Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

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Several changes at the top level have captured our attention today. Best Buy, Target and Ebay are announcing new leadership roles, while Snapdeal, Morrisons and P&G have to say good bye to some bosses. Read about these management developments, exclusive marketing deals and a lot more.

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asia & australia
Green light for Aldi and Yonghui in Australia   In the state of Victoria, the government’s introduction of reformed commercial zones has cleared the way for Aldi's expansion +++ An agreement has been reached to strengthen ties between Tasmania and China with supermarket chain Yonghui to bolster imports over the coming years. ▪
Snapdeal boss steps down   Aakash Moondhra, chief financial officer of the Indian online market place, has quit the company and could be starting his own venture or going back to investing. ▪
Reliance to launch online mall   Major Indian retailers are moving to catch up in the country's growing online shopping market. Mumbai-based Reliance Group is thinking about setting up an online shopping mall. ▪
europe
Tesco faces impairment charge   Britain's biggest retailer is set to reveal major writedowns as it battles fall in sales and profit. The supermarket group is facing a GBP 3 billion impairment charge on its property in annual results later this month, the biggest seen in the industry to date. ▪
Morrisons loses another exec   Group trading director Casper Meijer has left the business with immediate effect. The sudden departure is the latest management change at the loss-making business since David Potts took the helm last month. ▪
usa & canada
Ebay builds top team   The e-commerce company has appointed three new executives to join CEO Devin Wenig’s leadership team as the company prepares for the separation of Paypal and Ebay into independant companies. Paypal could face a lawsuit for practices of its Paypal Credit same-day loan provider unit. ▪
Leadership reshuffles   Electronics retailer Best Buy says Chairman Hatim Tyabji will retire and President and CEO Hubert Joly will become its chairman +++ Target has named grocery and consumer packaged goods veteran Anne Dament to the role of senior Vice President +++ P&G Chief Executive A.G. Lafley (paywall) is said to step down soon and hand the top job to an internal successor. ▪
Coborn's acquires Marketplace Foods   Supermarket chain Coborn's is expanding in Wisconsin, purchasing Marketplace Foods, owner of grocery and liqour stores. Coborn's operates 52 stores under the banners Coborn's, Cash Wise Foods and Save-A-Lot. ▪
developments to watch
Pepsi signs exclusive marketing deal   The National Basketball Association is trading Coke for Pepsi. The league struck a new marketing partnership with Pepsico, ending a 28-year partnership with Coca-Cola. ▪
Walton family sells Walmart stakes   Walton Enterprises, the corporation which holds Walmart stock for the Walton family, plans to sell off some of its ownership stake in the discount giant. ▪
A fast growing retail segment   British consumers are set to spend GBP 53.6 billion a year using their smartphones and tablets by 2024, compared with GBP 9.7 billion spent today, according to new research by Barclays. ▪

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