Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Friday, 24 June 2016

Hello, dear reader!
What a day: The Brexit earthquake has happened as the Brits voted to leave the European Union. In the US, German consumer goods giant Henkel made a billion-dollar laundry deal. In Australia, South Africa's Steinhoff is in talks to buy Masters and more from Woolworths.  Enjoy the read and have a great weekend.

Rejecting the EU  Britons voted to leave the EU in a historic referendum, setting up uncertainty in UK’s political scene and shaking up many financial markets world-wide.  The GBP fell to its lowest level against the US$ since 1985. Bloomberg analyses the winners and losers. ▪
Markets in turmoil  As a result of the Brexit vote, the euro dropped and currencies from Australia and New Zealand to Mexico and South Africa slumped. Analysts, however, seem to agree that there might not be any significant effects of the vote on emerging markets such as South Africa. ▪
 asia & australia
Steinhoff to buy Down Under   The South African retail giant could become a major force in Australian retail and a rival to Wesfarmers. Serial bidder Steinhoff is said to be in talks with Woolworths about acquiring the Big W discount department store chain as well as select Masters Home Improvement sites. ▪
Going global   New Zealand-based T&G Global, the fruit marketer controlled by Germany's Baywa, is set for global expansion. The company has posted a 83% gain in profit last year and will open a new office in Thailand in collaboration with kiwi marketer Zespri, which has tripled its full-year forecast. ▪
Flipkart gets tough   India’s largest e-commerce firm has changed its policy toward third-party sellers on its platform, charging higher commission rates in key categories, passing on costs of product returns to sellers and encouraging them to use its logistics service. ▪
Tesco continues to focus   The British retailer plans to open a major new distribution hub in Poland, ending speculation the grocer was gearing up to abandon the Eastern European market. Over in the UK, the company posted a second consecutive quarter of sales growth and sold its Harris + Hoole coffee chain to Caffe Nero. ▪
Spar offers speedy delivery   The Netherlands-based company has announced that it will introduce same-day deliveries and believes that it is the first Dutch food retailer to offer the service without any additional charges for this option. ▪
Ambitious expansion plans   Spanish start-up Fruitbull provides real-time information on a variety of horticultural market characteristics and is determined to enter the US market later this year, as it continues with its global expansion plans. ▪
USA & Canada
Quality meat in demand   German discounter Aldi has launched its Never Any! range of quality meat products, free from antibiotics and growth-enhancing drugs, in the US. The “free from” attributes are certified by the USDA. Meanwhile, Arkansas-based food giant Tyson Foods enjoys surging demand for its branded meat products. ▪
Store concepts on trial    Whole Foods Market expands in Chicago and has opened an "intellectual themed" market that pays homage to the university in the neighbourhood +++ California-based department store operator Ross Stores will open eight new discount stores, bringing its "off-price" chain to nearly 200 locations. ▪
Billion-dollar laundry deal   German consumer goods giant Henkel is set to grow in North America. The company announced plans to acquire US-based Sun Products in a US$ 3.6 billion deal to bolster its market share for laundry-care products and fabric-conditioners. ▪



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