| Global retail industry news |  |
| Global Industry Watch |  |  | | - Prada plans to open 90 stores, make decision about IPO
Italian fashion company Prada may hold an initial public offering, sources said. The company has canceled four IPOs in the past 11 years. Prada, which also owns Car Shoe, Miu Miu and other brands, is looking to open roughly 90 stores this year, a spokesman said. The company is poised to report full-year sales of nearly €2 billion for the fiscal year that ends Jan. 31. Bloomberg (21 Jan.)      - Investors are keen to know what Kathmandu will do with UK operations
Kathmandu, the outdoor adventurewear retailer based in Australia and New Zealand, is poised to report results in March. Investors are expected to be interested in what Kathmandu CEO Peter Halkett will say about the company's UK operations, which involve six stores. "[The future of the British stores] is not a prime topic for us at the moment ... basically it's in a holding pattern and we are satisfied to leave it there until we are ready to turn our attention to it," Halkett recently said. The Sydney Morning Herald (Australia) (24 Jan.) - Reiss expects UK store earnings to surge, exec says
Steven Downes, finance director at Reiss, said the fashion retailer expects to post a 40% increase in earnings in the current financial year that ends soon. Downes said that changes it made in 2009 helped the privately owned retailer. "The focus shifted from store rollout to investment in management, infrastructure and brand, with the aim of ensuring that Reiss would continue to operate efficiently whilst differentiating itself from the other high street retailers," according to a report from the company. Telegraph (London) (23 Jan.) - Mulberry enjoys bumper Christmas season
Mulberry's sales over the holiday period are another indication that the luxury-goods market is rebounding. The company, best known for leather handbags, reported a 66% surge in own-store sales in the six weeks to Jan. 15. The results prompted Mulberry to bolster its annual profit forecast. The Guardian (London) (21 Jan.)  | Xerox® ColorQube® solid ink printers, starting at $699.
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 - 7-Eleven plans to open hundreds of stores in Chengdu, China
Chengdu, the capital of China's Sichuan province, is about to become home to the first two of about 350 new 7-Eleven stores. The convenience store chain plans to open two outlets in March, another 15 during the next three months, 50 within a year and 350 during the next five years. The 7-Eleven stores will be located in Chengdu's five main districts and its high-tech area. ChinaRetailNews.com (24 Jan.)  | 23 pros & big brand practitioners on mastering business blogging
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 - Social commerce presents opportunities, prompts complaints
An increasing number of Internet users are utilizing "social commerce" sites such as Groupon, which allow users to purchase products, services or coupons at steeply discounted prices when a certain number of people sign on for the offer. Such crowdsourced shopping is reshaping online retailing for consumers and retailers. However, shoppers are also lodging complaints about the quality of the products and services, return policies and other issues. JoongAng Daily (South Korea) (24 Jan.) - Securities lawyers say Dangdang does not have basis for a lawsuit
Dangdang CEO Li Guoqing is upset with Morgan Stanley over the pricing of the Chinese Internet retailer's initial public offering. However, securities lawyers say that he does not have any grounds for a lawsuit. "There is zero legal standing for a company that underwent a public offering to sue its underwriters strictly for price," said Gregg Berman, a partner at Fulbright & Jaworski. "Nobody held a gun to the company's head to sign the underwriting agreements." Reuters (21 Jan.)  | Private Label Food and Non-Alcoholic Drink Trends explores the consumer, product and market trends in food and non-alcoholic beverage private label brand purchases. Click here now to find out more. |
 | Spotlight on Mass Merchandise | | | | - "Supertax" on major retailers could violate EU law, expert says
Charles Livingston, an associate at Brodies, said that Scotland's Large Retailers Levy could violate EU law. The "supertax" would raise business rates for Scotland's most expensive properties. Livingston said the levy could be considered "state aid" for small firms. "The EU does not allow governments to play favourites with participants in a competitive market," Livingston said. "There is a ban on what is known as state aid, the state favouring one business or group of businesses over their competitors." Google/The Press Association (U.K.) (23 Jan.) | NRF News | | | | - Analytics trend spotting helps Chico's connect staff retention to sales
In a recent video post on Retail's BIG Blog, Jeff Jones, EVP and COO of Chico's FAS, shares how the company's comprehensive analysis of collected data has resulted in a clearer view of their customer -- including which store she shops at and which sales associate she trusts. Watch the video.
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