Wal-Mart eyes big investment in Brazilian market
Retail giant Wal-Mart has announced a planned increased investment in the Brazilian market, to the tune of $649 million.
In a news conference held this week in Brasilia, Brazil, Vincente Trius, CEO of Wal-Mart’s Brazilian unit, said, “We are very committed to growth in Brazil. It is a strategic market for Wal-Mart. Brazil has increased in importance for us in the last few years.”
Wal-Mart’s competitors in Brazil include French retail chain Carrefour and Brazil’s Companhia Brasileira de Distribuicao. Wal-Mart has other lower-end banners in the country, including Todo Dia and Maxxi. The new Brazilian stores reportedly will be in various formats, including hypermarkets, supermarkets and wholesale outlets.
Wal-Mart operates in several countries in South and Central America, including Argentina, Brazil, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
84 Lumber holds grand opening of four facilities
84 Lumber held grand opening celebrations of four new locations across the country Nov. 27, with simultaneous events in Oregon, Louisiana, Florida and Utah.
West Jordan, Utah, hosted a new 84 Lumber building materials supply yard as well as a truss and panel manufacturing facility. The Eighty Four, Pa.-based company also unveiled new stores in Redmond, Ore.; Pearl River, La.; and Sanford, Fla.
The openings included ribbon-cutting ceremonies and donations to the stores’ respective Habitat for Humanity chapters.
84 Lumber operates in more than 425 locations nationwide.
Fastenal announces share repurchase program
Construction supply company Fastenal’s board of directors has authorized the company to purchase up to an additional 1 million shares of its common stock this week.
The company has purchased approximately 2.1 million shares this year to date.
The company has approximately 149 million shares of common stock outstanding, and these repurchases have consumed all of the previous stock repurchase authorizations.
Winona, Minn.-based Fastenal sells industrial and construction supplies and has 2,150 stores in the United States, Canada, Puerto Rico, Mexico and Singapore.