NRF Global SmartBrief

Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/ejdDCfbwocfaknAdAweI

01 February 2013

Global retail industry news

Global Industry Watch

Canada's retailers prepare to say farewell to the penny
Canada will begin phasing out its penny on Monday, driving significant investments by larger retailers in systems that round out payment amounts, according to a study by the Retail Council of Canada. About three-quarters of small and medium-size businesses will do the math by hand rather than spend upward of $100,000 on system upgrades, the study found. The Globe and Mail (Toronto) (tiered subscription model) (31 Jan.)

Best Buy to shutter 15 Canada stores, cut staff by 5%
Best Buy will close eight Future Shop and seven Best Buy big box stores in Canada, cutting about 900 jobs as it moves toward smaller store spaces, the company said Thursday. The moves, which come as consumers are increasingly shopping online and in smaller showrooms, will still leave about 260 Best Buy stores in Canada. Minnesota Public Radio (31 Jan.), The Globe and Mail (Toronto) (tiered subscription model) (01 Feb.)

Sears Canada to cut 700 jobs amid 'rightsizing'
Sears Canada will trim its store staff by 360 and shed 300 distribution center employees in a move to "right-size" the struggling retail operation in advance of Target's entry into the market this year. Reuters (31 Jan.)

Retail in Europe

Louis Vuitton scales back growth to regain luxury lustre
Louis Vuitton will slow its global expansion plans and focus on promoting its high-end brands in an effort to keep the brand from losing its luxury cachet, said CEO Bernard Arnault. The brand, owned by luxury conglomerate LVMH, had been in expansion mode and now operates more than 460 stores in 50 countries. Reuters (31 Jan.)

UK electronics retailer Darty names new CEO
GlobalPost.com/Agence France-Presse (01 Feb.)

Retail in Asia

Tata sees profit growth with tea sales, Starbucks partnership
India-based Tetley Tea owner Tata Global Beverages reported a 25% jump in fourth-quarter profits, fueled by strong tea and coffee demand. Tata is an equal partner with Starbucks in India, where the coffee brand has opened six shops and plans to grow along with the country's burgeoning middle class. The Wall Street Journal (31 Jan.)

E-commerce Spotlight

Peter Jones to turn Jessops into online-only brand
"The Dragons Den" star and entrepreneur Peter Jones has bought the Jessops brand out of administration and will launch the defunct UK camera retailer as an online-only enterprise, according to administrator PricewaterhouseCoopers. The Telegraph (London) (tiered subscription model) (01 Feb.)

Technology Solutions

Appeals court sides with Samsung, rejects Apple's injunction request
A federal appeals court denied Apple's request for an injunction to ban South Korea-based Samsung from selling its Galaxy Nexus. It's the latest ruling in a case stemming from Apple's claim that the gadgets infringe on a patent the US company holds on a system for collecting information from various databases. The Wall Street Journal (31 Jan.)

Spotlight on Fashion

A new heyday for British-made fashion?
Traditional British brands including Mulberry and Burberry still make some of their products in the UK, but the revitalization of the country's fashion manufacturing base is coming from smaller, more unexpected sources. Mary Portas created a UK-made lingerie brand in an empty factory, providing jobs and skills for formerly unemployed workers; David Hieatt revitalized a small town's abandoned jeans factory with a new made-in-the-UK brand. The Guardian (London) (29 Jan.)

China on track to be H&M's biggest market
H&M's business in China is growing fast, and the country is on track to overtake Germany as the fast-fashion retailer's biggest market, said CEO Karl-Johan Persson. Bloomberg Businessweek (30 Jan.)

NRF News

Retail's BIG Show keynotes, presentations, sessions -- at your fingertips
If you weren't one of the 27,600 who attended Retail's BIG Show 2013 in New York -- or you couldn't make all the sessions you wanted to -- NRF has a solution. Three keynotes are available on demand for free, and select audio presentation packages are available via NRF Session Replay. There are also free presentation handouts provided by speakers. Read more.

SmartQuote

Never confuse a single defeat with a final defeat."

--F. Scott Fitzgerald,
American writer

Subscriber Tools

Print friendly format | Web version | Search past news | Archive | Privacy policy

Advertise

Associate Publisher: Dena Malouf 202-407-7837


	Recent NRF Global SmartBrief Issues: Thursday, 31 Jan 2013 Wednesday, 30 Jan 2013 Tuesday, 29 Jan 2013 Monday, 28 Jan 2013 Friday, 25 Jan 2013			Lead Editor: Liz DeHoff Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 USA