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
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.
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.