  | Global retail industry news |  |
| Global Industry Watch |  |  | | - Shoppers Drug close to naming successor to former CEO Schreiber
Jurgen Schreiber unexpectedly stepped down from his post as CEO of Shoppers Drug Mart in February. The retailer said it is now close to naming a new CEO. "We are, I would say, in the latter stages of that search," said David Williams, Shoppers' chairman and interim CEO. "There are some excellent candidates that have been identified. We're in the final stages of those interviews, plus the internal candidates will be reviewed next week. ... You're looking at some time in the summer." The Globe and Mail (Toronto) (27 Apr.), The Toronto Star/The Canadian Press (27 Apr.)      - Jimmy Choo reportedly considers IPO in Hong Kong
Jimmy Choo is considering launching a $1.08 billion initial public offering in Hong Kong, according to a report in the Financial Times. TowerBrook Capital Partners, which owns Jimmy Choo, is trying to stimulate competition among suitors aiming for control of the brand. Reuters (28 Apr.) | Retail in Europe | | | | - UK's discount retailers thrive as austerity rules
Britain's discount retailers, including ALDI, Lidl and Primark, are enjoying a return of bargain hunting. "It really feels like shoppers have come out for Easter and we have returned to the sales growth of previous years," said George Weston, CEO of Primark's owner, Associated British Foods. "We outperformed the bulk of the high street in the difficult times and we are outperforming them again." The Independent (London) (28 Apr.) - Game Group looks to online expansion, second-hand goods
Game Group, the UK video games retailer, said it expects to deal with weak consumer spending by expanding online and into second-hand products. Ian Shepherd, CEO at Game, said the company is seeing early indication that the strategy is working. "I expect the market will improve over the balance of the year ... and that our outperformance of that market will widen as we deliver on our strategy," Shepherd said. Reuters (27 Apr.), Telegraph (London) (27 Apr.), The Guardian (London) (27 Apr.) - PPR reports 9.1% jump in first-quarter sales
Increased demand for luxury goods helped French retailer PPR exceed expectations to post a 9.1% surge in quarterly sales. The firm's luxury brands saw a 26% increase in sales, said Jean-Francois Palus, chief financial officer at PPR. The luxury goods firm has not been immune to the trouble in Japan, however, reporting flat luxury sales there. Reuters (27 Apr.), Bloomberg (27 Apr.) | Retail in Asia | | | | - Fast Retailing to offer low-priced brand beyond Japan
Fast Retailing is striving to increase international sales. As part of that effort, the company plans to offer its low-priced g.u. brand overseas. Fast Retailing plans to launch roughly 50 g.u. outlets annually over the next few years, according to CEO Tadashi Yanai. Bloomberg (28 Apr.) - Brazil's Luiza plans to raise 1.43 billion reais via IPO
Magazine Luiza, an electronics and furniture retailer based in Brazil, has become the latest in the country to float. Luiza is aiming to raise up to 1.43 billion reais, or about $911 million, through an initial public offering. "Retail companies have benefited not only from credit expansion, but also from a stronger tendency of Brazilians to consume," said Joao Pedro Brugger of Leme Investimentos in Florianopolis, Brazil. "It turns out that one thing leads to the other, and this sector really stood out in terms of the number of IPOs." Bloomberg (27 Apr.)  | SPRING OFFER- save 15% on 'The Plastic Packaging Market Outlook in Food and Drinks' by Business Insights. This 2011 report includes market dynamics, drivers, resistors and trends in the plastic packaging market for food and drinks. Hurry though- limited time only! Details. |
 | E-commerce Spotlight | | | | - UK mobile retail search traffic up 181% in first quarter
In the first quarter of this year, mobile retail search traffic in Britain surged 181%, according to the new Online Retail Monitor from the British Retail Consortium and Google. "The star performer is mobile," said Stephen Robertson, director general of the BRC. "The rise of mobile use to one in ten searches sends a valuable message to any forward-thinking retailer that doesn't yet have an m-commerce platform." BizReport (28 Apr.) | Spotlight on Consumer Electronics | | | | | NRF News | | | |
| SmartQuote | | | |  | If you can give your son or daughter only one gift, let it be enthusiasm."
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