Hello, dear reader!
Flying drones commercially is on the agenda in Korea. Over in the US, Walmart considers robots for shoppers. The gloves are coming off between Staples and Office Depot as they fight for customers. South Africa's Steinhoff is working on its first European deal in Britain, where Brexit triggers economic convulsions. These stories and more are featured in today's issue. Please feel free to share.
asia & australia
Ice cream trials and meat wars New Zealand dairy giant Fonterra wants to sell its famous Tip Top ice cream online in China via Alibaba. Over the ditch, Woolworths has opened a new front in Australia's supermarket price war by announcing significant price cuts to lamb meat with Coles and Aldi to follow suit.
Eying targets overseas After failed attempts to buy retailers Darty and Argos, South African serial bidder Steinhoff has launched an offer for British struggling discount chain Poundland +++ Chinese tech giant Tencent is reportedly in late-stage talks to buy a majority stake in Finnish videogame company Supercell.
Strong performances Inditex, the retailer behind the Zara fast-fashion chain, posted an increase of 6% in net profits as sales continued to increase at a healthy pace. Also enjoying strong growth home and abroad is British beauty retailer Holland & Barrett.
Investing in stores Italy’s Coop Alleanza 3.0 will spend EUR 104 million in 15 new store openings and the refurbishments of current formats, and Spanish grocer Caprabo has announced plans to invest EUR 4 million into developing 10 new forecourt stores.
usa & canada
Brookshire debuts with Spring Texas-based supermarket operator Brookshire Grocery has agreed to acquire 25 former Walmart Express stores and will convert them to its new Spring Market banner. The acquisition is to be completed in July.
Office supply competition One month after their failed merger, Office Depot plans to beat Staples during the busy back-to-school season with the announcement to hire 8,000 workers. Meanwhile, Staples retaliates by entering the same-day delivery space with trials in major cities across the US.
developments to watch
Brexit or Bremain A vote to leave the European Union would cause retailers to suffer and damage the UK economy according to Economist Intelligence Unit. German Retail Blog examines the mixed chalice of Brexit and ponders how one can get Brits to vote for Bremain next week.