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26 November 2012
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Global retail industry news

  Global Industry Watch 
  • Canadian retailers get into Black Friday spirit
    Black Friday weekend kicked off a US holiday shopping frenzy that stretched north to Canada, where more retailers are getting promotional both in stores and online to capture seasonal spending. In 2011, Black Friday sales in Canada rose 8.5% and Cyber Monday sales increased 15.4%, according to KPMG. The Globe and Mail (Toronto) (tiered subscription model) (25 Nov.) LinkedInFacebookTwitterEmail this Story
  • Canadian shoppers take the money and run south: Canadian consumers are expected to spend about $5 billion of their holiday budgets at US retail outlets this season, spurred by lower prices and higher duty-free limits, according to Douglas Porter, deputy chief economist at the Bank of Montreal. Financial Post (Canada)/Bloomberg (23 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • House of Fraser may sell stake to Sports Direct
    Sports Direct International and its founder, Mike Ashley, are reportedly in talks to acquire an equity stake in the UK's House of Fraser department store chain. Ashley, the owner of Newcastle United Football Club, has been expanding Sports Direct's retail holdings in recent years, with the acquisition of majority stakes in fashion chains USC, Cruise and Flannels. The Telegraph (London) (tiered subscription model) (26 Nov.) LinkedInFacebookTwitterEmail this Story
  • Report: Ireland needs to do more to keep spending at home
    Economic development group Retail Ireland is pushing the government to ease the way for retailers to recover from the downturn, saying retail sales have declined about 30% since 2008. Holiday sales are on track to increase, but much of that growth could come online -- Visa Europe forecasts that Irish consumers will spend a record €420 million on online holiday shopping this year. Irish Examiner (26 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Asia 
  • Wal-Mart announces bribery investigation in India
    Wal-Mart India suspended an undisclosed number of unnamed employees last week as part of an investigation into possible violations of the US Foreign Corrupt Practices Act, the company said Friday. The probe may further fuel opponents of new rules that would let multi-brand foreign retailers like Wal-Mart establish their own retail stores in the country for the first time. The Wall Street Journal (23 Nov.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • More UK merchants go online to find their fortunes
    Small merchants that once needed a high street storefront to be in business now need only launch a presence on eBay, which has helped some 300 sellers gain millionaire status, according to eBay UK head Claire Gilmartin. High streets stores are feeling the pinch as it becomes easier for retailers of all sizes to make a living online. The Telegraph (London) (tiered subscription model) (25 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Spotlight on Mass Merchandise 
  • Leaders push for US/EU trade agreement
    European leaders renewed their calls for a free-trade agreement between Europe and the US within hours of President Barack Obama's re-election. The US and EU, already each other's largest overseas trading partners, may finally be on a path to hammering out an agreement similar to NAFTA that would spur additional trade growth, business and government leaders say. The New York Times (tiered subscription model) (25 Nov.) LinkedInFacebookTwitterEmail this Story
  • Aga aims to heat up sales in China
    Iconic British oven brand Aga Rangemaster has partnered with kitchenware supplier Vatti to start selling its cookers in China next year. “The answer to the question of whether you can cook Chinese food effectively with our products is, quite excitingly, yes," said CEO William McGrath. The Telegraph (London) (tiered subscription model) (25 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  NRF News 
  • Wal-Mart U.S. CEO to discuss retail's role in America's economic revival
    Being a retailer today means leading on the big issues that matter to our customers and our communities. At Retail’s BIG Show in January, Wal-Mart U.S. CEO Bill Simon will discuss how Wal-Mart recharged its business model and make the case that our industry's leadership is needed now more than ever on issues such as the economy and job creation. Learn more. LinkedInFacebookTwitterEmail this Story
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