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

Hello, dear reader!
Sales are up for international giants Ikea, Zara, Hudson's Bay and online retailer Ocado. The Australian boss of South Africa's Edcon is set to bring back the sparkle to the ailing fashion retailer. Meanwhile, Esprit is about to re-enter the Canadian market and dairy product Kerrygold gets packed in Nigeria. Enjoy your Friday read and have a peaceful weekend.

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asia & Australia
Woolies and Apple in the spotlight   The Australian consumer watchdog has started legal action against supermarket operator Woolworths, accusing the company to have sought AU$ 60.2 million in payments from some suppliers. Over in South Korea, the antitrust watchdog is checking possible unfair provisions in contracts signed between Apple Korea and local electronic repair companies. ▪
KFC expands to Tibet   The American fast-food chain will open the first KFC restaurant in the Tibetan capital, Lhasa, in early 2016. The move comes as parent company Yum Brands prepares to spin off its business in China. ▪
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Chinese consumers optimistic   More than 60% of Chinese consumers are optimistic about economic prospects next year and said that they are willing to spend more according to a survey by brokerage and investment group CLSA. ▪
europe
Building billion profits   Swedish furniture retailer Ikea is refocussing its growth strategy while posting a 5.5% increase in net profit to EUR 3.5 billion. Meanwhile, Spanish global clothing giant Inditex, owner of the Zara brand, reports a 20% surge of its net profits to EUR 2 billion during the first nine months of its fiscal year. ▪
Ocado mulls over physical store   Despite strong competition, the British online grocer has recorded another year of sales growth. However, analysts claim that Ocado struggles to establish a dominant delivery presence. The e-tailer has also hinted at a move into bricks and mortar (paywall). ▪
Albert Heijn bundles delivery    The Dutch retailer, part of the Ahold group, trials a new delivery initiative called 'AH Bezorgbundel', which translates 'AH Delivery Bundle'. It offers unlimited free delivery for three months for a subscription fee of EUR 29. ▪
usa & canada
Walmart stirs up competition   The big box retailer takes on Apple, Samsung and others by launching its own unique mobile payment solution, branded as Walmart Pay. It also plans to hire a former Target marketing guru, after its own marketing head, Stephen Quinn, will retire early next year. ▪
German dairy giant leaves US   The joint venture between Pepsico and Germany's Theo Muller Group, which started  in 2013, has come to an end. Both companies agreed to close their production plant in upstate New York. National milk marketing cooperative Dairy Farmers of America has agreed to buy it. ▪
Canadian announcements   Department store operator Hudson's Bay, which purchased Germany's Galeria Kaufhof a couple of months ago, says it swung to a profit in the third quarter +++ International fashion retailer Esprit is teaming up with Montreal-based distributor Freemark Apparel Brands to return to the Canadian retail market. ▪
africa
Kerrygold packs in Nigeria   Dairy co-op Ornua, previously known as the Irish Dairy Board, plans to grow the Kerrygold brand in the African country and has opened a packing-­site in Lagos. The site will provide a new route to market for Irish powdered milk. ▪
Set to bring back the glow   Edcon's new CEO Bernie Brookes, who joined the ailing Johannesburg-based fashion retailer from Australian department store Myer, is determined to return the business back to its former glory, but admits it will have a more "difficult Christmas" than competitors. ▪
Sales grow but confidence plunges   South Africa’s retail sales growth has performed better than expected, providing some hope. However, consumers are pessimistic about the economic outlook, which suggests muted spendings this festive season. ▪

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