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09 November 2012
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Global retail industry news

  Global Industry Watch 
  • South Africa's Foschini to grow in new markets
    Cape Town-based clothing and household goods retailer Foschini will open its first stores in Mozambique and Ghana in a growing push to expand outside of South Africa. The chain operates 1,920 stores and saw double-digit increases in both sales and profits in the six months ending Sept. 30. Bloomberg Businessweek (08 Nov.) LinkedInFacebookTwitterEmail this Story
  • Canadian Tire hopes for snow in the East
    Wintry weather and snow have already hit western Canada, conditions Canadian Tire hopes will move eastward to buoy sales of snow blowers and other seasonal items, after reporting a third-quarter drop in profits. The company refocused its attention on its core auto and retail businesses last year, moving away from other divisions including financial services and clothing sales at Mark's Work Wearhouse. Canadian Business (08 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Richemont CEO to retire amid strong profits
    Swiss luxury watch and jewelry company Compagnie Financiere Richemont reported a 53% rise in net profits for the past six months, and says it plans to stick to its growth strategy even as CEO Johann Rupert retires next year. "Mr. Rupert is a major shareholder, and he stays as chairman. He is the boss and remains the boss, he is the guide," said deputy CEO Richard Lepeu, who will share the chief duties with current Cartier brand chief Bernard Fornas. The Wall Street Journal (09 Nov.) LinkedInFacebookTwitterEmail this Story
  • Morrisons axes director amid sales slump
    UK grocery chain Morrisons fired commercial director Richard Hodgson after a disappointing drop in third-quarter sales which CEO Dalton Philips blamed on ineffective promotions that didn't help the brand stand out from its rivals. Hodgson came to the company in 2010 from Waitrose. The Guardian (London) (08 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Retail in Asia 
  • China's retailers, factories saw surprise rise in October
    Manufacturing and retail sales rose more than expected in China last month, even as inflation cooled to a 33-month low, welcome news for the country's ruling party as it prepares to hand the reins of power to the next generation. “The key question for investors is whether China’s economic growth has truly bottomed and is recovering,” and the “answer is firmly yes,” said Bank of America analyst Lu Ting. The Washington Post/The Associated Press (09 Nov.), Bloomberg (08 Nov.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • UK post to upgrade service as online retail rises
    The UK's Royal Mail Group will hire 1,000 new workers and invest about $120 million to improve its package delivery services in the face of rapidly growing e-commerce. Online retail is forecast to account for 12.4% of the UK's GDP by 2016, according to one report. Internet Retailer (08 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Spotlight on Fashion 
  • How H&M balances longevity and trends
    H&M has grown into the world's second largest apparel retailer, with 2,600 stores around the globe and a Sweden-based team of 150 designers and 100 buyers who put together the chain's fashion collections. The retailer launches two long-lead collections each year, with several sub-collections of trendier items popping up each season. Forbes (05 Nov.) LinkedInFacebookTwitterEmail this Story
  • Next-gen stylish men drive designer demand
    Designer brands for men are in growing demand at Selfridges in London, which boasts the biggest men's shoe department in the world and is adding straight-from-the-runway looks from more high-end brands including Christian Louboutin, Balenciaga and Givenchy. The fast growth of online content is making fashion more accessible to more men and driving the rise in demand, industry experts say. The Guardian (London) (05 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  NRF News 
  • An inside look at Retail's BIG Show '13
    This January will mark the 102th consecutive year that retailers from across the world will gather in New York City for retail's main event. To make Retail's BIG Show even bigger, NRF has assembled an all-star cast of keynotes, including Wal-Mart President and CEO Bill Simon and former Secretary General of the United Nations Kofi Annan, expanded the EXPO hall floor and added even more specialty programming. But that's just a small sample of how the BIG Show is growing and advancing with the industry. View the event preview. LinkedInFacebookTwitterEmail this Story
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