| Global retail industry news |  |
- Wal-Mart's proposal for stake in Massmart moves forward
Massmart Holdings said it expects that the South African competition tribunal soon will provide its take on Wal-Mart Stores' proposal to acquire a controlling stake in the African retailer. "We should know in April where we stand with the competition tribunal regarding Wal-Mart," Massmart said. The competition tribunal is holding a hearing from March 22 to 24. Meanwhile, the retailer reported a small increase in first-half profits and offered a cautious outlook for the year. The Wall Street Journal/Dow Jones Newswires (24 Feb.), Reuters (24 Feb.), Bloomberg Businessweek (24 Feb.)       - Leighton to step down as president, deputy chairman at Loblaw
Loblaw Companies, the largest supermarket operator in Canada, reported an 8.5% decline in quarterly profit. Separately, Allan Leighton, president and deputy chairman at Loblaw, has decided to resign; he will be succeeded by Vicente Trius, a senior executive from Carrefour. "We are in the final year of renewal and I am delighted that Vicente Trius will be my successor. I will work to ensure a smooth handover to his leadership," Leighton said. The Toronto Star (24 Feb.), The Globe and Mail (Toronto) (24 Feb.), Financial Post (Canada) (24 Feb.)  | 2011 planning for social media made simpler
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 - Clarke's goal as CEO of Tesco is to take back Britain
Philip Clarke has been working to expand Tesco's global presence for seven years, and next week, he succeeds Terry Leahy as CEO of the retail giant. He said his focus will shift to Britain. "The UK business is the big struggle," said William Hobbs of Barclays Wealth in London. "We'd really like them to use the UK as an ongoing cash cow, to increase returns and not lose any more ground there." Bloomberg (25 Feb.) - UK retailers raise prices as sales fall, CBI says
The CBI Distributive Trades Panel said in a report that the number of retailers posting higher in sales reached an eight-month low while the number of retailers raising prices was at a 20-year high. "The positive effect of seasonal discounting on the high street that previously boosted sales has now waned," said Lai Wah Co, head of economic analysis at CBI. "Retail sales are likely to be more challenging over the coming months. At the same time prices are set to rise considerably as the [Value Added Tax] increase and the soaring cost of raw materials are passed on to shoppers." The Independent (London) (25 Feb.)  | Why Should Anyone Be Led by You?
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 | Retail in Asia |  | | | - Media Markt plans expansion in China
A few days after Best Buy announced that it is closing its stores and headquarters in China, Media Markt has announced plans to expand there. Media Markt China plans to launch more than 100 outlets over the next few years. China Daily (Beijing) (25 Feb.) - Biyani aims to regain confidence in Pantaloon Retail
Future Group CEO Kishore Biyani is planning to sell the company's stakes in non-core retail businesses in an effort to boost investor confidence in the firm's Pantaloon Retail. Proceeds from the sales will help the company repay debt. "As a strategy we would like to bring down the debt levels through proposed disinvestments, which will provide us significant headroom for growth of our retail businesses through M&A and other opportunities," Biyani said. The Economic Times (India) (25 Feb.)  | Are you keeping up with the changing world of employee health care? Get The Basics of Employee Health Care for Small Business: A Guide to Creating a Company Benefit Plan, and find out what you need to know today. There's no obligation. Click to download a FREE whitepaper. |
 | Technology Solutions | | | | - Tesco.com to focus on development for tablets this year
Nick Lansley, head of research and development at Tesco, told participants at a recent industry event that the UK retail giant plans to streamline its number of applications and focus on developments for tablet devices. Tesco is also working on a mobile app geared toward Android devices while expanding its suite of apps for the iPad. "The iPad is a really nice example of the fourth screen," Lansley said. "This is where we're going, especially as tablets get cheaper." MarketingWeek.co.uk (U.K) (free content) (24 Feb.) | Spotlight on Fashion | | | | | NRF News | | | |
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