Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Monday, 20 June 2016

Greetings!
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. ▪
Impressive Australian numbers   Supermarket wholesaler Metcash is back in black with an annual net profit of AU$ 216.5 million compared to a AU$ 384.2 million loss 12 months ago +++ According to a report by Cross Border Management, Chinese tourists are expected to spend more than AU$ 4.1 billion in Australian shops during 2016. ▪
NZ wine sales soar   The New Zealand wine industry has doubled its earnings in the past decade. The growth is expected to continue with sales approaching the NZ$ 2 billion mark +++ In Europe, the acclaimed 2015 Bordeaux vintage reaches a price increase of up to 60% compared to the previous year. ▪
europe
Legal issues   Swedish technology company Ericsson is experiencing additional pressure as US authorities investigate a possible corruption in 2013 +++ Philip Green's hearing before the British parliament was long and confrontational, but the tycoon promises to sort out BHS’s pension fund +++ In France, the association Prodimarques has launched a complaint against Lidl for unfair price comparison ▪
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. ▪
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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. ▪
USA
Revlon buys rival   The cosmetics brand acquires its competitor Elizabeth Arden for US$ 419.3 million, expecting the combined company to benefit from having a presence in more markets worldwide. ▪
Troubled credit card companies   While home improvement retailer Home Depot files an anti-trust lawsuit against Visa and MasterCard, the credit card companies promise to speed up the chip card certification process. Visa has reacted with an open letter to its ban by Walmart Canada. ▪
Walmart to axe admin jobs   The world's largest retailer is reportedly planning to layoff staff in accounting and invoicing roles at approximately 500 locations in the Western region of the US with roughly 1,500 jobs being affected. ▪
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. ▪
Popular destinations   In 2015, expansion efforts by the world's top 100 grocery retail companies concentrated on Africa and the Middle East, regions with a fast-growing population. ▪
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. ▪

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