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14 March 2013
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Global retail industry news

  Global Industry Watch 
  • Canada's Leon's Furniture to buy rival The Brick
    Toronto-based Leon's Furniture can move ahead with its planned $700 million acquisition of rival The Brick now that the Canadian Competition Bureau has declined to oppose the deal. The Brick operates 229 stores under The Brick, The Brick Mattress Store, Urban Brick and United Furniture Warehouse brands. Marketnews Magazine (Toronto) (13 Mar.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Global growth drives higher profits at Zara parent
    Zara parent Inditex booked a 22% rise in net profits last year, in large part driven by fast-growing global sales in Europe and Asia that helped the Madrid-based retailer offset softer sales at home, the company said. The company has boosted sales abroad through a combination of opening new brick-and-mortar stores and adding online retail stores in more markets. The Wall Street Journal (13 Mar.) LinkedInFacebookTwitterEmail this Story
  • UK may need to re-examine business tax rates, minister says
    UK Business Minister Vince Cable called the country's business taxing system "old fashioned" and said it may be time to re-evaluate the way retailers and commercial properties are taxed. "I would like to open up a much bigger debate as to whether we've got the tax base right," he said. Reuters (13 Mar.) LinkedInFacebookTwitterEmail this Story
  Retail in Asia 
  • Social poetry contest helps KFC come back in China
    Yum! Brands reported better-than-expected February sales at KFC units in China, driven in part by a social-media poetry contest asking contestants to create works using the phrase "The chicken are innocent." The chain, which saw sales slide after media reports late last year that some suppliers had sold the chain chickens containing antibiotics and hormones, also mounted a safety, education and transparency campaign dubbed "Operation Thunder." Advertising Age (tiered subscription model) (13 Mar.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  Spotlight on Consumer Electronics 
  • Will gadget vending machines catch on in the UK?
    US consumer electronics retailer Best Buy has been rolling out gadget-selling vending machines to more venues in North America and buying unusual items from machines is proving even more popular in some areas of Asia, but the numbers show Brits are slower to adopt shopping methods that cut out the human element. "The British thing is still doing business with people," said Jonathan Hilder of the Automatic Vending Association. The Independent (London) (tiered subscription model) (12 Mar.) LinkedInFacebookTwitterEmail this Story
  • Samsung debuts Melbourne concept store
    Samsung's second Australian concept store in Melbourne is twice the size of the first store in Sydney and designed to show off more of the brand's TV and audio equipment, an advantage over rival Apple stores. Gizmodo Australia (14 Mar.) LinkedInFacebookTwitterEmail this Story
  • Other News
  NRF News 
  • Building an e-commerce business in China: A guide for retailers
    China’s Ministry of Commerce reported that web-based business-to-consumer sales in 2011 reached $124.22 billion, further reinforcing expectations that China will soon overtake the United States as the largest online shopping market. In a recent addition to the Shop.org white paper library, Hybris software examines the significant technical and cultural differences retailers must understand to meet the distinctive needs of Chinese consumers, and identifies best practices for evaluating e-commerce vendors and platforms. Download the white paper. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
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--Bill Gates,
American businessman


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