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25 August 2011
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Global retail industry news

  Global Industry Watch 
  • South Africa's Massmart reports increase in full-year profit
    Massmart Holdings is more optimistic about the outlook for the rest of 2011 after it posted a 10.3% jump in profit. The retailer also said it is confident issues related to Wal-Mart Stores' takeover will be resolved. "The group's legal teams are confident about the merged entities' strong legal position," Massmart CEO Grant Pattison said. MarketWatch (25 Aug.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Ahold faces challenges as cost of food keeps rising
    Ahold, the Dutch grocer that makes much of its sales in the US, is struggling to pass on higher food costs to consumers and is expected to report a quarterly profit decline of about 11%. Ahold, which has nearly 3,000 stores in 12 countries, is not alone as cash-strapped shoppers make it difficult for retailers to pass on rising costs. Reuters (25 Aug.) LinkedInFacebookTwitterEmail this Story
  • Germany's Henkel sells off hundreds of brands, CEO says
    Kasper Rorsted, CEO of Henkel, said that the German firm has been and will continue shedding hundreds of brands as it concentrates on its leading labels. "We've shed 600 brands in the last three years," Rorsted said. "We probably have another 100 or 200 to go." Meanwhile, Dusseldorf-based Henkel is expanding in China. Bloomberg (25 Aug.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Retail in Asia 
  • China's retail market heats up as rest of world cools down
    Much of the global economy is facing significant headwinds, but China's retail market is defying the trend. The country's retail industry is growing with combined sales up 20% on a year-on-year basis as of June 17, according to Kantar Worldpanel. International retailers are striving to tap into the growing market, particularly as their domestic markets stagnate. China Daily (Beijing) (25 Aug.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • Chinese consumers sue Dangdang over canceled orders
    Consumers in China have filed eight lawsuits against online retailer Dangdang, claiming the company canceled their orders for books bought at deeply discounted prices during a promotional sale. The company told shoppers their orders were canceled because of data entry errors, the same reason it gave for canceling sales during two earlier promotions. Reuters (23 Aug.) LinkedInFacebookTwitterEmail this Story
  • Taobao bans sales of anti-censorship software
    Chinese online retailer Taobao has banned sales of software designed to bypass the government's Internet censorship. The company says the move was voluntary and not the result of an official order by the government, which is tightening censorship efforts as it works to avoid a Middle East-style protest movement. ABC News/The Associated Press (23 Aug.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Consumer Electronics 
  NRF News 
  • 5 secrets to recovering lost spend
    From increasing competition and inconsistent consumer spending to rising merchandise costs and high employee turnover, retailers face considerable challenges to achieving profitability. Join executives from The Container Store, Paystream Advisors and Coupa Software today at 2 p.m. for a STORES Knowledge Series webinar that will focus on five internal opportunities to cut costs and achieve efficiencies that will deliver savings straight to the bottom line. Learn more. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The idea is not to block every shot. The idea is to make your opponent believe that you might block every shot."
--Bill Russell,
American basketball player


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