• The Staten Island Advance reports that Ahold-owned Stop & Shop is acquiring three King Kullen stores in the borough, a step seen as “a significant move to expand its presence on Staten Island,” where it already has two stores.
The sales of the stores marks King Kullen’s complete move out of Staten Island.
• Reuters reports that “India has put a plan to open up its retail industry to foreign supermarkets on hold, a senior government source said on Sunday, an embarrassing turnaround for a beleaguered government fighting to retain the support of key allies.”
The current government had announced that it would allow foreign retailers to own the majority of shares in supermarket chains operating in India, but was met with “fierce opposition” from a number of political quarters - including some that threatened to burn down stores owned by foreign companies - that were concerned that it would do harm to millions of small retailers throughout the country.
• The Wall Street Journal reports that in the UK, the Advertising Standards Authority (ASA) has asked the Office of Fair Trading to look into possible violations of the nation’s advertising code by daily deals site Groupon. According to the story, Groupon is accused of a “failure to conduct promotions fairly, such as not making clear significant terms and conditions; failure to provide evidence that offers are available and exaggeration of savings claims.”
Groupon denies the charges, with a spokesperson saying that the company is “constantly evolving [our] business process to ensure customers receive the best possible experience at the highest standards. We are cooperating fully with the OFT to ensure that the rights of consumers are protected."
The sales of the stores marks King Kullen’s complete move out of Staten Island.
• Reuters reports that “India has put a plan to open up its retail industry to foreign supermarkets on hold, a senior government source said on Sunday, an embarrassing turnaround for a beleaguered government fighting to retain the support of key allies.”
The current government had announced that it would allow foreign retailers to own the majority of shares in supermarket chains operating in India, but was met with “fierce opposition” from a number of political quarters - including some that threatened to burn down stores owned by foreign companies - that were concerned that it would do harm to millions of small retailers throughout the country.
• The Wall Street Journal reports that in the UK, the Advertising Standards Authority (ASA) has asked the Office of Fair Trading to look into possible violations of the nation’s advertising code by daily deals site Groupon. According to the story, Groupon is accused of a “failure to conduct promotions fairly, such as not making clear significant terms and conditions; failure to provide evidence that offers are available and exaggeration of savings claims.”
Groupon denies the charges, with a spokesperson saying that the company is “constantly evolving [our] business process to ensure customers receive the best possible experience at the highest standards. We are cooperating fully with the OFT to ensure that the rights of consumers are protected."
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