Founder of Inditex Ortega steps down as chairman

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20 July 2011 Sign up Forward Archive Advertise Global retail industry news   Global Industry Watch    Australia's Woolworths expects year ahead to be tough one Woolworths reported a 4.7% sales increase in the past four quarters, but warned that the year ahead likely will be a tough one. Michael Luscombe, chief executive officer at Woolworths, said he doesn't expect the weak consumer spending environment in Australia to change soon. The Sydney Morning Herald (Australia) (20 Jul.)      Costco poised to open more outlets in Australia US-based Costco is expected to increase its presence in Australia over the next few years by opening as many as six additional stores. Costco's second and third Australian stores open in Sydney today and Canberra on Friday. Analysts do not expect the additional stores to have a "significant impact" on the country's grocery market, although it could result in some price reductions. The Herald Sun (Melbourne, Australia)/Australian Associated Press (19 Jul.)      3 Ways to Make Your Site Tablet-Worthy Create your own tablet-worthy site, and make your marketing work harder. This report shows you how to: • Take advantage of the tablet as a high-end media experience • Create experiences that support unique tablet behavior • Increase engagement by leveraging user-generated content   Retail in Europe    Founder of Inditex Ortega steps down as chairman Amancio Ortega, the billionaire founder of Inditex and Spain's richest man, handed over the reins of the company to Pablo Isla, managing director. "It is a very emotional day for us," Isla said. "I want to express my admiration for the person of Amancio Ortega, as head of the company and on a personal and ethical level." Google/Agence France-Presse (20 Jul.), Reuters (19 Jul.)      UK supermarkets continue to battle for market share The most recent data from Kantar Worldpanel show that the UK's four major supermarkets continue to jockey for position, with Asda appearing to lose sales to the others. However, in the past four weeks, Asda seems to be gaining ground as it converts Netto stores it acquired last year. The Independent (London) (20 Jul.)      Private equity firm interested in Poland's Emperia chains Mid Europa Partners, a private equity firm, is said to be interested in acquiring the retail arm of Poland's Emperia, which includes the Stokrotka, Lewiatan and Groszek chains. "Mid Europa is interested in buying these chains from Emperia. The shops would be a good addition to Zabka," according to a source who was referring to Mid Europa's acquisition of one of the largest retail chains in Poland. Reuters (19 Jul.)      Learn about the top insurance risks manufacturers face today with Zurich's Virtual Consulting tool. Sign up for FREE access today!   Retail in Latin America    Walmex reports lower-than-expected quarterly profit Wal-Mart de Mexico posted second-quarter profit of 4.487 billion pesos, down from 4.647 billion pesos the same period the previous year. "We have taken steps to improve sales immediately," said CEO Scot Rank. The retailer, which is known as Walmex, opened 174 stores in the first half of the year as part of an aggressive expansion plan. Reuters (19 Jul.)      Scheduling That Works for Employers and Employees: It's Not a Mirage Download the white paper How Automated Schedule Design and Management Benefits Both Employers and Employees for valuable tips on giving scheduling control and flexibility to employees. The result? Automated scheduling increased employee effectiveness for 84 percent of managers.   E-commerce Spotlight    Online retail sales in UK up 19% in first half of 2011 Capgemini and IMRG reported that online retail sales in the UK reached £31.5 billion in the first six months of 2011, up 19% from the same period the previous year. Sales growth was attributed to good weather in April, the wet summer, spending before the Royal Wedding and consumers' desire to find better deals online than in traditional stores. Reuters (20 Jul.)      Ad Compliance Best Practices Kit — Stay ahead of consumer concern and government regulation with TRUSTe. Gain an overview of what Behavioral Advertising (OBA) is, why it is important, and what your options are. Insights from the FTC, DAA, TRUSTe, Forbes, Publisher's Clearing House and more. Register Now.   Spotlight on Luxury Goods  Luxury retail spending in Singapore driven by economic growth Luxury retailers in Singapore are enjoying increased demand that is being attributed to the strong local currency and economic growth. Data for the first quarter showed a 5% increase in personal consumption. "It's a very strong labour market and improving income across the ranges," said David Cohen, an economist at Action Economics. "And people always like to spend more on fashion and other discretionary items when they have a little more money to spend and that should continue." Channel NewsAsia (19 Jul.)      Hermes says full-year sales growth to beat expectations Hermes International said strong demand from China and the US helped drive up quarterly earnings. The results prompted the French luxury-goods company to raise its forecast for full-year sales growth. Sales for the quarter ending in June reached €668 million, up 18% from the same quarter the previous year. The Wall Street Journal (tiered subscription model) (20 Jul.)        NRF News  Bright outlook for US online sales growth partly due to global marketplace Many US industries have struggled in light of the economic downturn of the past three years, but e-commerce is not one of them. Online retail for the most part has continued to experience strong growth with retailers seeing an average increase of 40% in online sales for 2010 over 2009. In a recent Shop.org blog post, Head of Research Fiona Swerdlow details how social media, mobile, tablets and the global marketplace have affected online retail sales for the better. 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