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It is a fast-paced world and plans may change overnight. While only yesterday it seemed as if Douglas was about to return to the stock market, the German retailer now decided to opt for an updated offer from CVC. Find out about this turnaround and more stories from the retail world.
Asia & Australia
Struggling Australian companies Department store chain Myer will be closing its store in the Top Ryde City shopping centre in Sydney in late July and three more stores in Melbourne by the end of August +++ The Retail Food Group, which owns several franchise systems in Australasia, has announced asset writedowns of A$18.5 million.
C-star is China's most international retail show
The first edition C-star was a huge success. On a net exhibition space of 5000 square meters, C-star featured 162 exhibitors from 23 countries. Despite being held for the first time, 5721 visitors from 59 countries and regions came to visit the show, with 18% coming from overseas. This makes C-star China's most international retail trade show.
Join us next year for another exciting edition of C-star!
Booming sales for 7-Eleven Malaysia The convenience chain store reports a rise in sales by 23.7% for the first quarter of the year. The company expressed optimism for future growth in spite of the implementation of GST in Malaysia on 1 April.
Brand name possibly up for sale Online retailer Shop Direct closes its Woolworths website and evokes speculations about a sell-off of the brand name, which it had bought after the original stores group collapsed in 2008.