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

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Times are challenging for the world's largest retailer. As expected, Walmart's earnings disappointed investors and Wall Street. Walmart's UK chain Asda has no good news either, revealing its worst results for decades. Read about profits, losses, forecasts, expansion strategies and a lot more in today's issue. 

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Asia & australia
Aldi keeps pressure on Coles and Woolworths   The German discounter has launched four new trial stores in Australia,  sparking speculation it aims to lure higher income shoppers away from traditional supermarkets. Coles has announced that targeting more online shoppers is a key part of its growth plan and Woolworths is reviewing its private label grocery strategy. ▪
American Eagle lands in South East Asia   The teen apparel retailer continues its global expansion with new license agreements in South Korea, Singapore and Greece. The company plans to open 40 stores in 2015 and is expected to maintain its consistent performance when reporting its Q1 earnings today. ▪
Dutch lingerie company enters India   Indian conglomerate Reliance Brands has signed a long-term franchise agreement with 130-year-old Dutch lingerie maker Hunkemöller International and will be setting up independent standalone stores for Hunkemöller across major Indian cities. ▪
europe & middle east
Openings in Oman and Qatar   FNAC, a leading international retailer headquartered in France, has opened its first store at Doha's Lagoona Mall in Qatar +++ Abu-Dhabi-based hypermarket chain Lulu Group is planning to open five more hypermarkets in Oman. ▪
Asda reveals results   The Walmart-owned chain and UK’s second largest grocer has revealed a 3.9% fall in like-for-like sales in the 15 weeks to 19 April. The last time Asda performed so badly was back in the 1990s. ▪
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Unilever has a new finance boss   Graeme Pitkethly is to succeed Jean-Marc Huët as chief financial officer of Unilever later this year. Pitkethly joined the consumer goods company in 2002 and is currently executive vice president of Unilever UK and Ireland. ▪
E-commerce giants compete  Ebay takes on Amazon Prime in Germany. The e-commerce company reportedly plans to launch a programme that will compete with the Amazon Prime expedited shipping service and appears to focus on sellers rather than buyers. ▪
 usa & canada
Walmart disappoints and Home Depot thrives    While Walmart’s profit and total sales missed Wall Street estimates, Home Depot posted a strong sales growth. The world's largest home improvement retailer reported that sales rose 6.1% to US$ 20.89 billion. ▪
More results   Etsy, the online marketplace for handmade products, has released its first-ever earnings report, which shows growth in both net loss and revenue +++ Dick’s Sporting Goods reports a net income of US$ 63.34 million in the first quarter of fiscal 2015.  ▪
Smart solutions and delivery offers    Target plans to roll out RFID-enabled “smart labels” later this year to aid inventory accuracy and improve in-store stock levels +++ Grocery delivery company Instacart has launched in Miami, where shoppers can order from Whole Foods, Costco and more retailers. Everything will be delivered in as little as one hour.  ▪
digital developments
Google teams up with Twitter   The two Internet giants announced a partnership to display tweets in search results, renewing a tie-up that ended in 2011. The move will allow Google to get more real-time results in its search queries, and help Twitter boost engagement after a period of sluggish user growth. ▪
Visa Checkout adds more partners   Dunkin’ Donuts, Fandango, Sundance Catalog and Williams-Sonoma will now offer Visa's online checkout service,Visa Checkout. The financial services company is also kicking off several new co-marketing and advertising campaigns.   ▪

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