| Global retail industry news |  |
| Global Industry Watch |  |  |
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- Costco posts 1st profit in Australia
US warehouse chain Costco doubled revenue at its three Australia stores last year and booked its first profit since opening in the country four years ago. Now, the company plans to invest an additional A$50 million on expansion plans in the region. "I think there is a lot of opportunity for Costco here in Australia and we are thrilled and very satisfied to see that the business is growing," said Australia managing director Patrick Noone. The Sydney Morning Herald (Australia)
(30 Jan.)     
| Retail in Europe | | |
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- Tesco cuts ties with Irish meat processor
Tesco has severed its relationship with Irish meat processor Silvercrest and accused the company of committing a "great breach of trust" when it used meat from Poland that was found to contain horse meat. The supermarket chain's contract called for Silvercrest to use only meat from approved suppliers in the UK and Ireland to make Tesco's frozen beef burgers. The Telegraph (London) (tiered subscription model)
(30 Jan.)
- IKEA founder clarifies position on growth plans
IKEA founder Ingvar Kamprad said Tuesday that, while he believes the retailer's plan to open up to 25 new stores per year may be too ambitious, he's in agreement with management and the board on the goal to increase sales by 10% annually. Kamprad, who founded the Swedish furniture brand 70 years ago at age 17, made his comments to dispel Swedish media reports that hinted at deepening disagreements at the top of the company. The Wall Street Journal
(29 Jan.)
| Retail in Asia | | |
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- Designer brands play musical shops in Tokyo
Tokyo mixed-use complexes Roppongi Hills and Tokyo Midtown are renovating for spring, with each adding about 40 new high-end retail brands. Roppongi Hills, which turns 10 in April, will add designer names including Issa London, Alexander McQueen and Stella McCartney, and Tokyo Midtown will boast new brands such as Ron Herman, Valextra and Mackintosh Philosophy. Women's Wear Daily (subscription required)
(29 Jan.)
| E-commerce Spotlight | | |
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- The Hut acquires bike accessories site
Online retailer The Hut has acquired Probikekit, an online seller of bicycling clothing and accessories, for an undisclosed amount. The Hut, which counts Sir Stuart Rose and Sir Terry Leahy among its investors, operates 16 e-commerce sites including supplement seller Myprotein. The Independent (London)
(29 Jan.)
| Spotlight on Luxury Goods | | |
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- 'Absolute luxury' keeps Chanel selling out
Chanel's boutiques sold out of the winter line of dresses and quilted bags less than two months after debuting them in November, a reflection of the brand's strong global position even as some other luxury brands including Coach and Burberry saw slower sales growth. Chanel and Hermes, which also saw strong sales, reflect ongoing strength in the "absolute luxury" category, which Bain & Co. expects to grow the fastest until at least next year. Bloomberg Businessweek
(28 Jan.)
- Swarovski family shares in crystal fortunes
About 100 descendants of Daniel Swarovski share ownership of the world's leading cut crystal producer, launched 117 years ago in a tiny Alpine town where the founder would be able to keep his proprietary methods secret. Today, the brand and its 2,200 retail outlets are known around the globe, for both affordable luxuries and over-the-top creations like a $128,000 crystal toilet. Bloomberg
(25 Jan.)
| NRF News | | |
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- A year in review: NRF releases 2012 Annual Report
View a snapshot of NRF's successes within and on behalf of the retail industry by visiting NRF’s recently-released and fully-interactive Annual Report. The 2012 digital edition covers NRF's campaigns for smarter health care changes, sales tax fairness and advocating for retailers on swipe fees; telling the industry’s story on Capitol Hill and thought leadership in national and international media; as well as a glimpse into 2012 events, such as Retail's BIG Show and the Shop.org Summit. Explore our year.
| SmartQuote | | |
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 | Resentment is like taking poison and waiting for the other person to die."
--Malachy McCourt,
Irish-American actor, writer and politician
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