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	<title>TrafficCourt</title>
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	<lastBuildDate>Thu, 10 May 2012 15:51:36 +0000</lastBuildDate>
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		<title>High School Musical</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/10/high-school-musical/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/10/high-school-musical/#comments</comments>
		<pubDate>Thu, 10 May 2012 15:51:36 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Quirky]]></category>
		<category><![CDATA[Retail]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3928</guid>
		<description><![CDATA[This is something we don&#8217;t see everyday. Various news sources report that students at Algonquin Regional High School in Northborough, Massachusetts have written a musical about the grocery chain Wegmans, which will have its premiere tonight.
According to the MetroWest Daily News:

Longtime drama teacher Maura Morrison really had no idea the can of worms she was [...]]]></description>
			<content:encoded><![CDATA[<p>This is something we don&#8217;t see everyday. Various news sources report that students at Algonquin Regional High School in Northborough, Massachusetts have <a  href="http://blogs.wickedlocal.com/massmarkets/2012/05/09/the-wegmans-grocery-chain-has-such-a-cult-following-it-gets-its-own-musical-this-week/#axzz1uSbRfaqT" target="_blank">written a musical about the grocery chain Wegmans</a>, which will have its premiere tonight.</p>
<p>According to the <i>MetroWest Daily News</i>:</p>
<blockquote><p>
Longtime drama teacher Maura Morrison really had no idea the can of worms she was opening in January when she suggested a scene for an improvised song during a routine exercise with her Drama 2 class.</p>
<p>She told students to belt out a tune about the frustration one feels when he or she is stuck in the 12-item-or-less line with someone in front of them conspicuously sporting mounds of groceries.</p>
<p>“I was really kind of immune to the whole Wegmans thing,” she admitted, since she lives in Concord and doesn’t frequent the store.</p>
<p>Her students were so enamored with the idea of singing about Wegmans that she also threw the idea out to her Advanced Drama class, which normally does a short 20-minute production on a Friday in the school’s smaller black box theater.</p>
<p>After weeks of brainstorming ideas, however, the group decided to put on a full-on musical, and things just kind of snowballed from there.</p></blockquote>
<p>Here&#8217;s the <a  href="http://web.nsboro.k12.ma.us/algonquin/documents/WegmansTheMusical.pdf" target="_blank">brochure posted</a> on the school&#8217;s website. About 15 employees from the local Wegmans plan to attend the show this evening.</p>
<p>Whole Foods, eat your heart out! </p>
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		<title>New Flagship in Times Square</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/09/new-flagship-in-times-square/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/09/new-flagship-in-times-square/#comments</comments>
		<pubDate>Wed, 09 May 2012 18:00:54 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Retail Real Estate]]></category>
		<category><![CDATA[Trends]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3920</guid>
		<description><![CDATA[It looks like the trend of foreign retailers using landmark New York locations for supersized flagship stores is going strong. Superdry, a U.K.-based chain that entered U.S. for the first time a year or two ago, has just announced it will open a 14,000-sq.-ft. flagship location in Times Square. Like its predecessors, the new store [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://blog.retailtrafficmag.com/retail_traffic_court/wp-content/uploads/2012/05/superdry-600-300x234.jpg" alt="superdry-600" title="superdry-600" width="300" height="234" class="alignleft size-medium wp-image-3925" />It looks like the trend of foreign retailers <a  href="http://retailtrafficmag.com/management/siteoptimizer/retailers_showy_flagships_11152011/">using landmark New York locations for supersized flagship stores</a> is going strong. Superdry, a U.K.-based chain that <a  href="http://retailtrafficmag.com/point_of_entry_2011/point_of_entry_superdry/">entered U.S. for the first time a year or two ago</a>, has just announced it will <a  href="http://www.sacbee.com/2012/05/09/4477034/superdry-usa-to-unveil-14000-square.html" target="_blank">open a 14,000-sq.-ft. flagship location in Times Square</a>. Like its predecessors, the new store will incorporate new design elements meant to impress, according to <i>The Sacramento Bee</i>:</p>
<blockquote><p>Superdry is celebrated for housing its collections in uniquely designed retail environments. Times Square will be no exception, featuring oversized jam jar chandeliers, as well as triple patchwork tables made from reclaimed wood and an extensive use of raw steel. New design innovations never before seen in Superdry&#8217;s U.S. stores will include an industrial bomb light chandelier made from British factory lights salvaged from the 1940&#8217;s, bespoke cubby-style denim cabinetry, vetrine mannequin display units and a dedicated area to the brand&#8217;s leather and premium footwear collection.</p></blockquote>
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		<title>Big Moment for Simon</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/07/big-moment-for-simon/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/07/big-moment-for-simon/#comments</comments>
		<pubDate>Mon, 07 May 2012 16:58:06 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[REITs]]></category>
		<category><![CDATA[Retail Real Estate]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3914</guid>
		<description><![CDATA[Simon Property Group has grown into the largest real estate company in the country, according to the Indianapolis Business Journal.
Simon, which controls the largest regional mall portfolio and the largest outlet centers portfolio in the U.S., in addition to numerous overseas properties, is the only real estate company listed on Standard &#038; Poor&#8217;s 100 index, [...]]]></description>
			<content:encoded><![CDATA[<p><a  href="http://www.simon.com/" target="_blank">Simon Property Group</a> has <a  href="http://abclocal.go.com/wls/story?section=news/local/indiana&#038;id=8651222" target="_blank">grown into the largest real estate company</a> in the country, according to the <i>Indianapolis Business Journal</i>.</p>
<p>Simon, which controls the largest regional mall portfolio and the largest outlet centers portfolio in the U.S., in addition to <a  href="http://retailtrafficmag.com/development/newdevelopment/simon_continues_international_push_04102012/">numerous overseas properties</a>, is the only real estate company listed on Standard &#038; Poor&#8217;s 100 index, a list which includes such global giants as Coca-Cola and McDonald&#8217;s. </p>
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		<title>GGP Expresses Interest in Vornado Malls</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/03/ggp-expresses-interest-in-vornado-malls/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/03/ggp-expresses-interest-in-vornado-malls/#comments</comments>
		<pubDate>Thu, 03 May 2012 17:47:06 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[REITs]]></category>
		<category><![CDATA[Retail Real Estate]]></category>
		<category><![CDATA[Trends]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3910</guid>
		<description><![CDATA[General Growth Properties has been laying low on the acquisition front since coming out of bankruptcy in late 2010. But hearing that Vornado Realty Trust may be putting its malls on the market in the near future, GGP CEO Sandeep Mathrani says the REIT might want to buy some of those assets.
During GGP&#8217;s first quarter [...]]]></description>
			<content:encoded><![CDATA[<p>General Growth Properties has been laying low on the acquisition front since coming out of bankruptcy in late 2010. But hearing that Vornado Realty Trust may be <a  href="http://retailtrafficmag.com/finance/reits/vornado_dispositions_help_regain_luster_04192012/">putting its malls on the market</a> in the near future, GGP CEO Sandeep Mathrani says the REIT <a  href="http://www.bloomberg.com/news/2012-05-02/general-growth-interested-in-vornado-malls-mathrani-says.html" target="_blank">might want to buy some of those assets</a>.</p>
<p>During GGP&#8217;s first quarter earnings call, Mathrani told analysts:</p>
<blockquote><p>“I like the malls, and I’m sure if they come to market we’d hope to be able to participate in attempting to buy the ‘A’ malls.”</p></blockquote>
<p>This proclamation comes a day after CEO of Starwood Capital Group, which recently invested about $1 billion in Westfield malls, explained that it&#8217;s <a  href="http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/02/starwood-ceo-explains-westfield-deal/">not in the market for a large mall portfolio</a>.</p>
<p>Vornado&#8217;s assets include 14 malls, among them Kings Plaza in Brooklyn and Monmouth Mall in Eatontown, N.J.</p>
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		<title>Same-Store Sales Growth Under 1 Percent in April</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/03/same-store-sales-growth-under-1-percent-in-april/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/03/same-store-sales-growth-under-1-percent-in-april/#comments</comments>
		<pubDate>Thu, 03 May 2012 16:32:36 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Research]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Trends]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3904</guid>
		<description><![CDATA[U.S. same-store sales lost most of their momentum in April, with most market sources reporting aggregate growth under 1 percent for the industry. The slowdown, which stands in stark contrast to robust sales growth in recent months, is being attributed to the early Easter, a sharp decline in Walgreen Corp.&#8217;s sales because of its loss [...]]]></description>
			<content:encoded><![CDATA[<p>U.S. same-store sales lost most of their momentum in April, with most market sources reporting aggregate growth under 1 percent for the industry. The slowdown, which stands in stark contrast to robust sales growth in recent months, is being attributed to the early Easter, a sharp decline in Walgreen Corp.&#8217;s sales because of its loss of Express Scripts and tough year-over-year comparisons.</p>
<p>Thomson Reuters, which tracks 20 retail chains, reports that its same-store sales index for April <a  href="http://www.reuters.com/article/2012/05/03/us-usa-retail-sales-idUSBRE8420LL20120503" target="_blank">rose just 0.8 percent</a>. Analysts were predicting an increase of 1.5 percent for the month.</p>
<p>ICSC&#8217;s tally of 22 retailers <a  href="http://www.icsc.org/datadir/rsrch/cs/cs20120503.pdf" target="_blank">showed an increase of 0.6 percent</a> in same-store sales. Drug stores had a particularly bad month, with a sales decrease of 4.1 percent. Luxury stores performed the best, posting growth of 5.8 percent. Apparel retailers were somewhere in between, with growth of 2.2 percent.</p>
<p>The blog <i>RetailSails</i>, which looks at results from 21 retailers, reported growth of 0.8 percent. But its authors believe there is still reason for optimism:</p>
<blockquote><p> There was a significant drop-off in foot traffic after Easter, and because of the earlier Easter and Mother’s Day falling later this year than last, a lull in activity that seemed to affect the majority of retailers.</p>
<p>However, the combined March-April period (excluding Walgreen) continued to show positive momentum, and higher gas prices have yet to have a significant impact. We are seeing a lot more full-priced selling of apparel and seasonal merchandise in the first quarter compared to heavy promotional activity over the holiday season, which we expect will help bolster first quarter margins.</p></blockquote>
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		<title>Starwood CEO Explains Westfield Deal</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/02/starwood-ceo-explains-westfield-deal/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/02/starwood-ceo-explains-westfield-deal/#comments</comments>
		<pubDate>Wed, 02 May 2012 15:53:38 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[Management & Leasing]]></category>
		<category><![CDATA[Retail Real Estate]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3900</guid>
		<description><![CDATA[Starwood Capital Group has recently made one of the biggest deals of the year in the U.S. mall sector, but don&#8217;t look for Starwood to become a major retail landlord any time soon.
In an interview with Bloomberg, Starwood CEO Barry Sternlicht explains the reasons the firm wanted a stake in the Westfield portfolio: some of [...]]]></description>
			<content:encoded><![CDATA[<p>Starwood Capital Group has recently <a  href="http://nreionline.com/news/westfield_sells_eight_centers_for_1b_04182012/" target="_blank">made one of the biggest deals of the year</a> in the U.S. mall sector, but <a  href="http://www.bloomberg.com/news/2012-05-01/starwood-s-u-s-mall-deal-a-one-off-purchase-sternlicht-says.html" target="_blank">don&#8217;t look for Starwood to become a major retail landlord</a> any time soon.</p>
<p>In an interview with <i>Bloomberg</i>, Starwood CEO Barry Sternlicht explains the reasons the firm wanted a stake in the Westfield portfolio: some of the <a  href="http://retailtrafficmag.com/management/propmgmt/Rouse_risky_business_03012012/">malls are the dominant properties in their markets</a>, plus Starwood hopes to rework the debt on the assets, given the low interest rate environment. The firm will also try to increase sales at the centers by bringing in more food and entertainment tenants.</p>
<p>But:</p>
<blockquote><p>“We can add additional malls to the portfolio, but this is a one-off,” Sternlicht said in a Bloomberg Television interview from the Milken Institute Global Conference in Beverly Hills, California. “If we don’t buy another one, fine. If we find something good, that is fine too.”</p></blockquote>
<p>He later added that Starwood is happy to stick with properties the major mall REITs no longer want to hold.  </p>
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		<title>P.F. Chang&#8217;s Goes Private</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/p-f-changs-goes-private/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/p-f-changs-goes-private/#comments</comments>
		<pubDate>Tue, 01 May 2012 17:42:28 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[Investment]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Retail Real Estate]]></category>
		<category><![CDATA[Trends]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3896</guid>
		<description><![CDATA[This seems to be a busy week for private equity players. News just came out that fast casual restaurant chain P.F. Chang&#8217;s agreed to be sold to Centerbridge Parnters L.P. for $1.1 billion. The chain, which can be found at many malls, has been reporting declines in shopper traffic and same-store sales recently.
According to Rick [...]]]></description>
			<content:encoded><![CDATA[<p>This seems to be a busy week for private equity players. News just came out that fast casual restaurant chain P.F. Chang&#8217;s agreed to be sold to Centerbridge Parnters L.P. for $1.1 billion. The chain, which can be found at many malls, has been reporting declines in shopper traffic and same-store sales recently.</p>
<p>According to Rick Federico, company chairman and CEO:</p>
<blockquote><p>“We are confident that being a private company will provide us with greater flexibility to focus on our long-term strategic plan of elevating our guest experience, enhancing our value proposition, growing traffic and improving the performance of our brands.”</p></blockquote>
<p>In recent months, restaurants as a group have been one of the bright lights in the retail sector, <a  href="http://retailtrafficmag.com/retailing/expansionplans/restaurants_poised_for_growth_03222012/">expanding at a brisker pace</a> than other retail tenants.</p>
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		<title>Are Small-Format Supermarkets the Next Big Thing?</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/are-small-format-supermarkets-the-next-big-thing/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/are-small-format-supermarkets-the-next-big-thing/#comments</comments>
		<pubDate>Tue, 01 May 2012 17:12:46 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[Management & Leasing]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Retail Real Estate]]></category>
		<category><![CDATA[Trends]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3892</guid>
		<description><![CDATA[We&#8217;ve been hearing for a while that big-box retailers, including Wal-Mart, Target and Best Buy, have been developing small-format concepts to help increase store productivity and make it easier to enter urban markets. But now supermarket operators appear to be following suit.
Our sister publication Supermarket News reports that Price Chopper has just unveiled a 19,000-sq.-ft. [...]]]></description>
			<content:encoded><![CDATA[<p>We&#8217;ve been hearing for a while that big-box retailers, including Wal-Mart, Target and Best Buy, have been <a  href="http://retailtrafficmag.com/retailing/analysis/big_box_giants_downsize_03302011/">developing small-format concepts</a> to help increase store productivity and make it easier to enter urban markets. But now supermarket operators appear to be following suit.</p>
<p>Our sister publication <i>Supermarket News</i> reports that Price Chopper has just <a  href="http://supermarketnews.com/retail-amp-financial/price-chopper-opens-new-limited-concept" target="_blank">unveiled a 19,000-sq.-ft. store at the base of a new residential building</a> in Saratoga Springs, N.Y. Price Chopper stores typically average about 60,0000 sq. ft., but this is an intriguing idea. Imagine shoppers just running downstairs when they need to pick up a grocery staple, instead of having to track at least several blocks to the nearest supermarket. It&#8217;s hard to beat that kind of convenience even if competitors offer lower prices.</p>
<p>It&#8217;s not clear yet if Price Chopper plans to open more such locations. According to Jerry Golub, company president and CEO, Price Chopper felt comfortable testing the idea in Saratoga Springs because it has a long history in the area. The store will carry fresh produce, meat, seafood, deli and bakery products, and will also feature an on-site cafe offering take-out service.</p>
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		<title>Payless Shoe Source Finds a Buyer</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/payless-shoe-source-finds-a-buyer/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/05/01/payless-shoe-source-finds-a-buyer/#comments</comments>
		<pubDate>Tue, 01 May 2012 16:53:40 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[Investment]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Retail]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3887</guid>
		<description><![CDATA[After hitting a rough patch last year, Collective Brands Inc., owner of Payless Shoe Source and Stride Rite stores, has finally found a buyer.
According to the Seattle Times, private equity firms Blum Capital and Golden Gate Capital, in partnership with Hush Puppies owner Wolverine Worldwide Inc., will acquire Collective for about $1.32 billion. The new [...]]]></description>
			<content:encoded><![CDATA[<p>After <a  href="http://blog.retailtrafficmag.com/retail_traffic_court/2011/08/25/payless-stride-rite-to-close-hundreds-of-stores/">hitting a rough patch</a> last year, Collective Brands Inc., owner of Payless Shoe Source and Stride Rite stores, has finally found a buyer.</p>
<p>According to the <i>Seattle Times</i>, private equity firms Blum Capital and Golden Gate Capital, in partnership with Hush Puppies owner Wolverine Worldwide Inc., will <a  href="http://seattletimes.nwsource.com/html/businesstechnology/2018113252_apuscollectivebrandsacquisition.html?syndication=rss" target="_blank">acquire Collective for about $1.32 billion</a>. The new owners plan to split the company&#8217;s retail and brand development divisions into two separate firms.</p>
<blockquote><p>&#8220;Payless is exactly the type of company in which we seek to invest &#8211; a strong brand with unparalleled global scale at an important inflection point in its evolution,&#8221; Josh Olshansky, a Golden Gate managing director, said.</p></blockquote>
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		<title>Wal-Mart Investigates Bribery Charges in Mexico</title>
		<link>http://blog.retailtrafficmag.com/retail_traffic_court/2012/04/23/wal-mart-investigates-bribery-charges-in-mexico/</link>
		<comments>http://blog.retailtrafficmag.com/retail_traffic_court/2012/04/23/wal-mart-investigates-bribery-charges-in-mexico/#comments</comments>
		<pubDate>Mon, 23 Apr 2012 15:46:40 +0000</pubDate>
		<dc:creator>Elaine Misonzhnik</dc:creator>
				<category><![CDATA[International]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Retail Real Estate]]></category>

		<guid isPermaLink="false">http://blog.retailtrafficmag.com/retail_traffic_court/?p=3881</guid>
		<description><![CDATA[Among the obstacles U.S. retailers may face when trying to expand overseas is the fact that business in certain parts of the world is not always conducted in strict adherence with existing laws. The idea of dealing with Russian officials, for example, has scared off many a Western company from expanding into the region in [...]]]></description>
			<content:encoded><![CDATA[<p>Among the obstacles <a  href="http://retailtrafficmag.com/retailing/analysis/great_real_estate_local_partners_key_success_abroad_04102012/">U.S. retailers may face when trying to expand overseas</a> is the fact that business in certain parts of the world is not always conducted in strict adherence with existing laws. The idea of dealing with Russian officials, for example, has scared off many a Western company from expanding into the region in spite of ample opportunities for growth.</p>
<p>To an extent, Mexico carries a similar stigma, and apparently for good reason. Over the weekend, news has emerged that Wal-Mart Stores Inc., one of the largest retailers in the world and a publicly traded U.S. company, is now investigating allegations that its Mexico-based executives might have <a  href="http://online.wsj.com/article/SB10001424052702303978104577360283629622556.html?mod=WSJ_hp_LEFTWhatsNewsCollection" target="_blank">engaged in bribery</a> to help the retailer&#8217;s expansion in the country.</p>
<p>So far, Wal-Mart has not disclosed what the bribes might have been for, but if the U.S. Justice Department finds that the company violated its anti-bribery laws, it could face large fines, not to mention a tarnished reputation both abroad and at home.</p>
<blockquote><p>If prosecutors establish that Wal-Mart violated the law, the size of any fine could amount to millions of dollars, depending on the size of the competitive edge U.S. officials estimated the company gained from any illegal actions, lawyers said, estimating that a government probe could take two to four years. The government could also require Wal-Mart to hire an independent compliance monitor.</p></blockquote>
<p>Here&#8217;s a <a  href="http://www.businessinsider.com/wal-mart-in-mexico-2012-4?utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29" target="_blank">map outlining how rapidly</a> Wal-Mart saturated the Mexican market.</p>
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