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  | Global retail industry news |  |
- Tod's pledges €5.2 million to help fund Milan opera house
Tod's, the luxury shoemaker, is urging other companies to support Italy's cultural treasures. Tod's recently pledged €5.2 million to fund La Scala, the opera house in Milan, and previously put up €25 million to fund the Colosseum's restoration in Rome. "Maybe in a few months we will be able to give some good news about other symbols of our country, like Pompeii, Venice and Florence," said Tod's CEO Diego della Valle. Reuters (10 Jun.)        | How do you stay ahead of the curve and remain in the black while consumers continue to be frugal in these difficult times? Find out how product lifecycle management solutions are helping manufacturers maximize production efficiencies, reduce time to market, and solve design and production problems before they reach the prototype stage. |
 - Jersey officials aim to simplify Sunday trading laws
The council of ministers in Jersey is considering changing the Sunday trading laws, which currently allow only government-approved goods to be sold that day. One official called the current laws "silly," but others said that changing the rules might not prompt more shops to open on Sunday. BBC (09 Jun.) - Morrisons acquires wholesale flower business
WM Morrison said that the acquisition of Flower World is its latest vertical integration step, which will enable the supermarket chain to "continue to improve the quality and freshness of its flowers." "Morrisons wants to be known as the supermarket that excels at retailing flowers. We believe that we can do this by owning our own flower business, being closer to growers and therefore better able to control quality and value," said Dalton Philips, chief executive officer at Morrisons. Telegraph (London) (10 Jun.)  | Discover what risks could be lurking in your vacant commercial property with Zurich's guide 'Empty building, full of risk: Protecting your vacant commercial properties'. Click here for your FREE download! |
 - Matahari aims to become largest retailer in Indonesia
PT Matahari Putra Prima has been expanding its store network across Indonesia as it aims to surpass Carrefour as the nation's biggest retailer by sales. Carmelito Regaldo, president of the company's food business, said he expects increased demand from Indonesia's middle class to help push up Matahari's revenue. "As Indonesians reach that income threshold, spending habits begin to change," he said. "The wealth is spreading all over the islands." The Wall Street Journal (tiered subscription model) (09 Jun.)  | 3 Proven Rich-Media Strategies for Your 2011 Campaigns
Today's hyperconnected consumers expect rich, engaging experiences wherever they interact with your product or service. In this report you will learn how to use rich media to:
• Engage mobile audiences
• Create flawless website experiences
• Improve online ad performance |
 - La Polar shares drop after announcement about loan-loss provision
Chile's Empresas La Polar said it might need to raise its loan-loss provisions by $427 million. The announcement sent the department store's shares down 42% in Santiago trading. A statement on a regulatory agency's website said that executives at La Polar had conducted lending practices that weren't approved and didn't follow company standards. La Polar has fired its lending manager and brought in a new CEO, Eduardo Bizama. Acting CEO Martin Gonzalez will return to his previous position as commercial manager. Bloomberg (09 Jun.)  | Get the Information That Leads to Higher Sales
Learn how a 0.1 percent increase in employee engagement generated more than $100,000 in one store's income when you download the white paper HR and Payroll - Achieving Accountability, Transparency in Retail. A unified HR and payroll system gives you high-quality data you can use to serve customers better. |
 | E-commerce Spotlight |  | | | - Report: E-commerce sites have room to improve returns processes
The Snow Valley 2011 Online Returns & Refunds report shows that Internet stores have room to improve their returns policy by making them more flexible and simpler. The report shows that more than half of retailers studied didn't offer any options in terms of methods of return. However, the study did find that more retailers are refunding delivery charges. eConsultancy.com (09 Jun.) | Spotlight on Fashion | | | | - Gap plans to shift focus to overseas, online and outlet stores
The Gap chain is no longer the driving force behind Gap Inc., according to Glenn Murphy, chairman and CEO of the company. Murphy said the company plans to shift its focus away from its namesake brand and instead concentrate on bolstering its online and overseas presence. Outlet stores will also be a major piece of the Gap puzzle. DailyFinance.com (09 Jun.) | NRF News | | | | - Register by today and save $300 on Shop.org's Annual Summit
Be a part of the year's hottest digital retailing event -- Shop.org's 2011 Annual Summit. At this year's Summit, Sept. 12-14 in Boston, executives from Charming Shoppes, Columbia Sportswear and Creative Good will share their expertise on how to succeed in today's ever-changing digital landscape. Register by today to take advantage of the early rate and save more than $300. Shop.org retail members can also claim their company's one free pass. Learn more.
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