Britain's biggest supermarket is back on track with a healthy profit, while rival Sainsbury's is unveiling a new pay structure that is leaving unions worried. Across the Atlantic, troubled Sears is putting up shops for auction in an attempt to increase its liquidity. In Asia, Flipkart is placing its bets on the Internet of Things. Enjoy the read, and don't forget to share!




Thursday, 12 April 2018





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Britain's biggest supermarket is back on track with a healthy profit, while rival Sainsbury's is unveiling a new pay structure that is leaving unions worried. Across the Atlantic, troubled Sears is putting up shops for auction in an attempt to increase its liquidity. In Asia, Flipkart is placing its bets on the Internet of Things. Enjoy the read, and don't forget to share!




Europe


Beating expectations ▪ Tesco posted a 28.4% rise in full-year profit, highlighting the recovery of Britain's biggest retailer under CEO Dave Lewis, who joined the supermarket in 2014. Tesco stated that it is firmly on track to deliver its medium-term targets, which include a further cutting of costs and improvement of operating margins.



Plans and realities ▪ Carrefour has officially opened a new food e-commerce logistics platform in Alnay-sous-Bois in Paris, the retailer's first in the region. However, Europe's largest retailer also saw its sales growth slow in the first quarter, with its core French market a continued weak spot.


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Turnarounds and transformations ▪ Asos saw the number of visits to its website exceed one billion for the first time in the first half of its financial year. Ikea's CEO says it is planning a "dramatic transformation" over the next three years, with a focus on increasing its agility and driving online and urban sales.



Pay problems ▪ Sainsbury's proposed base pay deal for its 130,000 store employees could "hugely affect" its future brand perception and recruitment, says Unite union. The deal offers hourly increases for its UK employees, but with changes including removals of pay for breaks, many employees could see their take-home wages fall.




US & Canada


Closures and openings ▪ 16 Sears stores are being auctioned off online, as the department store chain attempts a return to profitability, with plans to close over 100 stores by April. Meanwhile, rival Nordstrom is opening its first ever Manhattan location, in a bid to woo online shoppers away from their computers with special amenities.



Cheaper prescriptions ▪ CVS has introduced a tool to make it easier for pharmacies to find less costly drug alternatives for patients, by allowing pharmacists to compare products. During the pilot program of the "RX Savings Finder", 95% of patients made the switch when offered a less expensive alternative, as well as 85% of doctors.




Asia & Australia


Japanese gains ▪ Aeon, the country's biggest retailer by sales, is to invest in Boxed.com, which sells household items in bulk online, a deal which would make Aeon one of Boxed’s top shareholders. Compatriot Muji expects to earn a record net profit for the fourth consecutive year in fiscal year 2018.



Wearing the web ▪ Flipkart is betting on Internet of Things powered devices like wearables and smart home solutions, and is working with large Indian brands to expand these categories. The Indian e-commerce major claims that it commands almost 50% of the online wearables market in India.



Duty free deal ▪ Dufry, the world’s biggest duty free operator, has won a five-year contract to run stores in a controversial new railway station in Hong Kong providing a high-speed connection to mainland China. The Swiss company aims to open outlets throughout Asia.




Food findings


Mall munchies ▪ Mall owners are increasing the percentage of retail space for F&B outlets in an attempt to drive traffic to properties and keep customers staying longer. According to a new study, 40% of customers today will pick a mall primarily based on food offerings there.



Youthful appetites ▪ Teens are spending more money on food than clothing, a trend which has been growing in recent years, according to a survey highlighting spending among teenagers across 40 US states. Video games for males and beauty products for females are also gaining share.