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Walmart sets up Cornershop buy

Walmart Inc. will pay $225 million to acquire Cornershop Inc., an e-commerce platform that delivers goods from supermarkets, pharmacies and specialty food retailers to customers in Mexico and Chile.

In a news release Thursday, Walmart called the deal "an important step forward in accelerating the company's omnichannel capabilities and growth in Latin America." Walmart de Mexico, which includes the Bentonville retailer's Central American stores, is a key market for Walmart's international division.

"Cornershop's digital expertise, technology and capabilities will strengthen our successful businesses in Mexico and Chile and provide learning for other markets in which we operate," Judith McKenna, president and chief executive officer of Walmart International, said in the release.

Cornershop's current management will remain in place. The deal, subject to regulatory approval, is expected to close by year's end.

-- Serenah McKay

Four organizations earn top honors

Four organizations received top honors in the 24th annual Awards Celebration for the Governor's Quality Award Program held Thursday at the Marriott Hotel in downtown Little Rock.

J.V. Manufacturing Inc. of Springdale, Springdale Water Utilities, Unity Health-White County of Searcy and Washington Regional Medical Center in Fayetteville received the Governor's Award for Performance Excellence.

Two other organizations, North Arkansas Regional Medical Center in Harrison and United Health-Harris Medical Center in Newport, received the next tier of recognition in the awards program, the Achievement Level Award, according to a news release.

The dinner and awards presentation recognized 25 organizations.

The Governor's Quality Award Program, a partner of the Arkansas State Chamber of Commerce, is designed to encourage Arkansas organizations to continue to improve customer satisfaction, product and service outcomes, workforce satisfaction, revenue and market share and social responsibility.

-- Noel Oman

State index closes down 4.28 points

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 4.28 to 458.44 Thursday.

"The S&P 500 Index closed higher for the fourth-straight day as technology stocks rallied in the absence of any new tariff announcements with China," said Leon Lants, managing director at Stephens Inc. in Little Rock.

Total volume for the index was 16.8 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 09/14/2018

Print Headline: News in brief


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