To follow is a brief review of retail news from around the world:
July 31 – Sodimac’s First Store Opens in Mexico
This first store in Mexico is located in the Municipality of Cuautitlán Izcalli, in the Metropolitan Zone of Mexico City. The 10,700 m2 store is part of an agreement formed by Falabella and Soriana in 2016 for the development of the home improvement chain and the Falabella/Soriana credit card. *This Article written in Spanish. From América Retail
July 17 – Hong Kong’s Sa Sa Announces 24.8 Percent Increase in Q1 Turnover
Cosmetics retailer Sa Sa International Holdings announced that the retail and wholesale turnover for the first quarter increased by 24.8 percent over the same period to HK$2.11 billion. Hong Kong retailers from many sectors have experienced strong, sustained growth in sales. The luxury sector is currently the leading the way in sales growth, led predominantly by tourists from mainland China. From The Standard
July 17 – Tesco – Carrefour Alliance will be Investigated by French Antitrust Authority
After Tesco and Carrefour have entered into a strategic partnership to share buying of own-brand products and other merchandise over a three year period, this investigation may result in the retailers being forced to change their agreement terms. From Retail Gazette
July 17 – France’s Casino Group Reports Strong Second Quarter Growth
Group sales were €8.916bn to the second quarter, ending in June. The positive growth has been attributed to the goal moving much of the group’s non-food offerings online, reducing hypermarkets and focusing efforts on the group’s premium retail format. From Financial Times
July 17 – Thailand’s Central Group Considers IPO for Retail Arm
One of Thailand’s largest conglomorates is considering an IPO as it works on restructuring its retail operations. Central, which is targeting sales of aprox. US$11.9 billion in 2018, receives almost 40 percent of revenue from its department store group. From Deal Street Asia
July 16 – Sweden’s Axfood Announced Strong Quarterly Results and Positive E-Commerce Performance
Axfood delivered strong quarterly results with consolidated net sales amounting to SEK12,221 million, an increase of 2.5% along with a increase of 11.9% in operating profits. From 4 Traders
July 16 – Carrefour Introduces Highspeed Checkouts at Its Atacadão Store in Brazil
This system will allow for checkouts to move four times faster than a manual checkout. The system is being tested at one store in São Paulo. From European Supermarket Magazine
July 13 – Casino’s Brazilian Retail Group, GPA, Posts Strong Quarterly Revenues
In spite of unfavorable market conditions in Brazil, GPA’s revenues climbed 10.4% over 2017 to BRL 11.775 bil (aprox. US$3 bil). These revenues were driven by growth in its Assai wholesale stores. From Reuters
July 11 – JD.com Targets Europe
JD.com is focusing efforts on the European markets, aiming after having opened an office in Paris, the Chinese online retailer announced that it is looking to open operations in Germany and the UK. The retailer also announced that they plan to open an office in Milan. The online retail giant is targeting Amazon’s territory, as Amazon is currently the market leader in Europe. From Retail Detail
July 11 – Walmart Wants to Sell Japanese Chain, Seiyu
Walmart is looking to sell its Japanese Seiya chain, with 340 outlets, estimated to be worth $2.7 billion to $4.5 billion. This is in line with Walmart’s recent retreat from lower-growth markets. From CNBC
July 10 – Southeast Asia’s Grab to Roll Out Grocery Delivery
Singapore-based Grab, a ride-share company, plans to launch GrabFresh, a grocery delivery service, which will debut in Jakarta, Indonesia. Grab will be partnering with Southeast Asia grocery delivery provider HappyFresh, which will use Grab’s network of drivers for its delivery service. After its launch, the concept will be taken to Grab’s markets in Thailand and Malaysia. From Engadget
July 9 – Alibaba Signs Deal with Siemens to Launch Digital Products in China
German engineering group, Siemens, has agreed with Alibaba to use the online retailer’s cloud infrastructure to roll out its digital operating system, MindSphere. Within their agreement, Siemens will launch products that connect hundreds of different manufacturing devices in China. From Reuters
July 6 – Carrefour Italia Introduces New Store Concepts
Two new stores with new formats were introduced by Carrefour in Italy. The retailer opened a non-food, discount store, next to one of their hypermarkets to offer discounts on products across all categories. In addition, the retailer opened a rural store which will carry regional and organic products that will tie to the community near Turin, Italy, where the rural store is located. From European Supermarket Magazine
July 6 – PriceSmart’s Sales Growth Continues
In spite of rising revenues, the retailer’s earnings dipped. with revenue rising even as earnings dipped. PriceSmart’s sales results were from a combination of an increased number of stores and stronger sales at existing stores, as well as improving currency rates in Colombia and higher memberships due to steady economic growth in the retailer’s Latin American, Caribbean, and Central American markets. From The Motley Fool
July 4 – Hudson Bay to Sell Half of European Business to Signa Holding
Hudson’s Bay has agreed to sell about half of its European business to Austria’s Signa Holding. This deal would unite Hudson Bay with department store, Karstadt. From Financial Post
The International Business Council is a special interest group of IHA members, dedicated to helping its membership market and sell their products internationally by sharing information, providing networking opportunities and offering programs to assist, support, and educate. Membership is free to all regular, IHA members – visit the IBC website to learn more.
