Tesco works toward developing shopping malls in China

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01 March 2011 Sign up Forward Archive Advertise Global retail industry news   Global Industry Watch  New Zealand's Kathmandu optimistic following earthquake Kathmandu, the outdoor clothing retailer based in Christchurch, said sales since mid-January have exceeded expectations despite the recent earthquake. The retailer said that two stores which were badly damaged in the quake will remain closed indefinitely. News.com.au (Australia)/Australian Associated Press (01 Mar.)   Retail in Europe  Investors in Ahold want details on plans for cash reserve Ahold's new CEO Dick Boer is under pressure from investors to outline the company's plans for how it will spend its €2 billion cash pile. Boer is scheduled to present the Dutch retailer's full-year results this week. The company could pursue acquisitions, expand in the US, invest in its Internet business or return cash to shareholders. The Wall Street Journal/Dow Jones Newswires (28 Feb.) Primark notes slowing of demand in Britain In a trading update, Associated British Foods, owner of Primark, said the retailer performed well before the holidays but has seen a "noticeable" slowdown in demand since the beginning of the year. "The UK consumer is feeling a squeeze because of inflation and the VAT rise, and simply has less to spend," said John Bason, finance director at ABF. BBC (28 Feb.), Telegraph (London) (28 Feb.) Sale of Dutch retailer Hema still possible, sources say Lion Capital, a private equity firm, is continuing negotiations over the sale of Hema, the Dutch retail chain, sources said. Lion previously had rejected the formal sale process. Royal Ahold and private equity funds are seen as potential suitors for Hema. The Wall Street Journal/Dow Jones Newswires (28 Feb.) Other News Danish clothes retailer to expand in Northern Ireland Belfast Telegraph (Northern Ireland) (28 Feb.) HMV says full-year profits to be below expectations BBC (01 Mar.)   Retail in Asia  Tesco works toward developing shopping malls in China Tesco is establishing a joint venture to develop three shopping malls in China. Tesco said that a consortium of Asian investors will own half of the joint venture. Tesco currently operates nearly 100 hypermarkets and four Lifespace malls in China. Sir Terry Leahy, who is retiring as CEO of Tesco, led the move into Asia. Telegraph (London) (28 Feb.), Google/Agence France-Presse (28 Feb.)   Retail in Latin America  Brazil's Magazine Luiza plans initial public offering Magazine Luiza, the Brazilian department store chain, is preparing to launch an initial public offering. The retailer plans to use the proceeds from the IPO to invest in new stores and online commerce as well as to make acquisitions. AutomatedTrader.net/Dow Jones Newswires (28 Feb.)   E-commerce Spotlight  Australia's Myer launches Chinese-based online site Myer, the department store giant based in Australia, has conducted a "soft" launch of its Chinese-based website. The site allows Australians to shop Myer without having to pay GST. So far, however, retail rivals say the Myer site -- myfind.com -- poses little threat. The Sydney Morning Herald (Australia) (01 Mar.), SmartCompany.com.au (Australia) (01 Mar.)   Technology Solutions  Men and women use digital channels differently, survey finds Shoppercentric conducted a study that found clear differences in the way women and men use social media, smartphones and other digital channels to make purchases. "The survey clearly suggests a rather stereotypical situation -- that women are slightly more likely to engage with retailers and brands through the social, chatty medium while men are very happy to play with their toys. Time is also an issue with women possibly more likely to engage in the social elements of a retailer's Facebook page, and men looking to speed up the purchasing process via mobile," according to Shoppercentric. InternetRetailing.net (28 Feb.)   Spotlight on Grocery  UK food prices rising more quickly than inflation, UBS says Analysts at UBS said food prices in the UK are rising more rapidly than inflation. Prices are also increasing more quickly in the UK than in other developed economies. "UK food prices are rising more rapidly than most other OECD economies' food prices and have significantly outstripped food retailers' cost inflation," the analysts said. "This could allow UK politicians to suggest that food price inflation is 'unfair' or 'excessive'." Reuters (28 Feb.), Telegraph (London) (01 Mar.)   NRF News  NRF's technology division launches new website A recent facelift has NRF's ARTS website looking and functioning like new. Aside from a new easy-to-navigate homepage, the ARTS site now has onsite members-only collaboration areas where members can share files, start forum discussions, and even create personal notes as they explore or work on the site. Learn more. Join NRF  |  NRF Events  |  FIRAE  |  STORES  |  Training and Certification   SmartQuote  One may smile, and smile, and be a villain." --William Shakespeare, British playwright   This SmartBrief was created for cpgbrokers.data@blogger.com   Subscriber Tools       Update account information | Change e-mail address | Unsubscribe | Print friendly format | Web version | Search past news | Archive | Privacy policy Grab our News Widget Publish your Press Release   Advertise Associate Publisher:  Susan W. 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