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

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Stepping outside your comfort zone is the challenge in this day and age. Korean cosmetic giant Amorepacific has set its sight on the Middle East. European and Chinese companies see a lot of potential in India. German discounter Lidl, which continues to grow worldwide, aims to shake off its budget image, while US retailer Barnes & Noble fights for survival. Enjoy the read.

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asia & australia
Woolies believes in Masters   The supermarket operator and its home improvement partner, Lowe's, have pumped another AU$ 90 million into the loss-making Masters business, despite being urged to pull the plug +++ Rival Coles is facing some headwinds as Australian authorities are concerned over the company's proposed acquisition of nine Supabarn stores. ▪
Cosmetic growth beyond Asia   Korean cosmetics maker Amorepacific plans to expand into new regions like the Middle East and Latin America. Analysts are concerned that the company might face an uphill battle in developed markets.   ▪
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Alibaba shrugs off slowdown    The Chinese e-commerce giant has denied its sales volume growth has slowed into single digits because of China's faltering economy. Nevertheless, Tencent has overtaken Alibaba as Asia's largest internet company. Meanwhile, a number of Chinese mobile companies are expanding rapidly into India, investing millions in the country. ▪
europe
Lidl goes upmarket   The German discounter is reportedly planning to move into central London as part of a plan to shake off its discount image. The company is looking for almost 300 new locations for small- to medium-sized supermarkets. Fittingly, forty additional French wines have been temporarily added to Lidl UK’s wine portfolio. ▪
Swedish icons to enter India   Furniture giant Ikea is reportedly exploring different locations in India and contemplating setting up its first store in the country soon. Investing in emerging markets is high on its agenda as full-year sales rose 11%, led by China and Russia +++ Fast fashion chain H&M will open its first Indian store in October in Dehli. It will be the 60th international market for the company. ▪
Store closures and openings   British retailer Morrisons plans to close 11 supermarkets, putting about 900 jobs at risk after pre-tax profits fell by almost half from GBP 239 million to GBP 126 million+++ Polish retail chain Delikatesy Centrum, owned by Eurocash, is set to open 100 new outlets this year, after having opened already 20 new stores . ▪
usa & canada
Barnes & Noble struggles   America's largest retail bookseller reported another net loss, but its CEO remains positive and sees a lot of potential in a new store prototype. However, analysts think that the company's recent performance is scarier than a Stephen King novel and wonder whether the company can survive. ▪
Hudson's returns to profit   The Canadian retailer saw sales climb by double digits across all banners in the last three months, after it completed joint ventures with two major real estate companies and acquired German department store chain Galeria Kaufhof  during the 'transformative' quarter ▪
Lululemon feels the heat   High air freight costs, increased markdowns, and store renovations stretched the profit of the Canadian yogawear retailer, which will open its first Middle Eastern store in Dubai (paywall) this month. Meanwhile, Levi Strauss & Co is launching a new women’s range with more stretch to compete with yoga pants. ▪
payment prospects
Google rolls out mobile payment   Apple Pay has a new rival. In its second take on mobile payments, Google is officially releasing its Android Pay digital payment solution in the US. ▪
Making shopping easy   Sam's Club agreed to accept American Express cards at its more than 650 locations +++ Kmart expanded its layaway programme, allowing customers to make no-down-payment layaway purchases for holiday items, and online marketplace Ebay (paywall) announced a revamp of its apps to simplify selling. ▪

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