $12.1 billion to shoplifting, which is 32.6% of the total losses. Other losses included administrative error ($4.8 billion and 12.9% of shrinkage) and vendor fraud ($2 billion and 5.4% of shrinkage). Retailers said that the cause of the remaining shrinkage was unknown.
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United Stationers hires former USG exec
United Stationers, a leading distributor of office and business products, has hired Fareed Khan as its senior VP and chief financial officer, effective July 18. He will report directly to Cody Phipps, president and CEO.
Khan, 45, spent 12 years with USG Corp., where he most recently served as executive VP finance and strategy. His responsibilities included leading all finance, accounting, corporate strategy, information technology, pension and investor relations activities. Prior to that, Khan served as president and CEO of USG Building Systems, USG Corp.’s largest operating unit comprised of U.S. Gypsum Co. and USG Interiors Inc. Other senior level management positions held by Khan at USG included a variety of strategy, business development, marketing, supply chain management and general management roles.
Before joining USG in 1999, Khan was a consultant with McKinsey & Co., where he served global clients on a variety of projects, including acquisition analysis, supply chain optimization and organization redesign.
Khan succeeds Victoria Reich, who announced her planned departure from the company in November 2010 and has remained in her role to support a smooth transition.
Based in Deerfield, Ill., United Stationers reported 2010 net sales of approximately $4.8 billion.
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