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

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China's slowdown has hit luxury brands such as Louis Vuitton, Burberry and Hugo Boss. Europe's hot summer and booming ice cream sales helped consumer goods giant Unilever boosts its revenue. Over in the US, Walmart is under pressure to gain momentum. Get inspired by today's collection of retail news and spread the word if you enjoy the read. 


asia & new Zealand
Luxury goods take a dive   The sales slowdown in China and Hongkong made British label Burburry to miss expectations. Also hit by weak sales in China was German fashion company Hugo Boss (paywall) as well as the premium-priced Louis Vuitton brand, however, its parent company, LVMH, has had a good year. ▪
Target markets Sri Lanka and Cambodia   Indonesian multi-brand retailer Mitra Adiperkasa is planning a foray into Sri Lanka, attracted by the opening economy and a growing middle class. Meanwhile, US-based ice cream parlour chain Cold Stone Creamery is set to open 13 outlets in Cambodia, with the first location opening soon in Phnom Penh. ▪
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Diwali e-sales competition   The e-commerce war on festive sales intensifies. Smartphone giants such as Samsung, Apple and Google are set to engage in a battle royale with their latest models. Big winners of the festive season so far are price comparison sites with a 40-50% increase in traffic.  ▪
Kiwis approve China deal  Shareholders in New Zealand largest meat processing company, Silver Fern Farms, have agreed to a joint venture with Chinese food giant Shanghai Maling, which is to take a 50% stake. ▪
 europe
Argos teams up with Ebay   The British general merchandise retailer and the e-commerce giant have announced that they have signed a multi-year partnership that will allow Ebay’s sellers to drop-off products at stores nationwide for delivery. The service will start with 150 stores before the end of 2015. ▪
Ice cream helps Unilever grow   The third-quarter revenue of the Anglo-Dutch consumer goods giant increased sharply as sales of ice cream jumped during Europe's hottest summer. Just recently, the company has opened its first ice cream manufacturing site in Johannesburg. Meanwhile, Hindustan Unilever, India’s largest FMCG, has reported disappointing profits for its second quarter.  ▪
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Selling sites and closing networks   While Tesco has agreed to sell off 14 development sites for GBP 250 million to Meyer Bergman as part of its recovering strategy, competitor Sainsbury announced that it is closing down its mobile phone service, provided by Vodafone. ▪
usa & Canada
Couche-Tard buys Texas Star   Quebec-based convenience-store operator Couche-Tard has announced the acquisition of the Texas Star brand, which operates 18 convenience stores. The sudden resignation notice of its CFO Raymond Paré, however, caught investors by surprise. ▪
Walmart under pressure   In a bid to claim sales momentum and improve customer service experience, the US retail giant unveiled a remodeled supercentre in Arkansas. The company plans to offer free online grocery shopping in Tampa and other Florida cities in order to become more competitive in the web-driven business. ▪
Crunch time for daily deals   People are complaining of “daily deal fatigue” and Livingsocial, the Washington-based local deals platform part-owned by Amazon, is laying off 200 people to reorganise its operations. Last month, its big rival Groupon announced 1,100 layoffs.  ▪
africa
Uchumi cuts jobs   Kenya-based supermarket operator Uchumi has closed down its loss-making Tanzanian and Ugandan businesses and sent home 900 staff. The company hopes the closures will help stabilise its Kenyan operations. ▪
Shoprite under scrutiny   South African-based retail company Shoprite is under investigation by the National Credit Regulator for breaches of the National Credit Act. The company is accused of reckless lending and faces fines. ▪
Improving internet security   Data security specialist Cryptosoft announced a partnership with the International Telecommunications Union, a UN-agency, to establish increased global Internet security standards in developing countries. ▪

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