| Global retail industry news |  |
| Global Industry Watch |  |  |
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- Lululemon's contrarian strategy pays off
Christine Day, CEO of Canadian retailer Lululemon Athletica, went against the grain during the economic downturn, and her efforts appear to be paying off. Day went forward with merchandise expansion plans and invested in new technology to better track inventory. Lululemon, which focuses on high-end yoga wear, said recently it is boosting its profit target for the third quarter because of strong sales. The Globe and Mail (Toronto)
(27 Oct.)     
- Column: Marketers need to watch how efforts translate into results
Callcredit Information Group's Paul Kennedy says that as consumers continue to watch their spending and the market place becomes increasingly competitive, marketers need to be aware of whether and how their efforts are producing real, long-term results. "This is especially pertinent as more and more marketers are jumping on the digital and social media bandwagon, without necessarily understanding or asking the question if there will ever be a return on their investment of time, energy and money," Kennedy writes. The Retail Bulletin
(26 Oct.)
| Retail in Europe | | |
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- Krona collapse prompts McDonald's to shut restaurants in Iceland
Lyst ehf, the McDonald's franchise holder in Iceland, said the restaurants will close at the end of October after the deterioration of the krona has reduced profits. "We would have to raise our prices by 20% to get the margin needed on our products," said Lyst CEO Magnus Ogmundsson. "That would have sent a Big Mac to 780 kronur," which is about $6.36. Currently, a Big Mac costs 650 kronur. Bloomberg
(26 Oct.)
- Peacocks CEO discusses challenges of brand perception
When Richard Kirk took charge of Peacocks more than 10 years ago, the shop was known for selling large knickers to old women. "That was what we were up against," Kirk said. "That was the perception of the brand and had been for years, so there was a lot to do to change it." Throughout the past decade, Kirk has transformed Peacocks into a multimillion-pound business with hundreds of shops in the UK and 30 more foreign locations. BBC
(27 Oct.)
| Retail in Asia | | |
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- Thai retailers plan major marketing campaigns as year ends
Retailers in Thailand are attempting to spur spending during the peak retail season by allocating a considerable amount of their marketing budget to the end of the year. Thanapon Tangkananan, president of the Thai Retailers Association, said that barring any political unrest or other major issues, the country's retail sector should see 5% growth in the fourth quarter. The Nation
(26 Oct.)
- Ryohin Keikaku to boost presence of Muji stores in China
Ryohin Keikaku CEO Masaaki Kanai said the company plans to add 30 of its Muji stores, which sell everything from clothing to kitchenware, across China. At the launch of the fifth Muji store in Beijing, Kanai said the Chinese market has been profitable for the retailer. Muji has more than 330 stores in Japan and is continuing to open new locations, but Kanai predicted that China will become Muji's largest market over the next decade. ChinaRetailNews.com
(27 Oct.)
| E-commerce Spotlight | | |
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- Australian officials to review online retailers' policies
The Australian Competition and Consumer Commission plans to review the warranty and return policies of online retailers as concerns have arisen that some sites may misrepresent consumers' rights. "It appears many sites simply 'cut and paste' information from other sites on warranties and refunds without checking that the facts are correct," said ACCC Chairman Graeme Samuel. "Online traders be warned: the ACCC is reviewing sites and will be considering action if remedial work is not quickly undertaken." QBR.com.au (Australia)
(27 Oct.)
| Spotlight on Grocery | | |
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- Grocers battle over Scotland's wealthier consumers
Waitrose, which recently opened an outlet in Glasgow, is now building a store in Newton Mearns, which is just outside Glasgow and described as one of Scotland's wealthiest suburbs. The grocery retailer said Newton Mearns is "the perfect fit for the Waitrose brand." Meanwhile, the food shop division of John Lewis Partnership is looking for new locations in Scotland. The developments are setting up Scotland as a battleground for more affluent shoppers' pounds. The Herald (Glasgow, Scotland)
(27 Oct.)
| NRF News | | |
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| SmartQuote | | |
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 | He who is not courageous enough to take risks will accomplish nothing in life."
--Muhammad Ali,
American boxer and three-time world heavyweight champion
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