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Retail Update - powered by LebensmittelZeitung

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Chinese mobile phone maker Coolpad is poised to launch its first Indian-made smartphone, Retail sales in the UK have declined since September and Ebay dispels five common myths about online fraud. All these stories and more feature in today’s edition. RetailUpdate is still free, so if you enjoy it please share. Have a great day.

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asia & New Zealand
Coolpad to debut Indian-made smartphone   In collaboration with Videocon, the Chinese mobile phone maker will debut its Indian-made smartphones next year. The phones will be released in the first quarter, and Coolpad may also set up its own Indian facility +++ Meanwhile, Apple has listed job vacancies, confirming that they will open their first Singapore store in 2016. ▪
Kathmandu reaffirms profit guidance   With strong same-store sales growth, particularly in Australia, the New Zealand-based outdoor clothing retailer has reaffirmed its NZ$ 30.2 million full-year profit guidance. Meanwhile, Kathmandu’s board has apologised for CEO remuneration failure (paywall). ▪
Perfect Shape plans Chinese growth   As demand grows, the slimming and beauty services chain is planning more stores in greater China. The group’s revenue was up 41% in the six months to September. ▪
europe
Profits slip for Poundland   According to interim H1 results, the UK retail group has seen its like-for-like sales drop 2.8%. Their underlying EBITDA dropped 18.5% and underlying pre-tax profits fell 26.3%. Read what the analysts say (paywall). ▪
Amazon Prime comes to Newcastle   The e-tail behemoth has announced it will be offering its one-hour service, Prime Now, in Newcastle and the North East. This is now the third Prime Now location, having launched the service in London and Birmingham earlier in the year. ▪
UK retail sales fall   After a spending spree in September, it appears consumers have taken a breather from shopping; according to the Office for National Statistics, sales volumes since September have dropped 0.6%. ▪
usa
Third-quarter results   On Thursday, Best Buys shares dropped 5% after reporting disappointing quarterly revenue of US$ 8.82 billion +++ Though digital sales were slow, Target is optimistic as net sales increased  by US$ 17.6 billion +++ GAP CEO, Art Peck is expecting better times ahead as total sales dropped to US$ 3.86 billion. ▪
The final bell tolls for Straus Clothing   After 135 years, the North Dakota menswear store is calling it a day. On Thursday, hundreds of loyal customers braved high winds and icy roads to participate in the first day of the retailer’s final sale. ▪
Bristol Farms prioritises food safety   In order to make food safety a priority, the 13-store specialty grocery chain has chosen technology from ReposiTrak Inc. to manage regulatory and business documentation compliance within its supply chain. ▪
survey results
Asians prefer Christmas shopping online   According to a survey from internet services company Rakuten, almost half of Asian shoppers plan to do their Christmas shopping online this year. 83% like the convenience, 55% like the ease of comparing products and 41 % enjoy the rebates and loyalty programmes. ▪
Black Friday & Cyber Monday still cool   A study on the shopping habits of almost 7,000 millennials over the holidays has found that 93% intend to shop on Black Friday and Cyber Monday this year. The survey found that 53% of purchases are influenced by word of mouth, 72% by online reviews and 58% by social media. ▪
Beware of fraud myths   Ebay’s Technology Fraud Lab has released a list of five online fraud myths. The myths include it’s too risky to sell digital gift cards, manual review can be replaced by machines and domestic orders are safer than international orders. ▪

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