May 22 – UK’s Marks & Spencer Reshapes Strategy after Annual Profit Decline of 10%
With a plan to open larger format food stores, shifting away from smaller convenience outlets and closing other outlets that also sell clothing and housewares, Marks & Spencer’s new approach shows a shift of strategy. From Bloomberg
May 22 – Spar International to Expand China Footprint
With more than 13,000 stores in 48 countries, Spar International launched 335 new stores in 2018 and entered 4 additional countries.
Spar is present in 7 Asia Pacific territories with 573 outlets, accounting for €1.96 billion in sales. The retailer has planned to open more than 150,000 square meters of retail sales space in China this year, adding to its current 830,043 square meters of space with sales of €1.5 billion in China. From Inside Retail Asia
May 21 – Edkea Group’s Edeka Südbayern Reports Positive 2018 Sales
The German retail cooperative, with 740 members, posted 3.1% growth in sales in the fiscal year 2018, to EUR 2.59 billion. From European Supermarket Magazine
May 20 – France’s Monoprix Introduces Line-Skip Throughout All Stores Throughout France
Groupe Casino’s Monoprix has introduced “Coupe-File” (line-skip) so that shoppers can use the retailer’s app, scan the barcodes of all products, pay by card previously linked to the app and generate a receipt at the “Coupe-File” kiosk before departing the store. Article written in French.From Monoprix
May 16 – Waitrose Aims to Triple Online Growth
After its partnership with Ocado ended, Waitrose has partnered with Today Development Partners and is targeting online growth equal to GBP 1 billion annually, triple its current online business. From The Guardian
May 15 – Alibaba-backed Bigbasket Enters Additional Market in India
Online grocer bigbasket, backed by online giant, Alibaba, is now available in Kochi, thus making its presence in 26 cities in India. Customers can access more than 22,000 products from more than 3000 brands through an app or online for home delivery. From The Hindu Business Line
May 15 – France’s Auchan to Exit Vietnam
With losses recorded for the 18 Auchan stores in Vietnam, Auchan has planned to sell their outlets in the country. This is part of the retailer’s strategy to review its loss-making markets. From Reuters
May 15 – Walmart Considers IPO for UK’s Asda
The discussion of IPO of Asda come on the heals of UK regulators’ decision to block the merger of Asda and Sainsbury. The anticipated value of Asda is estimated at GBP 8.5 billion. From Digital Commerce 360
May 15 – Alibaba Focuses on Home Products
With an investment of $633 million in convertible bonds of Red Star Macalline, Alibaba has made a considerable investment in home products goods. Red Star Macalline operates more than 250 stores across 29 of the 34 provinces and 177 cities in China in 2017. It carries 18,000 brands. From KrAsia
May 14 – UK’s Harrods Named Most Successful Luxury Retailer
With sales up 6.8% over 2017, Harrods sales reached GBP 2.1 billion in 2018. Data on the retailer was compiled by analysts at GlobalData indicating strongest performer by sales per square foot. From Retail Gazette
May 14 – Amazon Debuts Click & Collect in UK and Italy
In partnership with Next in the UK, Amazon will open 500 click & collect locations in the UK. In addition the online retailer has formed a similar partnership for click & collect transactions in Italy at Giunti bookstores and other brick and mortar stores. From Bloomburg
May 13 – Tesco UK to Reduce Product Selection by 20%
In an effort to regain ground from other discount retailers in the UK, Tesco announced that it is planning to remove 20% of products from its shelves. The retailer has indicated that these drastic reductions will impact assortments in the household departments. From Prolific London
May 13 – Australia’s Coles Plans Reformatting of Stores
To answer the demands of the rapidly growing convenience store market in Asia Pacific, Coles will convert approximately 200 of its current supermarkets to a more premium, convenience-focused format and add about 75 new product lines to the current range. From Inside Retail
May 13 – France’s Auchan Sells Hypermarkets in Italy to Conad
Auchan has sold 6 Auchan Retail Italia hypermarkets to Italian cooperative and supermarket, Conad. Conad ended 2018 with a turnover of 13.4 billion euros and holds 12.9% of the Italian market share. From European Supermarket Magazine
May 10 – Walmart Ceases Ecommerce in Brazil to Focus on Brick and Mortar
Walmart’s decision to stop ecommerce for its Walmart Brasil stores comes after years of efforts that have not paid off as anticipated. This decision comes before the launch of the Amazon.com fulfilment center in Brazil. From Reuters
May 10 – India’s Reliance Retail Buys Toy Store Chain
With 167 stores in 18 countries, Reliance’s acquisition of toy retailer, Hamleys, gives the brand far reach in India through Reliance’s e-commerce platform. From Business Today
May 10 – JD.com Stock Soars after Earning Forecast is Crushed
After posting stronger than anticipated Q1 earnings, JD.com’s stock was up more than 10% and revenue rose more than 20% for the year-period ending in March. From Barron’s
May 9 – Canadian Tire Posts Q1 Growth
The Canadian retailer has posted growth for the 20th consecutive quarter, with consolidated comparable sales up 6.1% in the first quarter. From Canadian Tire Corporation
May 9 – Philippine’s SM Retail Sees Q1 Growth
SM Retail has a total of 2,385 stores across multiple formats in the Philippines. In Q1, the retail portion of SM Investment Corp saw an increase of 5% in net income and revenue rose 13%. From PhilStar Global
May 9 – Australian Consumers’ Preferences Remains with Global Sites Despite investment in online growth from Australian retailers, data shows that 80% of the top-most-visited retail sites were dominated by international and domestic offers from US-based Ebay and Amazon. From Inside Retail
May 9 – JD.com Closes Australian Office
After 15 months of operations, JD.com has closed its office in Melbourne, indicating plans to integrate its Australian operations into its business in China. From Inside Retail
May 8 – Amazon China Launches Merchant Lending Program
After recently closing its China operation, Amazon has launched its Lending Referral Program. This program targets Chinese SMEs doing business through its platform with short-terms loans to help them expand their business and grow via Amazon’s portals. From CNBC.com
May 7 – Finland’s Kesko Acquires Wholesaler
Kesko has agreed to acquire the foodservice wholesaler, Heinon Tukku Oy from the family-owned company, Tukkuheino Oy. The acquisition allows an increase in Kesko’s offerings in the foodservice market. Heinon Tukku will complement the offerings at Kesko’s wholesale devision, Kespro, with 14 outlets throughout Finland which cater to HoReCa customers and consumers. From Kesko.fi
May 7 – Online Retailers Top List of Top 10 Companies in China
Ranking in first and tenth place of the top Chinese Companies Alibaba and JD.com respectively have earned spots on list of the 100 most valuable brands in China. For the first time Alibaba has topped the list of most valuable brands in China, recording annual growth of 59% to US$141 billion. From Inside Retails
May 6 – IKEA Opens First Store in Center of Paris
Marking its 34th outlet in France, IKEA’s new store in the La Madeleine’s 8th arrondissement will cater to customers looking for the ease of online furniture buying, while not traveling far from the city center to reach the retailer. IKEA plans to invest 400 million euros in France over the next three years. From Reuters
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.
