NEWS IN BRIEF

Saturday, June 15, 2013

Wal-Mart de Mexico to sell eatery chains

Wal-Mart de Mexico, the Mexican subsidiary of retail giant Wal-Mart, said Friday it had put its Vips restaurant business up for sale. The deal also includes chains El Porton, Ragazzi and La Finca.

Some potential buyers have been looking at the chain of eateries, and Wal-Mart de Mexico may be close to a sale, the retailer hinted in a regulatory filing. The company said it had “started a competitive process to consider potential third-party offers” for Vips.

“This process is in its early stages and there can be no guarantee that a sale will take place or other terms and conditions of a potential transaction,” the filing said. By the end of 2012, Vips accounted for 1.7 percent of consolidated sales of Wal-Mart de Mexico and 1.6 percent of its earnings before interest, taxes, depreciation and amortization.

The restaurant group is mostly made up of the 265-strong Vips chain, which sells Mexican breakfasts and dinners as well as hot cakes and cheeseburgers in a format similar to a U.S. diner. The chains serve about 79 million customers annually and employ nearly 18,000 people.

Public meeting set for Branson remodel

A meeting summarizing public comments so far on plans to renovate Branson’s Historic Downtown District will be held June 27.

This is the second public information meeting on the project and will include a summary of the meeting held in late April. The public is encouraged to attend and offer feedback on the plan.

The Crawford Murphy & Tilley design team will host the meeting from noon to 2 p.m. at the downtown street scape design studio at 210 S. Commercial St. in Branson.

The $5 million downtown revitalization plan is expected to be phased in over five years. The goal is to maintain the downtown’s atmosphere while refurbishing the area by improving sidewalks, parking and signs, and reducing traffic congestion. The city also hopes to repair water and sewer lines during the project.

Arkansas Index falls 3.46 to 275.68 Friday

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 3.46 to 275.68 on Friday.

First Federal Bancshares of Arkansas Inc. shares fell 2 percent to finish at $9.55.

America’s Car-Mart Inc. shares decreased 2.9 percent to close at $42. P.A.M.

Transportation Services Inc. fell 2.01 percent to finish at $10.74.

Windstream Corp. shares rose 1.3 percent to close at $8.31.

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

Business, Pages 27 on 06/15/2013