Kingfisher snaps up former Carrefour China chief executive, while Migros looks to shed department stores and Tesco looks to go cashier free. Franchises expand in Southeast Asia, and bidders prepare for Alibaba's Hong Kong share sale. In the US, Amazon arranges new customer pick-up options. Read on, and have a great weekend!




Friday, 28 June 2019





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Kingfisher snaps up former Carrefour China chief executive, while Migros looks to shed department stores and Tesco looks to go cashier free. Franchises expand in Southeast Asia, and bidders prepare for Alibaba's Hong Kong share sale. In the US, Amazon arranges new customer pick-up options. Read on, and have a great weekend!




Europe


Top changes ▪ Kingfisher has a new chief executive after nabbing former Carrefour China CEO Thierry Garnier. The British home improvements retailer is hopeful that the industry veteran can improve their struggling forecasts.



Market action ▪ Over 100 Sainsbury's employers are taking part in a day strike after union members voted against the UK supermarket's absence policy. Meanwhile, the grocer has marked down the prices on 125 summer BBQ products.



New focus ▪ Migros is looking to ditch its Globus department stores, as well as its Depot and Interio homeware lines. The Swiss retail major is hoping the move will benefit the businesses, and give it room to focus on its core and online ends.



Future shopping ▪ Tesco is set to go cashierless along with the aid of Israeli tech firm Trigo Vision. The UK supermarket leader is set to rival the likes of Amazon Go, having already implemented technology to help track customer purchase items.



Store plans ▪ 500 jobs are in the lurch with Bathstore entering administration. Despite strong efforts the UK retailer has struggled to maintain growth in the challenging British retail climate. Meanwhile, e-commerce company The Hut Group is opening a new Manchester location for its health and beauty brands.




United States


Amazon update ▪ The online giant has launched a new order retrieval option for customers, in collaboration with partner Rite Aid. Shoppers will now be able to pick up their purchases in person from nearby retailers. The company has also recently filed a lawsuit against counterfeiters along with light specialist Nite Ize.



Discount developments ▪ Target will be opening a store in Orlando's new 450,000 square foot retail centre. This is the second stage of the discount giant's development on the product, and is slated to open in 2020. One of the retailer's smaller stores also recently received top marks for its design. Check out images here.




Asia


Climate concerns ▪ Alibaba's anticipated USD 20 billion Hong Kong share sale is getting attention from Asian bidders, amid falling IPO proceeds across the Asia-Pacific. Hong Kong's retail climate in general is looking bleak, with sales expected to fall 5% this year.



Eastern expansion ▪ Singpore's Uniq has entered the Phillipines. The electronics accessories retailer is opening its first store in the country in Quezon, and will be targeting young professionals. Indonesian coffee chain Kopi Kenangan has also pushed forward in a USD 20 million deal with Sequoia India.



Bread rising ▪ Little known but widely eaten Australian baker Turkish Bakeries is finding a new market after the entrance of Aldi into the country. The German discounter has provided an opportunity for Turkish Bakeries to develop its artisan range.




Environment efforts


Ethical moves ▪ The Co-op has revealed plans to intensify its climate-change prevention strategy, pledging to halve carbon emissions by 2025. The British consumer co-operative has already seen a 50% reduction in said emissions since 2006.