Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Friday, 20 May 2016

Hello, subscribers!
Politicians in Australia pledge to tackle anti-competition practices, in the UK, there is yet another bidder for BHS, and a Chinese smartphone manufacturer expands in the US by cooperating with Google. Have a great weekend, and don’t forget to share.

australia & asia
Old Navy closes in Japan   After recently hinting at possible overseas closures,  US clothing retailer Gap has announced it will streamline operations by closing its 53 Old Navy stores in Japan as well as some Banana Republic stores, mainly outside North America ▪
Yili favourite in China   According to a recent study from Kantar Worldpanel, the dairy company was the most popular consumer brand in China last year, and its products were purchased on average 7.8 times by 88.5% of the country’s population. ▪
Anti-competition targeted   “Australia is prime breeding ground for monopolists, moguls and cartels,” according to  analysis by Labor politician Andrew Leigh, and his party says they will change the Competition and Consumer Act, should they get elected ▪
Another bidder for BHS    Crown Crest, the parent company of discount chain Poundstretcher, is the latest to bid for the High Street retailer, which went into receivership last month. Meanwhile, British members of parliament are demanding answers from the Pensions Regulator in relation to cancelled plans to restructure BHS’s pension scheme. ▪
Contactless payments growing   According to the UK Cards Association, contactless spending was GBP 1.5 billion in March, beating the last milestone of GBP 1 billion +++ Meanwhile, High Street figures show that though UK shoppers are buying more goods, they’re not spending more money. ▪
Mothercare scores profit   The parent and child retailer continues to turn around its fortunes, and for the first time in five years, has reported a pre-tax profit. In the year ending March 26, the group’s total underlying profit grew to GBP 19.6 million. ▪
Surprise result for Walmart   Bucking the trend of poor results, and showing store improvements are paying off, the US retail giant has posted a revenue increase in the first quarter of 0.9%. ▪
New looks revealed   On Thursday, as Apple prepares to overhaul as many as 480 stores worldwide, the technology giant provided consumers a glimpse of things to come at its San Francisco store +++ Target, in a pilot programme dubbed “LA25,” has added 35 enhancements, including service stations for fast online pick-ups, to 23 of its Los Angeles stores. ▪
Xiaomi expands in US   As it fends off strong competition from other Chinese brands, the smartphone giant, in cooperation with Google, is set to release a new TV set-top box in the US — the first android device ever sold by Xiaomi in the country. ▪
New TV plant in Egypt   In an effort to capitalise on growth in emerging markets, Chinese electronics manufacturer TCL Multimedia has set up a joint venture with Egyptian consumer electronics distributor Elaraby Group, which will see a TV production plant built in Egypt to tap into the Middle East and Africa. ▪
Delta's revenue shrinks   Zimbabwe’s largest beverage producer could see its forecasted revenue to March 31, 2017 shrink by up to 9%, according to Researchers at MMC Capital. A volatile economy hampered by lack of liquidity is blamed. ▪

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