Results are rolling in today, with Amazon coming in under forecasts, and Starbucks beating expectations. Casino has cancelled its dividend in favour of dealing with debt, and British retailers have seen the longest streak of declining sales in almost eight years. Meanwhile, dog-lovers have something to look forward to when next visiting John Lewis. Read on, and have a great weekend!




Friday, 26 July 2019





Hello ,

Results are rolling in today, with Amazon coming in under forecasts, and Starbucks beating expectations. Casino has cancelled its dividend in favour of dealing with debt, and British retailers have seen the longest streak of declining sales in almost eight years. Meanwhile, dog-lovers have something to look forward to when next visiting John Lewis. Read on, and have a great weekend!

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Europe


Prioritizing funds ▪ Casino has revealed it is cancelling its 2019 fiscal year dividend, as it focuses on decreasing its debt issues. Analysts welcomed the move, which may help the multinational retailer avoid being targeted by hedge funds.



Reporting results ▪ Upmarket goods giant LVMH saw revenue rise 15% to EUR 25.1 billion for the first half. Portuguese retailer Jeronimo Martins has seen a 14% growth for the second quarter thanks to a well-placed Easter. Russia's Lenta retail chain also saw promising results.



Eight year low ▪ Amidst growing concerns of a post-Brexit economy, UK retailers have seen the longest interval of falling sales in nearly eight years. The Confederation of British Industry has revealed that in July profits slumped for the third month in a row. Meanwhile, employment in the sector has fallen for the 14th straight quarter.



Bag decisions ▪ UK supermarkets are shaking up the relationship between shopping and plastic bags, with Tesco doing away with them in its deliveries, and Sainsbury's bringing in reusable drawstring bags for fruit and veg. Iceland is scrapping plastic bags from one store entirely, offering paper bags instead in a new trial.




United States


Profit margins ▪ Amazon has fallen short of profit estimates for the second quarter, its first profit-miss in two years. The online powerhouse has seen rising costs due to increased spending on one-day delivery as it attempts to grow in the competitive online delivery market.



Driving home ▪ In a new pilot with autonomous vehicle company Gatik, Walmart will be trialing a single self-driving delivery van in its home neighbourhood of Bentonville, Arkansas. The vehicle will traverse a two mile radius between two of the world's biggest retailer's stores.



Exceeding expectations ▪ Starbucks has beaten profit estimates for the third quarter, with same-store sales leading the charge. The coffee giant saw an 8% increase in consolidated net revenue, and a 6% global rise in same-store sales. Store count also grew, with a net 442 stores opened during the quarter.




Asia


Overseas footprint ▪ Snow Peak, a Japanese outdoor and leisure brand, has chosen London for its European flagship. The retailer only has two other stores, in New York and Portland. The London site will feature three stories, as well as a tea and coffee bar and a basement area for product demonstrations.



Tea time ▪ Philippine restaurant retailer Jollibee Foods is purchasing US cafe chain The Coffee Bean & Tea Leaf in a USD 350 million deal. Meanwhile, Japanese beverage retailer 108 Matcha and Saro is opening its first store in Singapore. The location will be styled like a traditional Japanese tea-house.




Progressive ideas


Dog friendly ▪ Canine companions are many people's best friends, but they don't always make the best shopping partners. However, fashion retailer John Lewis may be about to change that, with a new policy to allow dogs in its stores as long as they are well behaved and on a leash.



Big solar ▪ When it comes to renewable energy Amazon is doing its best to do its bit. The Big Tech retailer has already met its commitment to outfit its fulfillment and sortation centres with 50 solar systems by 2020, and is intent on continuing to invest in sustainable energy sources.