Page 14 - ATA 3 OCT 2015

BUSINESS A25
Saturday 3 October 2015

Chick-fil-A opening NYC outpost in national push

CANDICE CHOI expansion and is opening “There are so many places founder Truett Cathy than touched off protests by gay
Associated Press nearly 100 new locations where we have no pres- for its sweet tea and waf- rights advocates after CEO
NEW YORK (AP) — Chick- a year. The chain now has ence, or limited presence. fle fries. On its website, the Dan Cathy voiced support
fil-A will open an outpost in more than 1,900 stores in 42 It’s just a lot of opportunity.” privately-held company for “biblical families.” The
New York City on Saturday, states, although its heaviest Among the areas the says its corporate purpose company has since tried
marking a high-profile mile- presence is in the South. company doesn’t have as is to “glorify God by being a to draw a distinction that
stone in its push to become “We feel like we’re pretty many stores are New Eng- faithful steward of all that is the beliefs of its ownership
a bigger national player. small and we could build land and the Northwest. entrusted to us.” and itsbusiness. In a fact
The Atlanta-based chain restaurants for a long time,” For those who don’t live Its stores are closed on Sun- sheet for the media, Chick-
known for its fried chicken said David Farmer, Chick-fil- near a Chick-fil-A, the chain days, and the New York City fil-A notes that it “does not
sandwiches with pickles A’s vice president of menu may be better known for location will not be an ex- have an opinion as an
has been stepping up its strategy and development. the Christian beliefs of its ception. In 2012, Chick-fil-A organization.”q

Wal-Mart HQ cuts ‘to become a more agile company’

Wal-Mart Chief Executive Officer Doug McMillon speaks at the company’s shareholder meeting has made in e-commerce undergoing a major over-
as well as higher wages for haul in response. It’s trying
in Fayetteville, Ark. On Friday, Oct. 2, 2015, Wal-Mart laid off 450 workers at its headquarters in hourly workers. to improve pricing and se-
A previous round of lay- lection as well as beefing
Bentonville, Ark., as the world’s largest retailer attempts to become more nimble to compete offs in Bentonville was an- up customer service. It’s
nounced in 2010 when 300 also expanding the num-
with the likes of Amazon.com. (AP Photo/Danny Johnston) jobs were eliminated, but ber of centers dedicated
the latest marks the larg- to fulfilling e-commerce or-
A. D’INNOCENZIO There are more than 18,000 spoken with individually est cuts since 2009, when ders and it announced this
AP Retail Writer people who work at the early on Friday. the discounter laid off week that it would accel-
NEW YORK (AP) — Wal- headquarters in Benton- The layoffs follow months 800 employees as the U.S. erate the expansion of its
Mart laid off 450 workers at ville, Arkansas, a close-knit of rumors about them and emerged from recession. grocery deliveries.
its headquarters Friday as community in northwest they arrived less than two While it is the behemoth “Our customers are chang-
the world’s largest retailer Arkansas. The cuts were months after Wal-Mart of retail, Wal-Mart Stores ing. Retail is changing and
attempts to become more across all areas, from fi- trimmed its annual earn- Inc. is attempting to make we must change,” McMil-
nimble so that it can better nance to global e-com- ings outlook as profits fell. changes that will allow it lon wrote in the memo
compete with the likes of merce. The company says That is partly because of to “move with speed and obtained by The Associ-
Amazon.com. that the employees were hefty investments Wal-Mart purpose,” according to a ated Press. “We need to
memo sent by Wal-Mart become a more agile
CEO Doug McMillon to company that can easily
employees on Friday. adapt to shifting customer
Wal-Mart is facing intense demand.”
competition on all fronts, Even with the economy
ranging from Amazon.com in recovery mode, retail-
and dollar stores to the ers are getting leaner and
traditional grocery store more agile with competi-
chains that it has tried to tion only growing fiercer.
challenge. Target laid off 1,700 em-
It is also trying to keep pace ployees this year, largely at
with the rapidly changing its headquarters in Minne-
behavior of shoppers who apolis. Whole Foods Mar-
are jumping back and ket announced this week
forth between their smart- that it would cut 1,500 jobs
phones and store aisles over the next eight weeks
when shopping. so that it can keep its pric-
Wal-Mart’s U.S. business is es competitive.q

Russian second largest airline in crisis as bankruptcy looms

MOSCOW (AP) — Russia’s However, the takeover has the state-owned RIA No- last two years. On Friday, were listed as canceled,
second-largest airline, Tran- collapsed in recent days vosti news agency. He Aeroflot’s general director while others were operat-
saero, is in crisis after two and on Friday two major blamed “ineffective man- Vitaly Savelyev was quoted ing. Transaero had said
creditors on Friday said Russian lenders, Sberbank agement” at Transaero for by Russian news agencies Thursday it was revising its
they will file bankruptcy and Alfa Bank, announced the company’s troubles. as saying Transaero could schedule. Aeroflot led Rus-
proceedings following the their intention to bring Transaero shares fell by stop all flights Oct. 15, and sian airlines by transporting
collapse of a takeover bankruptcy proceedings over 40 percent in Moscow that between 5,000 and 17.28 million passengers on
plan. against Transaero, accord- trading Friday and traded 6,000 of Transaero’s roughly domestic and internation-
Transaero has been strug- ing to statements on a at less than 10 percent 11,500 staff could be of- al routes in the first seven
gling with debt and last Russian federal company of their value compared fered jobs with Aeroflot. months of the year, com-
month a government com- register. The Russian gov- to eight months ago. The Some scheduled Transaero pared with 9.36 million for
mission arranged for most ernment now considers Russian airline sector as a services to destinations Transaero, according to
of the company’s shares to that bankruptcy is “the only whole has suffered from such as the western Russian Russia’s Federal Air Trans-
be taken over by the coun- possible option,” economy lower demand for foreign city of Kaliningrad and the port Agency. The next big-
try’s largest carrier, state- minister Alexei Ulyukaev travel due to the fall in the Crimean city of Simferopol gest airline, S7, transported
controlled Aeroflot. was quoted as saying by value of the ruble over the on Friday and Saturday 5.45 million passengers.q