  | Global retail industry news |  |
- South Africa's Massmart reports increase in full-year profit
Massmart Holdings is more optimistic about the outlook for the rest of 2011 after it posted a 10.3% jump in profit. The retailer also said it is confident issues related to Wal-Mart Stores' takeover will be resolved. "The group's legal teams are confident about the merged entities' strong legal position," Massmart CEO Grant Pattison said. MarketWatch (25 Aug.)       | Despite being a backbone enterprise application, Enterprise Resource Planning is often misunderstood. In this guide from Focus, top experts provide their suggestions and recommendations to guide you through your evaluation of the best choices. Unravel the complexities of ERP once and for all to make an informed buying decision by downloading this free white paper. |
 - Ahold faces challenges as cost of food keeps rising
Ahold, the Dutch grocer that makes much of its sales in the US, is struggling to pass on higher food costs to consumers and is expected to report a quarterly profit decline of about 11%. Ahold, which has nearly 3,000 stores in 12 countries, is not alone as cash-strapped shoppers make it difficult for retailers to pass on rising costs. Reuters (25 Aug.) - Germany's Henkel sells off hundreds of brands, CEO says
Kasper Rorsted, CEO of Henkel, said that the German firm has been and will continue shedding hundreds of brands as it concentrates on its leading labels. "We've shed 600 brands in the last three years," Rorsted said. "We probably have another 100 or 200 to go." Meanwhile, Dusseldorf-based Henkel is expanding in China. Bloomberg (25 Aug.)  - China's retail market heats up as rest of world cools down
Much of the global economy is facing significant headwinds, but China's retail market is defying the trend. The country's retail industry is growing with combined sales up 20% on a year-on-year basis as of June 17, according to Kantar Worldpanel. International retailers are striving to tap into the growing market, particularly as their domestic markets stagnate. China Daily (Beijing) (25 Aug.)  - Chinese consumers sue Dangdang over canceled orders
Consumers in China have filed eight lawsuits against online retailer Dangdang, claiming the company canceled their orders for books bought at deeply discounted prices during a promotional sale. The company told shoppers their orders were canceled because of data entry errors, the same reason it gave for canceling sales during two earlier promotions. Reuters (23 Aug.) - Taobao bans sales of anti-censorship software
Chinese online retailer Taobao has banned sales of software designed to bypass the government's Internet censorship. The company says the move was voluntary and not the result of an official order by the government, which is tightening censorship efforts as it works to avoid a Middle East-style protest movement. ABC News/The Associated Press (23 Aug.)  | Learn about key HR areas that all entrepreneurs will face
Entrepreneurial execs know that they need to follow the rules, but they may not realize which decisions will lead to the two vital components that help keep HR costs low. The following paper will focus on minimizing human capital expenses in four key areas. Download the white paper, An Executive’s Guide to Cutting HR Costs to learn more. |
 | Spotlight on Consumer Electronics |  |  | | | NRF News | | | | - 5 secrets to recovering lost spend
From increasing competition and inconsistent consumer spending to rising merchandise costs and high employee turnover, retailers face considerable challenges to achieving profitability. Join executives from The Container Store, Paystream Advisors and Coupa Software today at 2 p.m. for a STORES Knowledge Series webinar that will focus on five internal opportunities to cut costs and achieve efficiencies that will deliver savings straight to the bottom line. Learn more.
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