  | Global retail industry news |  |
- South Africa's Massmart reports 12.7% increase in sales
Massmart, a general retailer in South Africa, posted a 12.7% jump in total sales for the 44 weeks to May 1. However, the retail giant noted that softer sales prompt caution. "The softer sales growth over Christmas, and in the eight weeks since then, suggest that the South African economy may not yet be in a sustainable recovery," Massmart said. Business Day (South Africa) (10 May.)       - David Jones, Myer sales fall, but hints of improvement seen
Australia's two leading department store chains, David Jones and Myer Holdings, saw their third-quarter sales decline. However, executives at the retailers also noted a pick-up in April sales. "There was a moderate and steady improvement in sales as the third quarter progressed, and we had a pleasing mid-season sale, which was ahead of last year," said Myer CEO Bernie Brookes. Reuters (11 May.), The Herald Sun (Melbourne, Australia) (11 May.), Business Spectator (Australia) (11 May.) - Canada's Rona seeks warm temperatures to spur sales
Rona saw a weak start to 2011 as consumers reined in spending, prompting the home renovations retailer to curb its plans to expand. Robert Dutton, chief executive officer at Rona, said the company is looking forward to warmer weather. "The big gardening weekend will take place on the weekend of the Patriots Day (Victoria Day) and we will be there to respond to the demands of the consumers," he said. Google/The Canadian Press (10 May.)  | What is the future of social media?
Find out how social media is spreading into many digital touchpoints and changing lifestyles, businesses and how we interact with each other from the Altimeter Group's Jeremiah Owyang. Register today for the 2011 Social Media Success Summit to learn more about social media and how to make it work for your business. The event starts May 3rd, register today! |
 | Retail in Europe |  | | | - Clarke offers more ambitious strategy for Tesco
Commentators have said that Phil Clarke is a carbon copy of the man he succeeded as CEO of Tesco, Terry Leahy. Clarke is proving that stance to be inaccurate, however, as he launches an ambitious strategy for the retailing giant. The new direction includes the development of new global brands. Reuters (10 May.), Bloomberg (10 May.) - Sale of Slovenian retailer Mercator likely
The owners of Mercator Poslovni Sistem likely will try to sell the retailer this year, according to Slovenian Finance Minister Franc Krizanic. He was quoted in the Delo newspaper cautioning Pivovarna Lasko Group and other owners of the Slovenian retailer about the sale. "Owners should also bear in mind that Mercator is an important network company that a lot of agriculture and food companies in Slovenia depend on," Krizanic said. Bloomberg (10 May.)   | Retail in Asia | | | | - Retailers flock to Hong Kong to reach mainland Chinese shoppers
Hong Kong has earned a reputation as one of the leading luxury-shopping cities in the world, but now a number of mass-market retailers are making their way there in an effort to tap into customers from mainland China. First came the European brands and now a number of American retailers are entering or trying to enter Hong Kong. "The Europeans trailblazed first," said Nick Bradstreet, head of leasing at Savills. "Europeans are more comfortable crossing borders than Americans are. For a German company going to Spain, it's not a big deal. But in the U.S., the domestic market is so big. They haven't always had to go overseas to grow." The Wall Street Journal (tiered subscription model) (10 May.) - Taiwan's Rt-Mart aims to launch IPO in Hong Kong
Rt-Mart, the supermarket retailer based in Taiwan, is aiming to list on the Hong Kong exchange this year. The company aims to raise as much as $1 billion and plans to use the proceeds from the IPO sale to fund its store expansion plan. Rt-Mart has already opened several new stores so far this year. ChinaRetailNews.com (10 May.) - Germany's Otto Group sees surge in e-commerce
Germany-based Otto Group, a retail conglomerate with ownership stakes in roughly 100 online retail brands, said e-commerce grew most rapidly among its sales channels in fiscal 2011. Online sales surged 24.4% year over year to €4.8 billion. "E-commerce has become the most important sales channel for the group," said Hans-Otto Schrader, chief executive officer at Otto Group. "We moved into online retailing at an early stage and are now benefiting in all of our business areas from the strong expansion of e-commerce." InternetRetailer.com (10 May.)  | Help protect your employees by managing business travel risks with Zurich's white paper 'Managing the Risks of Business Travel: What every business needs to know'. Click here for the FREE download! |
 | Spotlight on Luxury Goods | | | | | NRF News | | | | - The data you need to expand internationally
Retailers considering international expansion have a wealth of statistical information right at their fingertips with FIRAE's industry data page. The industry data, sorted by country, provides economic statistics from retail environments worldwide. Researching new economic frontiers is only a click away! Learn more.
| SmartQuote | | | |  | If there is no struggle, there is no progress."
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