Despite a reported slowing market, Apple has enjoyed strong sales in China. In the UK, luxury department store Harrods cuts dividend payments. And leading up to the holidays in the US, Walmart vows they won’t be beaten on price. All these stories and more feature in today’s RetailUpdate. Enjoy the read, and don’t forget to share with your friends and colleagues.
Increased sales for I.T. Limited Despite a slowdown in Hong Kong, the apparel company has increased sales by 5.1%. Gross profit grew by 1.4 % at a gross profit margin of 59.7 %. This is down slightly on last year’s 61.9 %.
Strong growth for Delhaize For the third quarter of the year, the Belgium-based food retailer has reported strong growth. In its core US and Belgium markets, revenue increased 2.3% and comparable store sales increased by 1.7%. Meanwhile, “good progress” is being made on integrating Delhaize Group and Ahold. The merger should be complete by mid-2016.
Harrods cuts dividends In the wake of a recent slump in turnover, the luxury department store has cut dividend payments to its Qatari owner. The dividend paid was GBP 103 million, down from GBP 150 million paid last year +++ According to a business survey, UK retail sales have slowed down rapidly over the past few weeks.
First US supermarket celebrates 100 years The 100th birthday of the first ever supermarket in the US was an occasion for Lebensmittel Zeitung to devote a special feature to this resilient store format. Trade experts and consumers from around the world talk about their favourite supermarket. German Retail Blog reports.
Drivers take Amazon to court Prime Now delivery drivers are taking the e-commerce behemoth to court. The dispute is over unpaid overtime, fuel expenses and workers’ compensation due to drivers being incorrectly classified as contractors. Meanwhile, in its quest to integrate online shopping and product placement, Amazon has made available e-commerce functionality (pay wall) on its Fire TV devices.
Meijer trials LEDs The US supermarket chain is trying out new store lighting. Meijer’s revamped store in Beavercreek, Ohio will feature 100% LED lighting. The move is expected to save over half a million kilowatt hours of electricity every year.
developments to watch
Label sugar content in teaspoons Some fizzy drinks contain up to 14 teaspoons of sugar! That can’t be healthy. So, how can we make it easier for consumers to know how much sugar is in a soft drink? Celebrity chef Jamie Oliver has an idea. He wants soft drink labels to show sugar content in teaspoons.