Global retailing news

20 July 2016
Philippine Seven Corporation, the operator of convenience store chain 7-Eleven, reports a 27.5% increase in sales for the first 6 months of the year, while its net income grows by 32.5%. Election spending boosts performance In a disclosure to the stock exchange, PSC revealed that retail sales of all stores went up by 27.2% to PHP15.5bn (US$328.9m), from PHP12.2bn (US$258.8m) a year ago, boo...
20 July 2016
Netherlands-based SPAR International has undertaken a further market entry, partnering with locally-based Max Group to open stores in Mongolia in 2017. SPAR’s entry in partnership with Max Group The SPAR brand will enter Mongolia as part of a partnership with the locally-based conglomerate Max Group. The two companies said that they envisage 60 SPAR-branded stores to be operational in the c...
20 July 2016
The world’s largest e-commerce platform Alibaba Group is growing its business in Australia, with plans to open its first office in the country at the end of this year. Melbourne office to serve both Australia and NZ New York-listed Alibaba has announced the planned opening of its new office in Melbourne, the capital of the Australian state of Victoria later this year, in order to better ser...
18 July 2016
Reliance Retail, one of India’s largest retailers, has reported a strong set of results for the first quarter in FY2016-2016. Robust growth in revenue and profit The revenues of Reliance Retail, including petroleum sales, have increased 45.8% to INR66.7bn (US$0.9bn) in Q1, compared to INR 45.7bn (US$0.68bn) in the same quarter last year. Meanwhile, its pre-tax profit has seen an uplift...
18 July 2016
Walgreens Boots Alliance will expand to South Korea after signing a franchise partnership with the country’s leading retailer Emart, who has obtained exclusive rights to open and manage Boots stores in South Korea. First store to open next year The first Boots store in South Korea is expected to open in the first half of 2017 and more stores will be added in shopping malls, on high streets ...
18 July 2016
In this update, we look at what happened at retailers across the region in the second quarter of 2016, including market entries & investment plans, new store concepts, online & digital, new technology, efficiency drives and legislation affecting retail. MARKET ENTRIES & INVESTMENT PLANS Lidl • Lithuania – The retailer has entered its 27th market, with 15 stores across nine towns and ci...
15 July 2016
Turkish retailer Migros has launched its ‘floating full-service store’ , a 40 metre yacht called ‘Migros Deniz Market’ (Migros Sea Market). Meeting the needs of coastal areas and other boats Operating over the summer, the yacht aims to meet the needs of customers in the coastal areas of Fethiye and Göcek between 09:00 and 17:00 and the Fethiye harbour between 19:00 and 22:00. ...
15 July 2016
Trent Hypermarket, Tesco's joint venture business in India has revealed an 8% increase in sales to INR849bn (US$127m) in FY15 -16. Growth in LFL sales and steady expansion Trent Hypermarket (THPL), the equally owned joint venture between the Tata Group and Tesco, sees its annual overall sales up 7.5%, largely driven by the strong 9% increase in like-for-like growth. This has helped the comp...
13 July 2016
Poundland has reached an agreement with South African group Steinhoff International to accept a cash offer of £597m. This move fits perfectly with Steinhoff's strategy as it aims to become a leading value and discount retailer within the markets that it serves. Who is Steinhoff? Steinhoff is an international group that manufactures, sources and retails furniture, household goods and g...
13 July 2016
Australian retail giant Coles has cut the prices of 145 of its private label lines, intensifying the competition with its rival Woolworths. Doubling products on “everyday low pricing” Prices of 145 Coles products, ranging from bakery wraps to cakes, sunscreen, shredded cheese and school lunch sandwich bags, will be reduced. They are among almost 1000 extra Coles brand items moved to a se...