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

Hello, subscribers!
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.

ADVERTISEMENT
 

asia
Apple and Baidu still profiting in China   Despite reports of a slowdown in China’s economy, Chinese web services company Baidu has posted better-than-expected third-quarter earnings.  Apple, too, has reported big sales. Some commentators, however, believe Apple’s over-reliance on China is impeding its progress ▪
New social app for Myntra   Next month, the Flipkart-owned online fashion retailer will release a new app: Myntra V2. The app will give mobile device users a shopping-mall experience. Meanwhile, arch rival Amazon has caught up with Flipkart on the web. They are still behind in the mobile-app space, however. ▪
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 %. ▪
europe
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. ▪
usa
Walmart up for the challenge   The retail giant says it won’t be beaten on price this holiday season. However, despite pressure from competition, they are sticking to their $50 minimum order value for free shipping. In contrast, Target is bringing back free shipping (paywall) for all online orders. ▪
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. ▪
Switching from meat to veg   For grocery stores, meat has traditionally been where the money is. However, as the trend for healthy eating grows, vegetables and fruit are taking the lead. ▪
Supermarkets wasting less   The amount of waste incurred by British supermarkets in 2014 was 180,000 tonnes, down from 200,000 tonnes in 2013, according to a new British Retail Consortium (BRC) report. ▪

If this newsletter was forwarded to you, subscribe here!
For questions or comments please contact us here

To advertise in Retail Update click here

RetailUpdate is a product delivered to you by lebensmittelzeitung.net

ImprintArchive