  | Global retail industry news |  |
- Tesco's new CEO Clarke says innovation is key
Phil Clarke, the new chief executive officer at Tesco, said that the retailing giant needs to innovate in order to improve its performance in its home market. UK-based Tesco met forecasts, but the retailer's rise in annual profit was driven by its Asian operations. "We can do better and we are taking action in key areas," Clarke said. Reuters (19 Apr.), Google/Agence France-Presse (19 Apr.), BBC (19 Apr.)       - South Africa's Pick n Pay expects challenges ahead
Pick n Pay Stores reported a drop in income for the six months through the end of February and noted that it expects six more months of challenges. The South African grocer has seen costs rise and has faced a pay strike. "We are probably going to have another difficult period, certainly in six months, possibly in 12 months," said CEO Nick Badminton. "We are disappointed about these results, there's no doubt." Bloomberg (18 Apr.)  | 8 of the world's top 10 brands build their business on Facebook with the Buddy Media Platform. What's your plan? Power Tools for Facebook. Register for demo |
 - Visitors to boost London retailers' revenue by £2 billion
Visitors from China, Russia, the United Arab Emirates and other foreign lands are expected to increase the takings of London retailers by roughly £2 billion this year. "Tourism is a key growth sector that can help drive the UK economy into better times," said Richard Dickinson, CEO at the New West End Company, which represents hundreds of retailers. Telegraph (London) (18 Apr.) - LVMH reports 17% surge in first-quarter sales
LVMH, the global luxury retailer, said first-quarter sales reached €5.25 million on increased growth in its stores in Europe, the US and Asia. "All business groups recorded double-digit organic revenue growth in the quarter," the firm said. LVMH plans to focus this year on the strength of its brand names. Google/Agence France-Presse (18 Apr.), BBC (19 Apr.)  | Discover what risks could be lurking in your vacant commercial property with Zurich's guide 'Empty building, full of risk: Protecting your vacant commercial properties'. Click here for your FREE download! |
 - Japan's Asahi sees increased demand for bicycles
The March 11 earthquake that hit northern Japan shut down Tokyo's subway system, prompting many residents to revisit the idea of bicycle travel. Increased demand for bicycles helped boost sales at Asahi. "I was in Tokyo when the earthquake hit, and everything stopped," said Asahi President Susumu Shimoda. "Trains stopped, buses were in chaos and cars were jammed. Within that, you could just see bicycles swimming through. Some of our stores stayed open until 4 a.m. to meet the surge in demand." Bloomberg (19 Apr.) - Gome signs distribution agreement with Japan's Sanyo
Gome, one of the largest electronics and home appliances retailers in China, has struck a deal with Sanyo, the Japanese home appliances brand. The companies plan to cooperate on product development, sales, marketing, after-sales services and other areas. Gome will become the exclusive Chinese distribution channel for Sanyo. ChinaRetailNews.com (19 Apr.)  | Instant Business Library
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  | Spotlight on Grocery |  | | | - Woolworths refuses to back down in price war with Coles
Michael Luscomb, chief executive officer at Woolworths, indicated that the Australian retailing giant will continue in its price war with rival Coles by saying he will not be the first to raise milk prices. "We've said it's unsustainable for a lot of the dairy farming community, and clearly they've had a reduction in their income, and if that is sustained their businesses will be under threat," Luscombe said. "But whatever happens, Woolworths will make sure that our customers get the same price as the cheapest in the marketplace ... we didn't take it down first, we're not going to take it up first." The Australian (19 Apr.), Bloomberg (18 Apr.) | NRF News | | | | - Tips for delivering a great mobile site experience
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