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June 2, 2020

Alcanna enters definitive stock purchase agreement with Afognak

North American private alcohol retailer Alcanna has reached a definitive stock purchase agreement with a subsidiary of Afognak Native Corporation.

North American private alcohol retailer Alcanna has reached a definitive stock purchase agreement with a subsidiary of Afognak Native Corporation.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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Under the agreement, Alcanna divested the shares of its indirect wholly-owned subsidiary Liquor Stores USA North. It owns and operates the Brown Jug banner of 21 retail liquor stores and one distribution centre.

Cash proceeds from the deal are expected to be around C$29.1m ($21.4m), used by Alcanna to lower debt, invest in its Canadian liquor and cannabis retail businesses.

Alcanna vice chair and CEO James Burns said: “Brown Jug has been a steady business for Alcanna for many years but we believe it requires significant capital expenditures to maintain its market position.

“These capital investments could exceed the cash the Alaska Operations generates over the next several years.

Alcanna believes that capital would be better allocated to growth opportunities here in Canada such as expanding our Wine and Beyond banner into British Columbia, filling in the few remaining trade area gaps for Wine and Beyond in Alberta, expanding Nova Cannabis into Ontario, and being prepared for other provinces, such as Ontario, to possibly open liquor retail to private sector participants are better allocations of capital for our shareholders.”

Afognak and its subsidiaries employ a workforce of more than 4,000 in nearly all 50 states of America and other nations across the globe.

Alcanna operates 231 locations in Alberta and British Columbia. It has 31 cannabis retail stores in Alberta and Ontario.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.