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12 November 2012
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Global retail industry news

  Global Industry Watch 
  • Leon's Furniture to pay $700 million for the Brick
    Toronto-based Leon's Furniture will acquire Edmonton-based rival chain the Brick in a deal valued at about $700 million and aimed at strengthening both brands as the housing market drives slower demand and new competitors including Target prepare to enter the market. “It’s a brutally competitive landscape and more competition is arriving. I just see this as a natural progression," said retail real estate broker Michael Kehoe. The Globe and Mail (Toronto) (tiered subscription model) (11 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Investment group buys UK Pizza Hut restaurants
    US restaurant company Yum! Brands sold its 330 UK Pizza Hut restaurants to Rutland Partners, an investment group that will run the eateries under a franchise agreement. Rutland will invest a total of £60 million to renovate the restaurants using one of 10 new store formats. The Guardian (London) (09 Nov.) LinkedInFacebookTwitterEmail this Story
  • London looks attractive to US fashion chains
    US fashion retailers including Abercrombie & Fitch, Gap and J.Crew are looking to increase their presence in London, an international shopping mecca that provides easy access to other European markets, according to Morgan Stanley. A new report identifies 10 US retailers looking to expand in London; combined, they have 6,000 US stores, $24 billion in sales and the potential to own about 6.5% of the UK fashion market in five years. The Wall Street Journal (11 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Asia 
  • Thailand distributor teams to open Payless stores
    Fashion distributor Central Marketing Group has signed a five-year license to open and operate Payless ShoeSource stores in Thailand and Vietnam. The company also distributes footwear brands Hush Puppies, Cushe and Feiyue, and plans to add two more shoe brands in the future. Bangkok Post (Thailand) (11 Nov.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • China's online retailers celebrate Singles Day
    Sunday was Singles Day, created by Chinese college students in the 1990s for single people as an alternative to Valentine's Day. The day has become a major gift-giving occasion and a boon for online retailers including Alibaba Group's Tmall and Taobao, which took in about $3 billion in sales on Sunday, more than double what US online retailers booked on Cyber Monday last year. (Hackensack, N.J.)/The Associated Press (free registration) (11 Nov.) LinkedInFacebookTwitterEmail this Story
  • Amazon UK says hacked data doesn't come from its site
    A hacker has posted personal data including e-mail and home addresses for 635 people online, claiming it came from Amazon UK's site, but the company says the data didn't come from its systems. "There has been no compromise of Amazon's systems, and this is not information from our database," a spokesman said. ZDNet (11 Nov.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Spotlight on Mass Merchandise 
  • Can China keep more of its big spenders shopping at home?
    Taxes and tariffs make luxury goods more expensive in China than many other markets, driving the country's wealthy to make their high-end purchases outside the country. Tweaking the tariff and tax policies to encourage more imports would likely keep more of that spending at home and eventually drive greater consumption of domestic products as well, some experts say. China Daily (Beijing) (11 Nov.) LinkedInFacebookTwitterEmail this Story
  • Slower factory orders drive wider trade deficit for India
    Industrial production fell unexpectedly in India last month, capping nearly a year of softer demand for goods both at home and abroad, according to the Central Statistical Office. Exports fell 1.6% in October, while imports rose 7.4%, a widening of the country's trade deficit driven largely by a rise in oil and gold imports. Bloomberg (12 Nov.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • App or mobile site? A retailer's definitive guide to m-commerce success
    A key driver of mobile shopping is convenience and ease of use, and there is no better way to achieve this than a well-executed mobile strategy. In an addition to the NRF Retail Reference Center, mobile solutions provider 5th Finger explains the mobile purchase process for consumers and dissects how some of the world's leading retailers such as Wal-Mart, Home Depot and Gap are leading the pack in this space. Download the white paper. LinkedInFacebookTwitterEmail this Story
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British poet, satirist, lawyer and cleric

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