Indian firm to help Wal-Mart make shopping more social

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01 August 2011 Sign up Forward Archive Advertise Global retail industry news   Global Industry Watch  Bras N Things might be forced to reduce staff Bras N Things, a retailer of intimate apparel, said it might have to reduce its workforce due to competition from online merchants, tough trading conditions and other factors. Bras N Things' initial public offering was scrapped this year because of the difficult retail landscape. The Sydney Morning Herald (Australia) (01 Aug.)      Australia enters austerity era as consumers rein in spending Australia sidestepped the worst of the global financial crisis, but consumers did rack up large mortgages and significant credit card debts. Many are reforming their spending habits, causing an era of austerity to take hold. The Australian (30 Jul.)      Russia's Tsentrobuv plans IPO in Hong Kong Tsentrobuv, a Russian shoe retailer, is planning to launch an initial public offering in Hong Kong to raise about $800 million, a source said. The company has not finalized the size or timing of the IPO, however. The Moscow Times/Reuters (01 Aug.)      The Business Platinum Card® from American Express OPEN Spending power for your business. Premium benefits for you. Access a portfolio of 30+ premium benefits, including: • Membership Rewards® points that pay for flights, hotels, and more • 24/7, 1-on-1 Concierge for help with your life and your Business • Complimentary Airport Club Access Business Platinum Card APPLY NOW   Retail in Europe    Irish watchdog approves Amazon's acquisition of rival The Irish Competition Authority approved Amazon.com's proposed acquisition of the Book Depository, which concentrates on traditionally bound books. However, Amazon still needs the approval of the Office of Fair Trading, which is expected to render a decision by the end of August. The New York Times (tiered subscription model)/Bits blog (29 Jul.)      M&S sets up new staff retirement plan ahead of changes The UK government's overhaul of pension plans comes into force next year, prompting Marks & Spencer to launch a new staff retirement plan. Legal & General will run the plan, which has been established as a "master trust". "There is currently a 12-month waiting period to get into the scheme, and that will need to be reduced to three months. The contribution structure is also being simplified," a spokeswoman said. Financial News Online (U.K.) (subscription required) (01 Aug.)      Achieving Operational Efficiency: Business Solutions for Midsize Companies from SAP Learn how your organization can use SAP Business All-in-One to make smarter decisions, adapt to changing conditions faster, and lower total costs. Download this white paper for specific insights on this ERP solution and how industry-specific functionality can yield a competitive advantage.   Retail in Asia    Various factors hit sales of discount retailers in India Discount apparel retailers in India are seeing sales eroded by other retailers' private labels, online merchants and premium brands offering steep discounts. "Our business dynamics have changed with the new excise duties and increasing competition from private labels and e-commerce," said Abani Kant Jha, chief financial officer at Cantabil. "We are rethinking our short-term and long-term business plans." LiveMint.com/The Wall Street Journal (India) (01 Aug.)      Other News China Resources to acquire Jiangxi Hongkelong Reuters (29 Jul.)      Scheduling That Works for Employers and Employees: It's Not a Mirage Download the white paper How Automated Schedule Design and Management Benefits Both Employers and Employees for valuable tips on giving scheduling control and flexibility to employees. The result? Automated scheduling increased employee effectiveness for 84 percent of managers.   E-commerce Spotlight    Retail spending is likely higher than estimates, experts say Unrecorded sales by foreign online retailers likely mean that retail spending in Australia as well as New Zealand is higher than previously estimated, experts said. PricewaterhouseCoopers and Frost & Sullivan conducted an Australian survey that found retail spending there would rise by 4.5% in 2011, which is twice official predictions. The survey includes items bought from overseas retailers. Stuff (New Zealand)/The Dominion Post (01 Aug.)      Balderton Capital acquires stake in online retailer Achica London-based private-equity firm Balderton Capital has bought a stake in online homewares retailer Achica. The investment reflects an endorsement of Achica, a members-only site launched by Quentin Griffiths, a co-founder of Asos. The Telegraph (London) (30 Jul.)      Health care reform got you down? Learn more from UnitedHealthcare on how the federal changes to medical benefits will affect you and your employees. This guide highlights incentives for enrollment and a timeline of important dates and deadlines. Don't let them pass you by—Learn more here!   Technology Solutions  Indian firm to help Wal-Mart make shopping more social An Indian company called @WalMartLabs is working with Wal-Mart to leverage social media information to improve the shopping experience. "We are not in a position yet to talk about exactly what product we will be launching or the time frame. But what I can tell say is that we are definitely close to launching some stuff," said Venky Harinarayan, one of the two founders of @WalMartLabs. Financial Chronicle (India) (31 Jul.)        Spotlight on Mass Merchandise  Top international retailers lukewarm to India's FDI move As officials in India move toward allowing foreign direct investment in the country's multi-brand retail segment, top international retailers appear guarded about the possibility. Experts note various challenges, such as infrastructure issues, as well as the possibility that riders will be attached to the FDI measure, as reasons why retailers aren't jumping on the idea. Business Standard (India) (01 Aug.)        NRF News  Maximize your career through NRF's LinkedIn group Nearly 5,000 people have joined NRF's LinkedIn group to network with peers, post discussions, find solution providers, and connect with retail recruiters. If you're on LinkedIn, join the NRF group to catapult your connections to a new level. View the group.      Join NRF  |  NRF Events  |  FIRAE  |  STORES  |  Training and Certification   SmartQuote  The theory seems to be that as long as a man is a failure he is one of God's children, but that as soon as he succeeds he is taken over by the Devil." --H.L. Mencken, American journalist and essayist        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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