| Global retail industry news |  |
| Global Industry Watch |  |  |
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| Retail in Europe | | |
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- Tesco likely to quit the US, focus closer to home
Tesco is exploring options for its US-based Fresh & Easy chain, and will likely exit the business entirely and focus resources on reviving the retailer's UK business, CEO Phil Clarke said Wednesday. Fresh & Easy hasn't turned a profit since its 2007 launch, and Tim Mason, the executive who runs the operation, will leave Tesco after 30 years. Bloomberg
(05 Dec.), The Guardian (London)
(05 Dec.)     
- Morrison, Tesco cut prices on Christmas dinner
UK supermarket chains Wm. Morrison and Tesco are getting promotional with Christmas dinner, cutting prices on key items including turkeys, veggies, potatoes and pie, as they aim to make the best of what promises to be a leaner holiday season. British households expect to spend about 8.5% less on food than they did in the week leading up to the holiday last year, according to a YouGov poll. Bloomberg
(05 Dec.)
| Retail in Asia | | |
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- India's lower house approves FDI changes
The lower house of India's parliament approved the government's changes allowing foreign multi-brand retailers to own 51% of their operations in India. Wednesday's vote was symbolic as the measure doesn't require parliament's approval, but a "no" vote would have proved embarrassing for Prime Minister Manmohan Singh and hindered future pro-business reform efforts. The Wall Street Journal
(05 Dec.)
| Retail in Latin America | | |
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| E-commerce Spotlight | | |
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- Google teams up to promote online shopping in India
 Google India has partnered with several online retailers and marketplaces including Flipkart and Snapdeal to promote a day of online shopping on Dec. 12 that mirrors Cyber Monday in the US, with many offering deals for first-time shoppers. "The online shopping industry is already over $1.5 billion and with this initiative, we want to reach out and promote online shopping to the first-time buyers," said Google India executive Rajan Anandan. The Times of India/Press Trust of India
(05 Dec.)
- Canada's online retailers gear up for Free Shipping Day
Some 142 merchants have signed onto Canada's second Free Shipping Day on Dec. 12, with many cutting shipping fees altogether and others lowering their minimum orders. About 2,600 merchants now participate in the US version of the day, but retailers say it's tougher in Canada where logistics are more complicated and shipping costs are higher. Financial Post (Canada)
(05 Dec.)
| Spotlight on Consumer Electronics | | |
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- Bang & Olufsen looks beyond Europe
High-end Danish sound-system brand Bang & Olufsen has seen annual sales slow along with Europe's economy during the past five years. The company aims to reverse that trend and speed up growth with an expanded push to win customers in China and the US, says CEO Tue Mantoni. The Telegraph (London) (tiered subscription model)
(02 Dec.)
- Canon aims to triple sales in China
Japan-based Canon is increasing its presence in China and aims to increase annual sales there from $3 billion to $10 billion in the next five years. The push comes despite challenges including a slowing of China's economy, some lingering anti-Japan sentiment and the explosion of camera-equipped smartphones that have many putting down their point-and-shoot cameras. The Wall Street Journal
(05 Dec.)
| NRF News | | |
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- NRF welcomes end of port strike
With assistance from intermediaries, parties at the Ports of Los Angeles and Long Beach negotiated a settlement this week to bring an end to the week-long strike. Now that the nation’s largest port facility is now reopened, the focus turns to ports along the East and Gulf Coast for a resolution to come before the end of the month. "Retailers, manufacturers and the rest of the business community cannot afford another shutdown," NRF CEO Matthew Shay said. "Our economy cannot withstand another port disruption." Read more.
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