Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Monday, 30 May 2016

Hello, dear reader!
British bargain retailer B&M delivered premium results, as did Chilean retailer Cencosud and South Africa's Foschini Group. In the US, the nation celebrates Memorial Day and retailers gear up for serious sales. Enjoy our Monday bulletin and have a great start to the week.

asia & australia
Japanese decisions and declines   The planned merger of the country's third-largest convenience store chain, Familymart, and its smaller rival, Uny, was approved by their shareholders last week +++ Japan department stores saw their sales fall 3.8% year-on-year last month, with household electronics seeing the most dramatic reversal. ▪
Lotte delivers shopping experience   The South Korean department store is implementing a ‘Virtual Fitting Service’ for customers to try on clothes virtually, without having to physically put them on. In its Incheon store, Lotte has opened a BMW café that allows customers to enjoy motorcycles and related accessories. ▪
Steinhoff to expand Down Under   The South African furniture retailer seems to be interested to increase its market share in Australia. The company is reportedly looking to take over a number of sites vacated by Woolworths' Masters home improvement chain. ▪
Ambitious bargain retailer   British budget store chain B&M, whose chairman is former Tesco boss Sir Terry Leahy, wants to create 4,000 jobs (subscription) in the next two years and to open 50 new stores, including in Germany, within 12 months. The company posted soaring sales with revenues passing GBP 2 billion. ▪
Revamping stores   French retailer Casino has announced an overhaul of its Géant hypermarket banner, with changes being made in-store and online  +++ In order to 'serve its customers as effectively as possible' retail giant Carrefour has given its Saint Marcel supermarket in Paris an 'urban chic'. ▪
usa & Latin America
DIY chains beat the trend   Home improvement retailer Lowe's announced at its annual shareholders meeting that it is raising its dividend 25% to 35% per share. Market leader Home Depot has also started the year on a bright side. But which company did better than the other? Check out what the analysts say ▪
Firing up for Memorial Day   Today, the Americans are remembering people who died while serving in the country's armed forces with a public holiday called Memorial Day. Nearly every retailer will be offering some sort of discount this holiday and the top ones are gearing up for some serious sales. ▪
Cencosud enjoys profit jump   The Chilean retail conglomerate reported a net profit of US$ 159.5 million in the first quarter of 2016, which is a significant increase from the same period last year. The company said gains were due mainly to lowered costs and currency factors. ▪
Foschini stays focused   The South Africa-based clothing retailer, which has grown its turnover by double digits, says it will continue with its local expansion programme and acquisitions internationally. The diversified retail group now trades in 31 countries. ▪
Running shoes from Kenya   The East African country, home of the world's fastest runner, may soon produce its own high-performance running shoes. Two local entrepreneurs are starting a specialty shoe company called Enda, the Kiswahili word for “Go”  and hope to begin production in September. ▪

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