Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Tuesday, 24 January 2017

Hello, dear reader!
A rocky holiday season and declining mall traffic take their toll on some of retail’s biggest names in the US, among them Macy's and Sears. More than 10% of retail space may need to be closed, on top of thousands of stores that have already been shut down. So, are there too many stores in the States? Get informed about this alarming development and the vision of Chinese online giant Alibaba for America. Enjoy the read and don't forget to share the news. 

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asia & australia
Alibaba eyes US growth   The Chinese online giant, which is expected to report its best financial quarter today with an estimated revenue of US$ 7.3 billion, is going to lure more businesses in the US in the next five years, while its facing a cooling economy at home. ▪
Samsung reports profit   The South Korean tech giant said that it earned US$ 6.1 billion during the October-December period. Booming sales of components helped the company to deal with the recall of millions of Galaxy Note 7 smartphones, for which it blamed manufacturing and battery design problems. ▪
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Shake-ups Down Under   With more than 100 roles advertised, Amazon is getting ready for its market entry in Australia. Its local warehouses are set to open in September. Meanwhile, Canberra-based independent supermarket chain Supabarn scales down and has sold its wholesale business to a Metcash competitor. ▪
europe
Carrefour cuts jobs   Citing ongoing losses, the French supermarket chain has announced that it will close three Italian stores, which will result in the loss of 500 jobs. Over in Belgium, shoppers can rejoice as the retailer will increase the number of click-and-collect points and extend its home delivery network. ▪
Lidl cares in Poland   The German discounter has announced an increase in salaries of their employees by an average 9% and is set to create several hundred new jobs in the country. The company also offers medical insurance possibilities for the whole family. ▪
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Bold experiments   Oxford University scientists teamed up with UK supermarkets to persuade consumers to eat less meat and more vegetables, while Swiss retailer Migros will trial the use of reusable take-away dishes in a bid to limit the waste of disposable ones. ▪
usa & canada
Kroger on hiring spree   The US supermarket operator is offering 10,000 permanent positions, almost exclusively at store level. The announcement, which came just three days after President Trump was sworn in, followed similar hiring plans by big US companies such as Walmart and Amazon. ▪
The giants move on   Walmart is tapping into the car sales industry through a new partnership with CarSaver, an auto retail platform, which will set up kiosks at 25 superstores of the big box retailer. Rival Amazon gets ready to break ground on its first fulfilment centre in Colorado, creating more than 1,000 jobs. ▪
Top level appointments   Toy retailer Toys "R" Us has hired Pepsico veteran Carla Hassan to lead its global marketing efforts and home improvement retailer Lowe’s announced that Jocelyn Wong has been appointed to the position of chief marketing officer. ▪
what to watch
Bleak outlook   US retailers are facing increasing pressure as more of their business migrates to the internet. More than 10% of US retail space may need to be closed, on top of about 5,000 stores that have been shuttered recently according to data by real estate company CoStar ▪
Global ranking   Every year, financial firm Deloitte publishes a list of the 250 largest retail chains in the world. Walmart remains number one, Germany's Schwarz Group is the leading European retailer and for the first time, Amazon is in the top 10. Acquisitions, divestitures, and exchange rate volatility shuffled the rest. ▪

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