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Walmart to pick up Canadian leases from Target

BY Allison Cerra

MISSISSAUGA, Ontario — Walmart Canada has agreed to assume leasehold interests from Target Canada in up to 39 sites that currently are operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

The sites are among up to 220 possible sites whose leasehold interests Target is acquiring as part of a real-estate transaction announced in January. In May, Target selected its initial group of 105 sites, the vast majority of which will become Target stores.

Target plans to announce the selection of a second group of sites this fall and expects to open 100 to 150 Target stores throughout Canada beginning in 2013.

Walmart Canada currently operates 325 stores.

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iGPS customer savings exceed $100 million

BY Allison Cerra

ORLANDO, Fla. — Intelligent Global Pooling Systems said it has helped customers save more than $100 million since the company entered the market in 2006.

iGPS — an operator of the world’s first pallet rental service to provide lightweight, 100% recyclable plastic pallets with embedded radio frequency identification tags — said its savings counter, located on the company’s website, clicked over to nine digits last Saturday morning.

Studies conducted by iGPS customers have documented that use of iGPS pallets results in savings of as much as $2 per unitized load versus wood, iGPS said.

“Taking this level of cost out of the supply chain is a milestone to celebrate for us and, most of all, our customers,” iGPS chief marketing officer Lewis Taffer said. “Our pallet and associated logistics provide supply chain efficiencies that go straight to our customers’ bottom lines. This is a true win for everyone.”

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Ingles Markets declares quarterly cash dividend

BY Allison Cerra

ASHEVILLE, N.C. — Ingles Markets’ board of directors declared a cash dividend of 16.5 cents per share on all of its Class A common stock and 15 cents per share on all of its Class B common stock.

This is an annual rate of 66 cents and 60 cents per share, respectively.

Dividends on both the Class A and Class B common stock are payable July 21 to all shareholders of record on July 7.

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