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

Greetings!
Yudala, Nigeria's first ever online and retail chain, hit the headlines again with a promise from its vice president to create 150,000 jobs in the country. Over in India, the debacle around Maggi noodles had a debilitating impact on Nestlé's results and in the US, department store operator Saks revealed some exciting new store ideas.

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asia
Luxury comes back to Japan   Global luxury brands are re-establishing their presence in the country with the number of fashion-house stores opening in Tokyo reaching a historic high. This is attributed to falling demand in China last year. ▪
7-Eleven invades Vietnam   The convenience store company is taking its business to Vietnam and has signed a master franchise agreement with Seven System Vietnam. Meanwhile, in the Philippines, the company's master franchise is aiming to grow its nationwide store network (paywall) by 25% a year and expects to hit 2,000 stores in 2016.   ▪
Challenging times in India   Nestlé India has reported its first quarterly loss in over three decades, as the full impact of the Maggi recall becomes evident +++ New Dehli-based online retailer Paytm plans to hire 1,900 people in product engineering as it gets ready for the next step of its expansion +++ Mumbai-based conglomerate Tata Group is set to move into e-commerce, which will be a marketplace modelled on the likes of Amazon and Flipkart  ▪
europe
Casino restructures in Latin America   The French retail group has sold its Latin American business to its Colombian supermarket chain, Exito, in a EUR 1.7 billion deal (paywall) as it looks to simplify its holdings in the region. The announcement came as it reported weak sales growth for the first half of the financial year. ▪
Delhaize enjoys solid revenue    The Belgian half of the forthcoming Ahold-Delhaize merger has reported solid revenue and profit growth in the second quarter. In the US, its most important market in terms of sales, revenues grew by 3.2% in local currency. ▪
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Openings and closings   While British retailer Marks & Spencer is closing nine stores because they are considered unfit for the future, Swedish fast fashion giant H&M is expanding its higher-end store banner COS in the US and eyes growth for other brands (paywall). ▪
usa & canada
Coke bottlers to team up   Three bottlers of Coca-Cola are in advanced talks for a merger that would further a push by the US soft drink giant to lower costs. Coca-Cola Enterprises, which just reported second-quarter net income of US$ 176 million, is discussing a tie-up with Coca-Cola Iberian Partners and Germany's Coca-Cola Erfrischungsgetränke AG.  ▪
Saks Fifth Avenue launches shoe store    The department store company is going to open a freestanding store dedicated to the hot category of shoes in Connecticut in 2016. Next year is also marked for its expansion to Toronto, hence the company plans to hire 365 people over the next six months. ▪
Reshuffles at top level   Supermarket operator Kroger announced that its first female corporate officer, Lynn Marmer, plans to retire in early 2016 +++ Restaurant chain TGI Fridays is looking for a new chief executive as it announced that Nick Shepherd is stepping down as president and CEO. ▪
africa
Retail revolution in Nigeria    Following the launch of Yudala Experience Stores in Lagos last week, its Vice President, Stanley Uzoechina, has promised to bring retail revolution to Nigerians and also to create an additional 150,000 jobs in the next two years. Industry insiders call the opening of Yudala a milestone in retail marketing in the country. ▪
High hopes in new Edcon CEO    Africa's largest non-food retailer, Edcon, has named Bernard Brookes as its new CEO as the debt-burdened company tries to restructure its organisation. The former Myer CEO starts his new job in September. ▪

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