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28 February 2013
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Global retail industry news

  Global Industry Watch 
  • Target to expand space at some Canada stores
    Target plans to expand the floor space of 40 of its planned 124 stores that are set to start opening in Canada in the coming weeks, adding a total of 600,000 square feet to the former Zellers stores as part of its $1.5 billion Canada investment. The locations and leases of the Zellers stores were attractive, said CFO John Mulligan, but most were smaller than Target's typical stores and in need of renovation. The Globe and Mail (Toronto) (tiered subscription model) (27 Feb.) LinkedInFacebookTwitterEmail this Story
  • Sears Canada sees slow start in turnaround strategy
    Sears Canada saw apparel sales rise in the fourth quarter, but overall same-store sales fell 3.8% in the period as the retailer struggled to boost business one year into a three-year turnaround plan. "We are going to continue to evaluate our assets and make sure that we are maximizing those behind our trading strategy, and we are going to continue to evaluate our business model," said CEO Calvin McDonald. Financial Post (Canada) (27 Feb.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Tesco vows to source UK meat, warns prices may rise
    Tesco will source more more of its meat from producers in the UK after the recent discovery of horse meat in some beef products, and will source all fresh chickens sold in UK stores from domestic producers by July, the company said. The company has also promised to do DNA tests on all the meat it sells, a pricey change that may ultimately make meat more expensive for consumers, said CEO Philip Clarke. Reuters (27 Feb.), The Telegraph (London) (tiered subscription model) (27 Feb.) LinkedInFacebookTwitterEmail this Story
  • Report paints changed picture for UK high streets
    The closure of high-profile retail chains including Blockbuster, HMV and Jessops could cause high-street store closures in the UK to double to 28 per day this year, according to a report from PricewaterhouseCoopers and the Local Data Company. Card shops, computer game stores and health food stores closed the most locations, the report said, and payday loan outlets and pound shops are growing the fastest. The Guardian (London) (27 Feb.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Retail in Asia 
  • Wal-Mart looks to clarify India investment rules
    Wal-Mart executives said Wednesday that the company is working with officials in India to understand the complicated rules that govern direct investment by foreign retailers. The company hasn't yet formally applied for permission to open owned stores in India despite an announcement last fall that it expected to open its first locations in two years. The Wall Street Journal (27 Feb.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • Want a Nick Scali sofa in Australia? Get off the computer
    Rivals may be moving retail efforts online, but high-end furniture seller Nick Scali eschews e-commerce in favor of brick-and-mortar showrooms for the sofas that bring in about 80% of the company's revenue. Sales increased 17% in the most recent six-month period, and the brand has more than tripled its locations since 2004. (Australia) (27 Feb.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Consumer Electronics 
  • Chinese mobile makers may have global advantage
    Smartphones are growing increasingly important in developing countries as consumers seek to connect with the Internet, providing a potential advantage for Chinese manufacturers like Huawei and ZTE that can sell their phones at lower prices. "The Chinese companies can find enough volume in the Chinese market to sustain the volumes they need and the money they need to keep pushing internationally," said Ben Wood, chief of research at CCS Insight. Reuters (27 Feb.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • BIG Show keynotes, presentations and 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. LinkedInFacebookTwitterEmail this Story
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