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Retail Update - powered by LebensmittelZeitung
Friday, 07 October 2016

Hello, subscribers!
Japanese retailer Seven & i Holdings, which operates 7-Eleven convenience stores, has announced plans to overhaul its business; the Tengelmann takeover saga has reached another milestone; and US retail giant Walmart is on track to double its number of warehouses for online sales by year end. Have a great day, and if you enjoy this edition, please share.


asia & australia
Asian expansion   To capitalise on the country’s 10% rise in coffee consumption, US coffee giant Starbucks is set to grow in Cambodia and has opened another store in Phnom Penh +++ Hong Kong-based fashion brand Cath Kidston Asia is gearing up for “significant expansion”and by the end of the year will launch into India. ▪
Japanese profits   Japanese retailer Seven & i Holdings Co, parent company of 7-Eleven, has announced an overhaul, which includes divesting a number of its poor-performing department stores. In other news, despite household spending falling for the sixth consecutive month in August, some retailers in Japan are achieving profits by keeping prices down. ▪
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Tengelmann saga goes on   Several retailers have agreed to drop their legal challenge to Germany’s largest supermarket corporation, Edeka, purchasing struggling supermarket chain Tengelmann, potentially saving jobs. This may not be the end of the story, though, and trade union Verdi says a final agreement should be made by October 17. ▪
High street competition   German discounter Aldi has reportedly launched a fashion range in Britain. Compared to other high street chains, Aldi says the collection is up to 60% cheaper +++ In early 2018, British clothing and footwear retailer Next will move into a former BHS store, opening its biggest store and creating new jobs. ▪
Opposition to tax   Portuguese hypermarkets owe about EUR 15 million in food-safety tax, and over 500 court actions against the levy are underway. The food security tax applies only to grocery retailers that have a sales area exceeding 2000 square metres. ▪
Walmart stays focused   The world’s largest retailer is on track to have 10 warehouses dedicated to online sales by the end of the year. As it focuses on e-commerce, Walmart will open just half the amount of supercentres in 2017 that it did in the last year. The company has set its sights on 20% to 30% online sales. ▪
Mars integrates gum   The US confectionary and pet food giant will purchase business mogul Warren Buffett’s minority share in its Wrigley subsidiary. This will enable Mars to fully integrate the world’s largest chewing gum manufacturer into its own operations. ▪
Investing in bricks-and-mortar   To increase its presence in the state, US retailer Weis will buy the assets and location of Nell's Family Market in Pennsylvania +++ In November, online apparel retailer ModCloth will open its first physical store in Austin, Texas. Other stores are expected to follow. ▪
Edcon hires 2,000   Following its exit from US private equity firm Bain Capital Partners, South Africa’s largest clothing retailer plans to win back customers by cutting prices and increasing its workforce by almost 7%, which is more than 2,000 people. ▪
Diageo backs off from Nigeria   The British alcoholic beverages company has decided not to increase its investment in the Guinness Nigeria subsidiary, which would have taken its stake to 70%. Diageo cites rough market conditions, which have resulted in a considerable drop in Guinness Nigeria’s share price. ▪

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