Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

Hello subscribers!
MBK is reportedly the preferred bidder for Tesco’s South Korean unit, Homeplus, New Zealand-based Briscoe Group’s bid for Kathmandu looks shaky, two US retailers are embroiled in legal problems and Woolworths South Africa appoints a new CEO. All these stories and more are in today’s RetailUpdate. Have a great day.


asia & new zealand
Alibaba rolls out streaming video   The e-commerce giant’s video subscription platform, Tmall Box Office (TBO), is now available to some Chinese users of its smart TV operating system. In other news, head of international marketing and business development, Michael Lee, says Alibaba is aiming to increase its presence in Latin America, particularly Argentina and Brazil. ▪
Quest for Kathmandu looking shaky   In the midst of an increasingly hostile take-over bid, the outdoor clothing retailer’s board today reiterated that Briscoe Group’s offer is inadequate; they advised shareholders to reject it. ▪
Snapdeal acquires Silicon Valley start-up   In an effort to challenge the likes of Flipkart and Amazon, the Indian online marketplace has acquired Silicon Valley start-up Reduce Data. Snapdeal founder, Asif Ali, says they’re confident the acquisition will strengthen their technological capabilities. ▪
MBK reportedly preferred bidder for Homeplus   MBK Partners is reportedly Tesco’s preferred bidder for their South Korean unit, Homeplus. The multinational grocer is selling Homeplus in an effort to cut its GBP 22 billion debt and fund a turn-around plan. ▪
New CEO for Asos   Effective immediately, ASOS boss, Nick Robertson, is standing down as chief executive after holding the role for 15 years. Mr Robertson will stay on as a non-executive director, and  Nick Beighton will become CEO. ▪
El Corte Inglés enjoys sales growth   Since investing in improving their offering over the past 12 months, the Spanish retailer has posted an increase in sales of 2.6%. El Corte’s gross operating profit rose 14.5% since last year. ▪
Amazon continues to innovate   The e-commerce behemoth is expanding its Dash Buttons programme. Amazon’s Dash Buttons, small Wi-Fi connected hardware that enables you to order everyday products with just a tap, launched earlier this summer. Amazon is also offering offline viewing to subscribers of its Prime video service. In India, they have launched Kindle Unlimited, an all-you-can-read subscription service. ▪
Legal problems for retailers   To resolve allegations it misused drug manufacturer coupons and gasoline discounts to reduce costs for Medicare patients at their pharmacies, Kmart has paid the US government $US 1.4 million +++ Supermarket chain Haggen is suing Albertons Holdings, the parent company of Albertons and Safeway stores, for US$ 1 billion. Albertons Holdings is accused of “premeditated acts of unfair and anti-competitive conduct”. ▪
Chicago Target store may serve liquor   The US retailer has applied for two liquor licenses for a store in Chicago planned to open in October. Though take-home alcohol is already available at many Target stores, they have applied for a Consumption-on-Premises Liquor license as well as a Packaged Good License. ▪
New CEO for Woolworths   Zyda Rylands has been appointed as the new CEO for Woolworths South Africa. Ms Rylands will be responsible for the whole food and clothing business throughout Africa. ▪
Krispy Kreme coming to SA   By the end of November, the doughnut company and coffee retailer will open its first store in Johannesburg, South Africa. The company plans to open 31 Krispy Kreme shops in the country over the next five years. ▪
Share price plummets for Mr Price   After announcing its first-half sales growth had slowed to 9% compared to 15% from the matching period, the retailer’s share price has plummeted. Poor fashion calls, the late onset of winter and Easter School holidays are some of the reasons given. ▪

If this newsletter was forwarded to you, subscribe here!
For questions or comments please contact us here

To advertise in Retail Update click here

RetailUpdate is a product delivered to you by