Hello, dear reader!
Germany's Edeka has been prevented from acquiring rival Tengelmann by a regional court decision, which overruled a minister's approval. In China, France's Auchan develops its online platform, while Swedish giant Ikea was forced to recall millions of products. Some US retailers prove that sustainability is important and in Cuba, the first wholesale store might have opened. Enjoy your Wednesday bulletin.
asia & Australia
Decisions and deals in China The Chinese arm of French retail group Auchan has signed a deal with digital intelligence firm Keyrus to develop its online platform in the country +++ Swedish furniture company Ikea has agreed to recall 1.66 million chests and dressers in China over concerns they could pose a danger to children.
Coles pushes prices The Australian supermarket giant challenges rival Woolworths by cutting the price of 145 private label grocery lines by as much as 25%. The company's focus on private label lines for its latest price push is also targeting Aldi shoppers, according to retail analysts.
europe & Middle East
Ebay buys in Israel The US e-commerce giant plans to acquire Israeli start-up SalesPredict, which uses advanced analytics to predict consumer-buying behaviour. Financial terms of the deal were not disclosed but sources estimate that the acquisition was for about US$ 40 million.
USA & Canada
Physical and digital efforts In a bid to better serve customers in the region, US tech-focused online retailer Newegg will open its first Hybrid Centre in Ontario this Friday +++ Home renovation chain Rona says its efforts to attract tech-savvy shoppers got a boost and sales doubled when it replaced its printed flyer with an expanded digital offering.
Sustainability matters In collaboration with Conservation International, convenience store chain 7-Eleven has committed to reducing its energy and packaging footprint in stores by 20% , while retail heavyweights Kroger and Target have released sustainability updates that highlight steps to improve seafood sourcing.
Cencosud offers shares The owners of the Chile-based retailer announced that they would sell a 5% stake in the company via a share offering. Cencosud runs the 'Jumbo' supermarket, 'Paris' department store and 'Easy' home improvement brands and operates throughout South America.