| Global retail industry news |  |
| Global Industry Watch |  |  |
|
- Germany's Metro sees "huge potential" in Kazakhstan
Metro, the fourth-largest retailer in the world, said it plans to open as many as 15 stores in Kazakhstan, investing between $15 million and $20 million each. The German company has opened its first Metro Cash & Carry wholesale outlet in Astana, the capital of Kazakhstan. Metro also said it is looking to open 10 malls and more than 10 wholesale outlets in Egypt. Forbes/Reuters
(27 Oct.)     
- Analysis: Large specialty stores continue to succeed in Australia
The annual survey by Urbis, an advisory firm based in Melbourne, shows that large-format specialty stores, such as JB Hi Fi and Rebel Sport, are outperforming small niche shops as well as anchor stores. The survey also shows that sub-regional shopping centres are outperforming regional centres, despite the image that the sub-regionals are less glamorous. Regional centres generally offer more luxury fashion brands than sub-regionals. The Sydney Morning Herald (Australia)
(28 Oct.)
| Retail in Europe | | |
|
- Private-equity firms battle over Matalan
CVC, TPG, Cinven and other private-equity firms are battling to make the shortlist of potential buyers for Matalan, a UK-based retailer majority-owned by founder John Hargreaves. Matalan could fetch as much as £1.5 billion, sources said. The discount retailer has asked PWC to look into a possible sale, but a formal process has not been launched. Reuters
(28 Oct.)
- Sales growth allows Carpetright to double dividend
Carpetright, the largest flooring retailer in the UK, said it expects to more than double its full-year dividend next year as the company has experienced renewed sales growth. The collapse of Allied Carpets and improving housing market conditions have helped the retailer bolster sales. "I think [Carpetright's] over the worst. I've been through six, seven of these downturns and we're always first in, first out," said Lord Harris of Peckham, CEO and chairman of Carpetright. Financial Times (tiered subscription model)
(29 Oct.)
| Retail in Asia | | |
|
| Retail in Latin America | | |
|
- Mexico's Comerci reports third-quarter profit
Comercial Mexicana, one of the largest retailers in Mexico, said it earned 137 million pesos or roughly $10 million in the third quarter. The same period the previous year, Comerci reported a loss of 3.79 billion pesos. The depreciation of the peso late last year hit the retailer hard, causing its derivatives bets to go bad. Reuters
(28 Oct.)
| E-commerce Spotlight | | |
|
- Taobao teams up with China Mobile for price-comparison service
Alibaba's online shopping subsidiary Taobao.com will work with China Mobile to offer mobile phone users the ability to compare prices while shopping in traditional stores with those on the Taobao site. Consumers will send short messages about specific products, and a reply will show the price range of the goods on Taobao.com. ChinaRetailNews.com
(29 Oct.)
- Malaysian fashion group partners with eBay
The Malaysian International Fashion Alliance is collaborating with eBay on a microsite featuring the country's established designers. Shoppers can visit the site and check out the latest designs from Eric Choong, Tangoo, William Liew and other Malaysian designers. EBay Malaysia has been striving to develop partnerships with leading industry participants to broaden e-commerce benefits in the country. Star Publications (Malaysia)
(29 Oct.)
| Spotlight on Consumer Electronics | | |
|
- Best Buy moves closer to entering UK
Best Buy has launched a recruitment drive to attract thousands of workers in Britain, moving the US-based consumer-electronics giant closer to entering the UK. "We are really pleased to begin the recruitment drive for our first stores and are looking forward to meeting the talented individuals we hope will apply for the thousands of opportunities we plan to create across the UK," said Paul Antoniadis, CEO of branded operations at Best Buy. The company has found the process more difficult than expected. Its first UK stores will open in Southampton and Thurrock in the spring, months later than originally planned. The Times (London) (subscription required)
(29 Oct.)
| NRF News | | |
|
| SmartQuote | | |
|
 | A mind troubled by doubt cannot focus on the course to victory."
|
| |
|
