| Global retail industry news |  |
- Australia's retail sales fell unexpectedly in May
Retail sales in Australia declined 0.6% in May, surprising economists who predicted a small increase and making it more likely that the country's Reserve Bank will resist increasing interest rates when it meets today. "The Reserve Bank was expecting to see the economy regain momentum in the second quarter and there really is no sign of that happening at the moment," said economist Brian Redican. The Wall Street Journal (tiered subscription model) (04 Jul.)      
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 - Downturn doesn't dampen UK expansion plans for US chains
US retailers including Crate & Barrel, Marmot, American Eagle and Victoria's Secret are moving forward with plans to open stores in the UK, despite the downturn that has sent some retailers into administration. "London is a safe bet to begin expansion if you are an overseas retailer. It is seen as a stepping stone to Europe for the US retailers and vice versa for European retailers," said retail real estate expert Hugh Radford. The Independent (London) (03 Jul.)
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 - Wal-Mart and IKEA lead land-buying trend in China
Rising commercial rents in China have big retail chains including Wal-Mart and IKEA abandoning leasing in favor of buying land to build new stores. IKEA invested $1.2 billion to build 5.5 million square feet of new store space in China, and Wal-Mart began buying sites for the first time last year. Bloomberg (04 Jul.)
- Does Gap needs a new image in China?
 Gap's expansion plans in China are flagging largely because the US apparel chain's image falls into neither the luxury category that aspirational shoppers crave or the fast-fashion value niche that's helping Japan's Uniqlo thrive, writes China Market Research Group founder Shaun Rein. CNBC (04 Jul.)
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 - Australia's retailers eye changes as sales move online
Australia's retailers are used to charging more for the same goods as their peers in other countries to cover the costs of higher overhead, but the growth of online shopping offers consumers less-pricey options. Brick-and-mortar merchants are likely to make changes including turning stores into showrooms or becoming more like department stores that sell exclusive lines shoppers can't find anywhere else, this story says. The Sydney Morning Herald (Australia) (04 Jul.)
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 | Spotlight on Grocery |  | |
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- Tesco partners with Gome to further China mall expansion
Tesco has partnered with China's Gome Electrical Appliances as part of Tesco's push to expand its presence in China with development of Lifespace malls. Tesco, which currently operates five of the malls that are anchored by its grocery stores, said it will invest 53 billion yuan in the country, and the deal includes an opportunity for Gome to operate stores in future malls. China Daily (Beijing) (05 Jul.)
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- Top 100 US retailers virtually unchanged; Amazon, Apple gaining ground
The view from the top hasn't changed much, but America's largest retailers are keeping a watchful eye on two companies that continue to make significant advances on their coveted territory, according to the STORES Top 100 Retailers list, which ranks US retailers by domestic sales. According to the report, Wal-Mart, Kroger and Target continue to top the list, but companies like Amazon.com and Apple Stores are quickly gaining ground. Read more.
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