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Retail Update - powered by LebensmittelZeitung
Friday, 11 March 2016

Hello, dear reader!
Supporters of Sunday trading changes in Britain suffered a major setback yesterday after the proposal was defeated. French giant Carrefour eyes the market in Israel and Germany's Otto Group partners in China via its subsidiaries. Over in the US, extended partnerships, store acquisitions and job cuts have hit the headlines. Enjoy the read and have a great weekend.

asia & south pacific
Chinese-German partnerships and decisions   Hermes Group subsidiary BorderGuru has teamed up with China's Alibaba Group and was announced as official contractual partner. Hermes is a logistics service provider, headquartered in Hamburg, and a wholly owned subsidiary of the Otto Group +++ Troubled German fashion retailer Hugo Boss has decided to close some 20 stores in China. ▪
Lotte to expand in Vietnam   South Korea’s Lotte Group has reportedly submitted bids for French retailer Casino's Big C Vietnamese stores, which could fetch as much as US$ 800 million. Lotte said last year that it plans to open 60 supermarkets in Vietnam by 2020. ▪
Warehouse beats forecast   Investments over the past few years start to bear fruit for New Zealand’s largest listed retailer, the Warehouse Group. The Auckland-based company has posted a strong first-half profit of NZ$ 57.2 million for the six months to January. Revenue rose 8.4% to NZ$ 1.57 billion. ▪
europe & middle east
Carrefour eyes Israel   France's largest retailer, which reported an increase in full-year operating profit to EUR 2.45 billion yesterday, is in talks to buy a stake in Israel-based supermarket chain Victory, seeking a slice of the country’s almost US$ 9 billion retail market. ▪
British performances   Home Retail Group has posted a stronger cash flow as well as signs of improvement at Argos, the target of a bid battle between Sainsbury’s and a Steinhoff +++ Supermarket operator Morrisons has bounced back into profit after returning to sales growth in the final quarter of its financial year. ▪
Setback for Sunday shoppers   The proposal by the British government to extend Sunday shopping hours has suffered a major setback after it was defeated in the House of Commons by 31 votes. This comes after over 100 council leaders have declared their support for the proposed changes. ▪
usa & canada
Acquisitions, openings and closings   Supermarket company Albertsons has reportedly agreed to take over the remaining 33 Haggen stores +++ Variety store company Dollar General reported record sales and is set to open a record number of 900 stores in 2016 +++ The parent company of clothing retailer Men’s Wearhouse plans to close 250 stores. ▪
Whole Foods and Instacart get closer   The organic retailer and the online delivery service company are taking their relationship to a new level.  Whole Foods is set to double the number of outlets offering Instacart as an online shopping and delivery option. ▪
Colgate cuts more jobs   The world's largest toothpaste maker, which struggles with tough macro-economic conditions and foreign-exchange volatility, has announced that it will extend its restructuring programme and cut more jobs. Up to 3,800 positions are affected globally. ▪
Advancing offshore   Spar South Africa has agreed to buy a majority stake in Spar Switzerland for 44.5 million Swiss francs, giving the company an opportunity to grow outside its home market in an established business in a stable market and push further into Europe. ▪
Tiger Brands names new exec   After a "rigorous" five-month select process, Johannesburg-based food company Tiger Brands has appointed Mondelez International regional president Lawrence MacDougall as its new CEO, succeeding Noel Doyle. ▪

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