Changing customer habits call for a change in the attitude of supermarkets towards shopping around the clock. Tesco announces to end the 24-hour opening times at another 20 of its stores. In China, one of its key overseas markets, Apple suffers a setback, and in Australia, Metcash's 'Transformative Initiative' has delivered some desired positive results. Enjoy the read!
Asia & Pacific
Entertaining China Seeking a leading position in the booming home entertainment market, retail group Suning's online video streaming arm PPTV will expand into the hardware market +++ As the designs of the iPhone 6 and iPhone 6 Plus are too similar to a Chinese phone, Apple has been ordered to stop the sale of those models in Beijing.
Tesco slims The British retailer brings the number of its outlets that provide a 24-hour opening down to just over 300 by reducing the opening hours at another 20 of its stores, a move which puts 2,000 jobs at risk. The sale of its garden centre chain Dobbies for GBP 217 million to two private equity houses has been confirmed by Tesco.
New operations in Italy A new and third milk and dairy hub, Centrale del Latte di Firenze, Pistoia e Livorno, has been formed in Italy, where the stock-listed company will begin trading on 30 September +++ Supermarket chain Conad will invest in opening 88 new outlets in 2016.
Africa & Middle East
Fast-food brand operator changes hands Shortly after an earlier deal was dropped, a group of Persian Gulf investors agree to buy the majority stake in Americana, the Middle Eastern operator of fast-food brands such as KFC, Pizza Hut and Hardee’s, for roughly US$ 2.5 billion.
Sweet thirst In Mozambique, a new Coca Cola factory has been inaugureated, which will be able to produce 150 million crates of soft drinks per year by its third year.