Hello and good day!
Tesco boss Dave Lewis meets with shareholders today for the first time. Although he's already made substantial progress in giving the business new directions, sales seem to be still falling. In the meantime, competitor Sainsbury's fuels the price war, while over in Germany, Aldi offers customers free charge points for electric cars outside its stores in Düsseldorf. Enjoy the read and have a great weekend.
Asia, south pacific & middle east
Investment plans for Dubai and India Consumer foods giant Nestlé is planning to open a new US$ 120 million factory in Dubai. The new plant will produce coffee and culinary products +++ Over in India, Chinese electronics major Lenovo is looking at the possibility of setting up a manufacturing unit in the country.
7-Eleven Malaysia rejuvenates The retailer, which runs 1,840 stores nationwide, will invest US$ 24 million in opening 200 stores, refreshing a further 200, and is looking to rejuvenate its offer. The Malaysian market leader also announced that it is closing a deal with a courier service provider.
DIY is dead, long live DIY The Global DIY Summit in London welcomed 750 delegates from 45 countries and provided an authoritative statement on the current state of repair in the global home-improvement sector and the daunting challenges laying ahead. German Retail Blog reports.
Sainsbury's fuels price war The British retailer has cut the price of milk to match those of discounters Aldi and Lidl, in a further sign of an intensifying supermarket price war. Meanwhile, the company's chief financial officer John Rogers (paywall) has taken on added responsibility as Helen Buck, responsible for business development, steps down.
usa & canada
Executive shake ups The transformation of Target under the leadership of new CEO, Brian Cornell, continues with the departure of executive VP Kathryn A. Tesija +++ Sandwich chain Subway has named Suzanne Greco president of the company +++ Dollar General has appointed John W. Garratt interim CFO. He succeeds David Tehle.
Nike exceeds estimates Net income of the world’s largest sporting-goods maker, Nike, rose 24% to US$ 865 million. The company released new products and won market share from its athletic-gear rivals +++ Canadian yoga-wear retailer Lululemon Athletica faces another recall, this time involving women’s hoodies.
Understanding convenience shoppers Research and consulting company Him International has released an infographic comparing convenience shopper insight across key markets in Europe. The findings come from interviews with 10,000 shoppers across the world.