| Global retail industry news |  | | |  | - Tesco hints at plan to crack US market with Fresh & Easy
Tesco recently posted a 15.3% increase in profit for the first half of this year. With it, the UK-based company indicated that it is planning to make another run at the American market with its chain of Fresh & Easy stores. Tesco expects to bolster its total number of Fresh & Easy stores in the US to increase from about 159 now to 400 by the 2012-13 fiscal year. The Wall Street Journal (06 Oct.) , Telegraph (London) (06 Oct.)      - Canadian retailer commits to "no retouch" photo policy
Jacob, a specialty women's wear chain in Canada, has waded into the debate over body image by instituting a "no retouch" policy for photos. "We are the first Canadian fashion retailer to commit to a No Retouching policy," said Cristelle Basmaji, director of communications and marketing at Jacobs and granddaughter of the retailer's founder. "It's a trend in the industry right now. And it fits in with our values as a family and a company." The Toronto Star (05 Oct.) - Australia's Coles reignites discount price war
Coles, an Australian supermarket giant, has targeted hundreds of health and beauty products for price cuts, reigniting a price war with rival retailers, including Woolworths. A string of interest rate increases in Australia has prompted discounting to become a trend in the country's retail sector. The Age (Melbourne, Australia) (06 Oct.)  | Reshaping Enterprise Workforce Management Software
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 - Sources: Russia's O'key to fund expansion with IPO
O'key, one of the largest food retailers in Russia, aims to use proceeds from a planned initial public offering in London to fund its expansion, according to sources. "There continues to be substantial under-penetration of modern retail throughout Russia, and we believe we have the right business model and customer value proposition to capitalise on the growth opportunity," CEO Patrick Longuet said. Reuters (05 Oct.) - UK retailers try to absorb rising cost of cotton
Retailers in the UK are striving to keep the prices of entry-level products accessible as the cost of cotton surges. Next CEO Simon Wolfson recently estimated that clothing prices will jump by as much as 8% in 2011 after years of virtually no inflation. Charles Tyrwhitt is striving to maintain the cost of its least expensive shirts while raising prices and adding value on higher-priced items, such as suits and shoes. "People want good value, you can't just bump up the prices," said Nick Wheeler, founder of the company. "Reducing the quality or adding polyester-blends to shirts would be a mistake. One thing you can never change is the quality." Bloomberg (05 Oct.)  | Do People Trust Your Brand?
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 | Retail in Asia |  | | | - Indian panel to decide whether to open retail to FDI
An Indian government official said a panel of ministries will determine whether the country will allow foreign direct investment in organised retail. "A panel of six ministries was constituted on September 27, which will be chaired by Kewal Ram, senior economic adviser in the consumer affairs ministry," the official said. The panel will consider feedback from stakeholders and a discussion paper published by the government. The Economic Times (India) (06 Oct.)  | The Joint Pain Relief Workout
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 | Spotlight on Luxury Goods | | | | - Luxottica and Coach announce eyewear partnership
Luxottica, an Italian eyewear maker, is gaining traction in North America and Asia through a deal with US accessories brand Coach. The companies have formed an eyewear partnership that is expected to bolster sales by more than $100 million annually. "We think there's a lot of opportunity for somewhat accessible luxury today in the global market," said Antonio Miyakawa, an executive at Luxottica. The Wall Street Journal (05 Oct.) - Prada considers IPO in Hong Kong, sources say
Prada has scrapped four planned initial public offerings in the past decade, but is once again considering floating, this time in Hong Kong, according to sources. The Italian owner of the Prada label has opened new locations across Asia as the market for luxury goods has rebounded. Bloomberg (06 Oct.) | NRF News | | | | - KPMG retail leader discusses industry trends, challenges
In a wide-ranging Q-and-A, KPMG partner Mark Larson discusses the biggest issues in retail today, from hiring trends to social media to lease accounting regulations. As a partner of NRF's prestigious Retail Horizons survey, Larson outlines reasons for and provides insight on the industry trends -- and challenges -- that he thinks will emerge when the report is released in January. Read more.
| SmartQuote | | | |  | Folks today have ... got this idea that self-respect means 'I am a terrific person. I am wonderful. Me, me, me.' That's not self-respect; that's vanity."
--Bessie Delany,
American dentist and civil rights pioneer  |
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