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

Greetings!
While German fashion e-tailer Zalando celebrates its growth, software giant SAP has posted mixed quarterly results and Yahoo confirms a loss. Over in India, Snapdeal plans to expand its engineering team to more than 2,000 and in Britain, Coop is hiring 1,000 more staff. An interesting new research project to reduce sugar is about to start in the UK. Enjoy your news update.

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asia
Japanese developments   As predicted yesterday, Toshiba boss Hisao Tanaka and other top execs have left the company over one of the largest accounting scandals +++ Clothing retailer Uniqlo has closed its virtual store on China's second-biggest online retailer, JD.com +++ Japan's convenience store market exceeded the 10 trillion yen (US$ 79.7 billion) mark for the first time ever. ▪
Alibaba assures supplier reliability   The Chinese e-commerce platform is upgrading its trade assurance programme to give small-to-mid-sized businesses peace of mind when buying from overseas suppliers. ▪
Snapdeal invests in staff   The Indian online marketplace company plans to more than double its engineering team to over 2,000 in order to leverage big data, mobile services, analytics, cloud infrastructure and web technology. To help offline sellers (Paywall) with working capital needs, Snapdeal has partnered with Tata Capital. ▪
europe
Acquisition plans and achievements   French food group Bonduelle is reportedly in discussions to team up with Centerview Partners in a bid to buy General Mills' Green Giant frozen and canned vegetable business. Over in Switzerland, Tyco Retail Solutions has acquired UK-based technology provider Footfall for GBP 560 million in cash. Meanwhile, the GBP 4.3 billion takeover of beverage can manufacturer Rexam by US rival Ball Corporation will be examined in depth by the European Commission. ▪
Zalando and SAP report results   Berlin-based fashion e-tailer Zalando recorded a sales boost of between 33 and 35% in the three months to the end of June, but expects a fall in profits  +++ German software powerhouse SAP reports mixed quarterly results and modest profits. ▪
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Co-op wants to be on top   British convenience store operator Co-operative Food is hiring 1,000 more staff as it tries to gain ground in the tough grocery market and achieve its aim of being the UK’s leading convenience retailer. ▪
Aldi succeeds in Ireland  The German discounter has received the green light to extend its retail operations in the country, despite opposition from farmers. In another matter, a High Court judge has ruled that Aldi is entitled to an injunction prohibiting rival Dunnes Stores from referencing the discounter in its advertising. ▪
 usa
Albertsons files lawsuit   The US Supermarket giant has filed a lawsuit against Haggen, accusing the grocer of fraud in failing to pay more than US$ 36 million as part of the sale of 146 grocery stores. Meanwhile, United Natural Foods announced it will terminate its contract as a distributor with Albertsons in September, ahead of schedule. ▪
Brick-and-mortar ambitions   Rizzoli bookstore will open its new flagship bookstore on July 27 in New York in the historic St. James Building +++ Specialty footwear retailer Bucketfeet, which entered the world of brick-and-mortar in 2013, is partnering with store analytics provider RetailNext to better understand its shoppers. ▪
Yahoo misses expectations   The search engine company has confirmed it has swung to a loss in the second quarter but that revenues grew as the internet pioneer refocused its efforts on mobile and other growing sectors.  ▪
research projects
Major sugar study under way   A multi-million pound research project to make diets healthier has been announced in Britain. Backed by a consortium of 14 leading food and drink companies, including Coca Cola, Mondelez, Sainsbury’s and Unilever, the project looks at new scientific methods to reduce sugar. ▪
Facebook gains marketing importance   Social media has moved up the ranks to become an important tool for engaging with and attracting new customers according to the State of Retailing Online 2015 report. ▪

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