Retail and consumer goods industry news

The Argentine government has reached an agreement with the country's largest retailers to freeze prices for two months.  Freeze to last until 1 April Members of the United Supermarkets Association (ASU) have agreed to keep prices unchanged until 1 April, following a meeting with Argentina's domestic trade secretary, Guillermo Moreno.  The agreement has been backdated to take effect as o...

Booths, the upmarket retailer based predominantly in the North West of England is to revamp its wine department. Revamped own-label The retailer has signalled it is going to change the look and feel of its wine offer by adding tasting tables and new merchandising, whilst also revamping its own-label wine across its 28 stores. Booths is keen to keep the pressure on rivals Majestic Wine ...

The latest monthly release from the British Retail Consortium Retail Sales Monitor indicates that UK retail sales grew by 3% in January 2013, the highest level of growth since September 2012.  Like-for-like growth was 1.9%, the highest rate of uplift for 13 months.  While January 2012 presents something of a soft comparative, this year's performance was in spite of extensive disruption of normal s...

Temasek Holdings, an Asia investment firm headquartered in Singapore, plans to acquire a 26.1% stake in Matahari Putra Prima, a key player in Indonesia's consumer goods market. International spot light on Indonesia The deal is reported to be worth USD 300m, and is a vote in confidence both for Matahari's future growth potential, and that of the Indonesian retail market, which is being d...

Tesco is reported to be developing a new free online TV service using the Clubcard TV brand. Free TV and movie service According to The Grocer, Tesco has built a website that would give free  online access to thousands of TV shows and a regularly updated selection of movies. The website uses the caption "The home of free movies and TV for all the family" and will in future offer personalis...

Morrisons has acquired seven former Jessops stores for its growing M Local format 50 new stores this year The retailer has today announced it has acquired seven former Jessops stores from administrators which are expected to open under the M local banner.  Morrisons has reported its intention to open 50 new M Local stores this year, highlighting the strategic focus the retailer is placing on...

Reports in Kenya’s Business Daily suggest that locally-based Nakumatt is looking to sell a 25% stake to finance expansion in its home market and neighbouring countries. Investment to build on Nakumatt’s strong foundations The reports suggest that Nakumatt’s managing director Atul Shah will dilute his family’s stake in the business, which stands at 90%, by selling a 25% stake to either institu...

Costco's performance in Australia appears to be going from strength to strength, with revenue for the 53 weeks to 2 September 2012 more than doubling on the previous year and profits turning positive for the first time. Strong sales and profits In the retailers FY to 2 September 2012 Costco Australia saw revenues more than double to AU$609.5m and net profits reach AU$9.73m. The rapid incre...

Edeka has launched a baby food private label range, according to German press reports. Premium pricing for 30-strong range The SunSan range of 30 organic products has been introduced by Edeka's  regional operators Minden-Hannover and Südwest, according to Lebensmittel Zeitung.  They are priced at around one euro less than the leading baby food brand. Opportunities for suppliers to deve...

Sephora (part of LVMH's Select Retail division) is to open a flagship store in Shanghai. Sephora to open flagship store in China Sephora (part of LVMH's Select Retail division) is to open a flagship store in Shanghai. Further expansion expected The new flagship store will be in one of the most popular areas of Shanghai, at the junction of Nanjing Road and Maoming Road. With 1,500 ...