Hello, dear reader!
Numbers, numbers and more numbers are covered in today's issue: Apple, P&G and other corporate giants reveal their latest results. Troubled retailer Tesco has accepted a damning report about its dealings with suppliers. Metro continues to invest in Portugal and Poland plans new trade taxes. Enjoy the read and spread the word. RetailUpdate remains FREE.
asia & australia
Gains and losses Down Under Profits in Australia have gone flat for Heineken. The local arm of the Dutch brewer, beer and dairy group Lion, suffered a 16% fall in annual profits +++ Sydney-based furniture retailer Fantastic, which saw the exit of two execs recently, has reported a strong profit.
FOODBOARD™ – Cartonboard with functional barrier for sustainable and safe food packaging
With FOODBOARD™, Mayr-Melnhof Karton has developed the next generation of cartonboard which ensures highest product safety: FOODBOARD™ shields packed food against the migration of defined unintended substances such as mineral oils, phthalates, DIPN and bisphenol A and provides protection against cross-contamination during transport, storage and at the point of sale.
Apple reshuffles in India The Indian unit of the US tech icon has merged its product divisions and split its business into two in a bid to significantly expand its market reach and improve efficiency.
Meat alliance in France French meat producer Groupe Avril, which supplies Carrefour and others, will join forces with German food-producing giant Tönnies to form the company l’Atelier des Viandes to serve the French market. Their combined investment is said to be EUR 5 million.
Metro sees potential in Portugal The German retail group will reportedly continue to invest in Portugal, despite cutting 215 jobs in 2015 as part of restructuring. The country is seen as a “market with great potential”.
Poland plans tax on trade The Polish governmentis getting serious about introducing a new tax on retail sales. According to the draft, operators with sales over EUR 67 million per month will pay 0.7% tax. The measure will have an impact on the likes of Tesco, Carrefour and Germany's Schwarz group.
usa & canada
Staples axes hundreds of jobs The office supply chain giant announced several key executive moves as part of an organisational “streamlining.” After two years of store closures, hundreds of corporate employees are to be laid off.
Revealing results Healthcare conglomerate Johnson & Johnson reported strong earnings thanks to its drug sales unit +++ Consumer good company Procter & Gamble topped profit expectations +++ Apple’s quarterly profit of US$ 18.4 billion was the largest in corporate history, but the company predicts a drop in the next quarter.
Donations and other moves Walmart supports the Oregon State University with US$ 810,000 to research "environmentally conscious" methods of dyeing fabric +++ Canadian convenience store chain Couche-Tard has appointed Claude Tessier as its CFO +++ Athletic wear giant Under Armour plans to open some 200 store in 2016.
Demand for better data 75% of retailers believe inaccurate data is undermining their ability to provide an excellent customer experience, according to a study by Experian Data Quality. 84% state that data is an integral part of forming a business strategy.
Capitalising on consumer values To help retailers and manufacturers better understand the drivers of consumer values, Deloitte Consulting, the Food Marketing Institute and the Grocery Manufacturers Association conducted a joint study. Click here for its findings.