| Global retail industry news |  | | |  | - Tesco's Leahy is honoured as role model in retail sector
Sir Terry Leahy, head of Tesco, was honoured as a leader in the retail sector at the National Business Awards this week. For many in the UK and beyond, Tesco's success story is a familiar one, but what is less well known is Leahy's contribution to the retail giant. Sales have surged from £17.8 billion in 1997 when Leahy took the top job to £62.5 billion now. Telegraph (London) (10 Nov.)      - Chinese money has global reach
Affluent Chinese consumers have been purchasing a larger share of products from Gucci, Hermes and other luxury companies, and they're reaching beyond the country's borders to do so. About 56% of luxury-goods purchases by Chinese shoppers last year were not made in China, according to a report from Bain & Co. The report estimates that Chinese consumers spent about $6.5 billion in Hong Kong, Macau, New York, Paris, Rome and Tokyo. The Wall Street Journal/Scene Asia blog (10 Nov.)  | Gain insight into the overall health of U.S. businesses and how to leverage new tools to better manage business, while reducing risk exposure. Register now for Gain a clearer picture of small-business risk in an uncertain market.
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 - ASDA, Sainsbury expect big holiday season
J Sainsbury and ASDA are expecting a festive holiday season this year, as they bet UK shoppers will feast before they ring in the year by reining in spending. "Christmas is a time where people trade up on food," Sainsbury CEO Justin King said. "We've seen people quite clearly manage their weekly spend so they can preserve things that are important to them." Bloomberg (10 Nov.) - Russia's Magnit reports 47.3% surge in October sales
Magnit, a major food retailer in Russia, said its aggressive store-opening programme and the economic recovery have helped it realise significant increases in sales over the past couple of months. In September, Magnit's sales increased 44.11%, and then they rose 47.3% in October. The retailer opened 87 stores last month to bring its total to 3,780 outlets. Reuters (10 Nov.) - SuperGroup accelerates expansion efforts
SuperGroup, a UK-based fashion retailer, said it opened eight stores in Britain, 13 concessions in House of Fraser stores and 14 outlets overseas in the last quarter. The openings represent a ramped-up expansion for the Superdry fashion company and resulted in a surge in sales. SuperGroup plans to open more stores in the UK before Christmas. Google/The Press Association (U.K.) (10 Nov.)  | What could be better than supporting and managing your BlackBerry smartphone deployment, for free? Nothing.
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 - Indian government departments raise concerns about FDI
Momentum had been building to open India's multibrand retail sector to foreign direct investment, but a couple of government departments are raising concerns about the move. The communications & IT ministry said electronics manufacturers could be affected by the move, while the micro, small and medium enterprises ministry cautions that no more than 18% FDI should be allowed in the sector. The Economic Times (India) (10 Nov.)  | Reshaping Enterprise Workforce Management Software
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 | E-commerce Spotlight |  | | | - Japan's Rakuten reports 16.4% rise in sales so far this year
Rakuten posted sales of $3.15 billion for the first nine months of 2010, a 16.4% increase over the same period the previous year. The company has been involved in a global expansion of its online retail business, which has helped increase sales. For example, Rakuten recently launched a new online shopping mall called Lekutian in China. Google/Agence France-Presse (09 Nov.) - Study: Online retailers have room to improve research
Online retailers do not consistently and properly analyse their profitability, according to research. The study found that e-retailers are inconsistent about how they measure success in sales. "What we've discovered is that the online retail industry is still too immature to know what good looks like. However, it is clear that higher performing online retailers are more sophisticated and focused in their measurement of profitability," said one researcher. InternetRetailing.net (08 Nov.) | Spotlight on Luxury Goods | | | | | NRF News | | | | - Cost of return fraud continues to rise this holiday season
The retail industry will lose an estimated $3.7 billion to return fraud this holiday season, up from $2.7 billion in 2009, according to NRF's annual Return Fraud Survey. As a result of rampant fraud, many retailers have begun to adopt policies that require customers returning merchandise to show identification. Two-thirds of retailers now require customers returning items without a receipt to show identification, and 21.1% require shoppers with a receipt to show ID. Read more.
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