Hello, dear reader!
Congratulations, Tesco - the troubled supermarket chain is back on track in Britain with an increased market share for the first time in five years. In the US, Walmart intensifies its competition with Amazon by launching a free streaming service. In South Africa, Pick n Pay stays strong, while fashion retailer Truworth struggles. These stories and more feature in today's issue. Please do share if you like it.
asia & australia
Coles trials liquor format The Australian supermarket operator, owned by conglomerate Wesfarmers, has launched a pilot new store format selling alcohol, called ‘LiquorMarket’. It opened last week in Victoria and is regarded as a direct pitch against rival Woolworth’s Dan Murphy’s banner.
Tesco on top spot Latest figures in Kantar Worldpanel reveal that Britain's biggest supermarket operator is back on track. For the first time in five years, the British supermarket operator was able to grow its market share to 28.2%. German discounters Aldi and Lidl continued to grow.
Eco-friendly efforts Finnish retailer Kesko has signed up for a new energy-efficiency agreement in Finland to promote and achieve the highest attainable energy efficiency. Meanwhile, Russian retailer Dixy Group has implemented an electronic workflow system with its suppliers to reduce paperwork and improve efficiency.
Gap closes more stores The ailing US fashion retailer Gap has announced that it will close its eight Banana Republic stores in Britain and focus on its home country to revive sales. The company says it will keep an online service for customers in the UK. The retailer declared in May it would shut stores overseas.
usa & canada
Giant Eagle offers buyouts Falling grocery prices and increased competition from discounters such as Aldi have forced the Pennsylvania-based supermarket chain to cut costs by offering buyouts to a number of its corporate employees. The chain owns or operates more than 420 supermarkets.
Poor sales for Truworth The South African fashion retailer, which operates over 650 stores in its home country and 40 in the rest of Africa, reported a decline in revenue for the year to July. Truworth says it will now focus on containing costs.