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Russia, Australia and Vietnam are preferred destinations for two iconic European retailers, while Amazon invests heavily in India. Sainsbury's experiments in the UK, Waitrose reveals food trends and toymaker Lego is in for a challenge this Christmas. Enjoy these stories and don't forget to share them with your friends and coworkers. RetailUpdate subscription is FREE.
asia & australia
Westland reviews structure New Zealand's second biggest dairy cooperative is in a sound financial position despite a difficult season. The Hokitika-based company is reviewing its capital structure after profit soared on cheaper milk prices and increased sales of its value-add products.
Ahold teams up with startup The Dutch retail giant has announced a partnership with startup accelerator Startupbootcamp. The deal will see Ahold support young firms that have been selected in the latter's e-commerce programme and might offer the retailer early access at online trends and innovations.
Sainsbury's trials new concepts The British retailer is testing a “microstore” for shoppers in a hurry that could enable it to open small outlets in more than 1,000 locations. In its new strategy, Sainsbury's experiments with different supermarket layouts and an increased range of checkout options to respond to changing shopping trends.
usa & canada
Walmart and Ifco strengthen forces The US retail powerhouse and the leading provider of reusable packing solutions are to expand their partnership. Ifco will provide Walmart with a new generation of Wood Grain Reusable Plastic Containers (RPCs) for wet and dry produce. The new 'wood look' is part of several improvements Walmart is making in the produce department.
Department stores under pressure JC Penney will cut 300 jobs at its headquarters in Texas as part of its initiative to revamp the stores, image and sales. Meanwhile, Lord & Taylor, one of the nation’s oldest department stores, plans to start an off-price chain for its namesake brand, and men's clothing retailer JoS.A.Banks is ending a popular pricing promotion.
Westfield hires tech talent The multinational shopping centre developing company, founded in Australia with a large presence in the US, has named Raghav Lal as its new chief data and analytics officer to develop the company’s data strategy.
developments to watch
Lego in short supply The Danish toymaker has predicted a holiday shortage. With the new Star Wars film fast approaching, demand is exceeding supply. Lego’s first-half revenue was up by nearly 20%, while profit jumped by more than 30% versus a year ago.