Hello, dear reader!
With online shopping on the rise, a number of retail heavyweights are investing in the e-commerce side of their businesses, among them Sainsbury's in the UK, Interspar in Austria and Albertsons in the US. Swedish retailer Ikea plans online stores in India, and Carrefour has launched an innovative concept in Taiwan. Read these stories and more in today's issue.
asia & Australia
Pepperfry increases its reach The Mumbai-based online furniture and home decor marketplace has raised new money for expansion. The five-year-old company plans to double its reach and open its concept stores, called Pepperfry Studios, in 20 more cities in India.
Chicken king saves turkey giant Ranjit Boparan, the food tycoon who owns British manufacturer 2 Sisters Food, has purchased Bernard Matthews, Europe’s biggest turkey producer. The acquisition will save the jobs of 2,000 workers and secure the continuation of the company's current pension arrangements.
usa & canada
Target pleases shareholders The US discounter announced a US$ 5 billion share buyback plan to reinforce the company's commitment to returning cash to its shareholders. The retailer also supports start-ups with its Target+Techstars accelerator programme, which saw 11 innovators delivering their ideas recently.
Albertsons goes digital The Idaho-based grocery chain is set to expand its e-commerce operations. Using MyWebGrocer's platform, Albertsons plans to add click-and-collect and delivery options at several of its banners.
Walmart rewards workers The world's largest retailer paid more than US$ 200 million in cash bonuses to nearly a million hourly workers across the United States. The employees are being rewarded for helping to improve customer satisfaction.
Expansion expenses Botswana's leading supermarket chain, Choppies, reported a slump in earnings due to pre-operative expenses in Zambia and Kenya. Nevertheless, the retailer is set to continues its expansion into neighbouring countries. Guinness Nigeria, which is considering selling some of its products in South Africa, posted its first loss in at least 30 years.
Energising Edcon The struggling South African clothing retailer is now owned by creditors after US company Bain Capital handed over ownership in a debt-for-equity swap deal valued at US$ 1.5 billion. Edcon is determined to get back to the business and has no plans to sell its flagship chain, Edgars.