Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
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Hello and good day!
This week, Samsung launched its answer to Apple Pay, Carrefour’s sales growth slows down in the second quarter and children’s footwear brand Stride Rite enters a deal with Target. All these stories and more in today’s RetailUpdate. Enjoy the read.

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asia & australasia
Trials begin for Samsung Pay   In South Korea this week, Samsung began rolling out its answer to Apple’s Apple Pay — Samsung Pay. The service is powered by LoopPay, the Boston-based company that the South Korean multinational purchased earlier this year. ▪
NZ dairy giant cuts jobs   In an effort to remain competitive in the global dairy market, Fonterra has cut 523 jobs. Though prudent the move may be, some commentators believe it won’t solve Fonterra’s problems. ▪
Metcash appoints former Coles exec    Coles executive Steven Cain has been appointed as head of Metcash’s supermarket division. Mr Cain will oversee the struggling grocery wholesaler’s ISA brand, which is under pressure from Coles, Woolworths and Aldi. ▪
europe
UK supermarkets warned over fake price promotions   Some UK food retailers could find themselves in hot water after a three-month study by the Competition and Markets Authority (CMA) found evidence of potentially confusing and misleading pricing and promotional practices among supermarkets. The CAA does, however, say misleading pricing practices are not widespread. ▪
Carrefour sales slow in second quarter   Due to weakness in China, France’s largest retailer has reported a slowdown in quarterly sales growth. Second-quarter growth rose 4.2% compared with first-quarter growth of 6.2%. Despite the slowdown, Carrefour still managed to beat analysts’ expectations. ▪
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Bonuses for Sports Direct workers   Thanks to a 21% rise in profit, employees of Britain’s largest sporting goods retailer will receive bonuses valued at about GBP 37 million.  This comes after recent criticism for its use of zero-hour contracts. ▪
usa
New COO for Dollar Tree   The American discount chain has promoted one of its senior executives to chief operating officer. Michael Witynski will be responsible for store operations and real estate of Dollar Tree bannered stores in the US and Canada. ▪
Stride Rite enters deal with Target   The children’s footwear brand is launching Surprize by Stride Rite, which will be exclusive to Target stores. Stride Rite is also updating its own stores in order to appeal to more contemporary shoppers. ▪
A&P may file Chapter 11  As early as this week, The Great Atlantic & Pacific Tea Co. (A&P) may file for Chapter 11 bancruptcy. The grocery chain has about 110  locations - mostly in the New York City area.  ▪


 

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