| Global retail industry news |  |
- Jysk has ambitious expansion plans for Canada
Jysk has more than 40 stores in Canada, and despite its similarity to its Scandinavian rival Ikea, the Danish retailing giant is little known among Canadians. That could be about to change as Jysk plans to open 20 stores annually over the next three years. Jysk and Ikea use the same flat-pack concept, although Jysk strives to sell less expensive products. "Our theme is quality for less," said Lynne Williams, director of advertising at Jysk. CTV.ca (Canada) (13 Feb.)        | Effective innovation is illusive, but is the key to sustained competitive advantage in the CPG industry. This report slide package examines best-in-class examples of innovation and marketing to drive success in this increasingly challenging environment. Learn more here. |
 - JJB Sports looks to close stores in bid to continue operating
JJB Sports has noted 45 "significantly underperforming" shops it is considering shutting down, and it has put dozens of other locations under review. JJB Sports stores' landlords are concerned about the decision, according to the British Property Federation. The retailer is striving to raise funds from existing shareholders to continue operations. Meanwhile, JD Sports is awaiting the outcome of JJB Sports' proposed restructuring plan before pursuing takeover talks. Telegraph (London) (12 Feb.), Reuters (11 Feb.), The Independent (London) (13 Feb.) - L'Oreal to focus on acquisitions as it seeks to expand
L'Oreal plans to use its €1.5 billion in cash to make acquisitions as it seeks a greater presence in the global market. The company will look at deals "that will offer the highest middle-term and long-term potential," said CEO Jean-Paul Agon. "Our priority in the allocation of cash is for acquisitions, acquisitions, acquisitions and more acquisitions." Bloomberg (11 Feb.)  | The Five Traps of Performance Measurement
Too often senior executives leave measurement to the spreadsheet specialists. To take ownership of performance assessment, argues the author of this Harvard Business Review article, those executives must find qualitative, forward-looking measures that will help them avoid five common traps. Order here. |
 | Retail in Asia |  | | | - Best Buy goes slow to win Chinese customers
In China, Best Buy had to learn to serve customers who wanted a vast variety of products to choose from, rather than the carefully curated offerings the electronics giant normally offers. The key was to show customers that they could have their a broad selection but still benefit from the impartial advice of Best Buy's representatives, says Kal Patel, head of Best Buy's Asia operations. "In China you cannot make revolutionary change. You have to work at the pace of the Chinese consumer." CNNMoney.com/Fortune (11 Feb.) - Groupon gears up to launch service in China
Groupon has hired about 120 employees in China and plans to launch its daily-deal service there soon, working with an unnamed partner, said the company's Hong Kong CEO Danny Yeung. Chicago-based Groupon plans to expand its employee base in China to about 1,000 in the next three months, he said. Bloomberg (10 Feb.)  | Making a big change starts with keeping a small promise.
Like us on Facebook to share your promise and view the promises of others. |
 | Technology Solutions | | | | - Irish retailer taps into Facebook friends to boost sales
Alan Kelly of Gentlemen Please in Ireland sent out a call for help to 2,500 customers via a Facebook message. "I told my client base that I had excess stock that I needed to sell and at bargain prices and it has worked. We have had a few great days' trading," Kelly said, noting he had to slash prices. "It had to be done. I was just glad that I was able to offer all the loyal customers who have supported me over the years first notification of the sale." Independent.ie (Ireland) (13 Feb.) | Spotlight on Mass Merchandise | | | | - South African panel clears Wal-Mart's bid for Massmart stake
South Africa's Competition Commission has approved Wal-Mart Stores' $2.3 billion offer for a stake in Massmart Holdings. The panel referred the bid to the Competition Tribunal. "We are delighted that the commission has recognized the inherent benefits in this proposed transaction for South African consumers, suppliers, associates, employees and all other stakeholders," said Doug McMillon, CEO of Wal-Mart International. Bloomberg (12 Feb.) | NRF News | | | | - Creating successful supply chain partnerships
Getting retail supply chain operations right is a challenge for all retailers, and getting things right in 2010 proved especially tricky. According to NRF's Jon Gold, the key to success can often lie in successful and robust partnerships with transportation and service providers. In a recent post on Retail's BIG Blog, Gold shares two 30-second interviews from executives at Kohl's and Charming Shoppes as they talk about successful supply chain partnerships and lessons learned from 2010. Read more.
| SmartQuote | | | |  | I don't care too much for money, money can't buy me love."
--The Beatles,
British rock band,
quoted for Valentine's Day, Feb. 14, 2011  |
| | This SmartBrief was created for cpgbrokers.data@blogger.com
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