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From Times Staff and Wire Reports
Wal-Mart to Buy 14 Pace Warehouses: Kmart Corp.’s Pace Membership Warehouse Inc. has agreed to sell 14 of its stores to Wal-Mart’s Sam’s Club division. Terms of the deal were not disclosed. The companies said the sale involves Pace stores in Texas and the Midwest. Wal-Mart, the nation’s largest retailer, has faced growing competition from other discounters such as Dayton Hudson Corp.’s Target, Pace and Venture Stores Inc., both in its general merchandise stores and its Sam’s Clubs.
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