| Global retail industry news |  |
- Sears Canada store closings make way for Nordstrom
Sears Canada's plans to close three stores in prime locations including Vancouver's Pacific Centre could pave the way for US luxury department store Nordstrom to make its Canadian debut. Nordstrom has been in talks with landlord Cadillac Fairview Corp. as part of its site search and has identified Vancouver as a strong possibility because of its proximity to the company's Seattle headquarters. The Globe and Mail (Toronto) (04 Mar.)      - Woolworths maps plans to expand home-improvement chain
Woolworths plans to build its Masters home-improvement chain into a $6.4 billion business with 150 stores in Australia during the next half decade, CEO Grant O'Brien said Saturday. Woolworths launched the first Masters store last fall, in partnership with US-based home-improvement retailer Lowe's. Bloomberg (04 Mar.)  | How can you help your company get well sooner?
Visa Healthcare cards reduce paperwork, reimbursement checks and mailing costs, making your job go faster and more streamlined. They also provide employees convenient access to health-benefit funds, which means happier employees and increased enrollment. Visit visa.com/healthcare to learn more. |
  - Tesco property fund raises $602 million in IPO: The Tesco Lotus property fund, which owns 17 Tesco-anchored retail properties across Thailand, raised $602 million in its initial public offering. The Wall Street Journal (04 Mar.)
- Starbucks to tout stronger UK latte with new ad campaign
Starbucks will add an extra shot of espresso to its lattes in the UK later this month without raising the price, a fact that chain plans to advertise in a splashy new campaign. "Britain has become the home of the latte and it's the country's most popular coffee shop drink," said Kris Engskov, managing director for Starbucks in the UK and Ireland. Brand Republic (U.K.) (02 Mar.)  | 10 Principles for Building an Effective Human Capital Plan
The Human Capital Plan is an important tool that organizations use to drive focused actions that can ensure goal achievement and business success. It allows organizations to assess, plan for, and respond proactively to its human capital challenges and needs. Download the white paper to learn more. |
 | Retail in Asia |  |  | | - Hong Kong retailers see lower growth in January
Hong Kong's retail sales rose a lower-than-expected 14.9% in January, compared with a 24.9% increase in the same month last year, according to the Hong Kong Retail Management Association. Strong December holiday sales had raised expectations for January, which includes the Lunar New Year. Women's Wear Daily (subscription required) (02 Mar.) - China's largest hypermarket chain sees slower sales
Sun Art reported lower-than-expected earnings growth for the year ended 31 Dec., as same-store sales growth at China's largest hypermarket chain slowed to 8.8% from 11.4% in 2010. Operating costs rose in 2011 as the chain opened 46 new stores and added employees. Bloomberg (05 Mar.)  | Retailers use video surveillance as a valuable tool to combat shrinkage, which can account for more than 2% of retail sales for some U.S. organizations. Shrink is up 6.6% in 2011 over 2010. This 6-page whitepaper from 3VR gives real examples on how retailers are increasing sales with video surveillance & analytics. Download it free today. |
 | Spotlight on Mass Merchandise | | | | - Asia's manufacturing sector grows in February
Manufacturing activity rose last month in some Asian countries including China and Taiwan, amid higher consumer confidence in Europe and the US, according to data released late last week. The better-than-expected results could convince some of Asia's central banks to hold off on policy changes to support growth, said Tim Condon, head of Asia research at ING Financial Markets. The Wall Street Journal (01 Mar.) | NRF News | | | | - NRF Global Supply Chain Summit speakers to discuss risk-taking, leadership
There are many challenges facing retailers when it comes to having a focused and efficient supply chain, and NRF has assembled three experienced leaders to get your multichannel strategy on track. Rajan Penkar, senior vice present and president of supply chain for Sears Holdings Corp. will headline NRF's Global Supply Chain Summit, May 6 to 8 in Atlanta, and will discuss supply chain implications of an integrated retail model. Alison Levine, adjunct professor at the U.S. Military Academy, will draw on her experience as team captain of the first American Women's Everest Expedition to share the importance of taking risks and developing teams prepared for the unpredictable. And Kirk Lippold, commander of the USS Cole, will emphasize the importance of leadership and accountability in the crux of a difficult situation. Learn more and register.
| SmartQuote | | | |  | We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next 10."
--Bill Gates,
American businessman, software engineer and philanthropist  |
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