   | Global retail industry news |  |
- Australia's Myer to cut 100 jobs
Australian department store chain Myer will cut 100 of its 13,000 employees in a measure aimed at realigning costs in a tough retail climate, the company said. "While these decisions are never easy, they are prudent and necessary to ensure our business is attuned to our operating environment," said CEO Bernie Brookes. The Sydney Morning Herald (Australia) (12 Jul.)       | 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. |
 - Zara parent won't raise prices despite tax hike at home
Spain-based Inditex won't raise prices on any of its brands, despite a 3% increase in the value-added tax that's expected to drive up costs, the company said. Unlike many rivals, the parent of brands including Zara and Massimo Dutti does a significant amount of its manufacturing in its home country. Women's Wear Daily (subscription required) (11 Jul.) - Carrefour reports better-than-expected quarter
Carrefour's 1.3% drop in second-quarter same-store sales was better than analysts expected, and while things are sluggish, they're not getting worse, the France-based retailer said. The drop was driven largely by slowdowns in European countries hit with economic austerity measures, including Spain and Italy, the company said. Bloomberg (12 Jul.), Reuters (12 Jul.)  | Knowing your customer better comes with undeniable benefits. But challenges arise from behaviorally-targeted advertising with critical caveats on the management of personally identifiable information. Learn to balance profitable marketing, regulation and consumer trust in this FREE white papaer. |
 | Retail in Asia |  |  | | - Cartier CEO: Luxury sales growth slows in China
Cartier's sales of high-end Swiss watches in China are still growing, but not as fast as they did last year, CEO Bernard Fornas said Wednesday. "So many Chinese are buying abroad now because they have made a little calculation and seen it is cheaper to buy in London, Paris, New York or Dubai, than in Shanghai." The Wall Street Journal (11 Jul.) - Brazil's retailers report surprise drop in May sales
Brazil's retail sales fell 0.8% in May compared to April, a surprise to economists who estimated an increase of 0.6%, despite government tax breaks for purchases of furniture, automobiles and other big-ticket items. Sales were up 8.2% from the same month last year, less than analysts' estimates of 10.5%. Bloomberg Businessweek (11 Jul.)  | Where Government Actions Meet Business Decisions.
Understand the impact of legislative, regulatory and spending actions on your business with an online tool featuring customized government-related data, news and analysis.
Visit bgov.com/SeeTheImpact for more information. |
  | Discover Orlando's Dining & Entertainment Districts
From culinary hotspots to energetic nightlife, Orlando makes business trips more rewarding. Boasting six diverse dining and entertainment districts, Orlando provides an atmosphere that's unique and sophisticated for business dinners, networking and team interaction. Find out how business events are just the beginning at OrlandoDistricts.com. |
 | Spotlight on Consumer Electronics | |  | | |  | - Best Buy Canada debuts new price-matching plan
Best Buy Canada has extended its price-matching strategy to online rivals, as part of a larger strategy to combat showrooming and regain market share, said president Mike Pratt. "Showrooming is a completely price-based concept -- it's about the perception of getting a lower price somewhere. When Web pure-play competitors don't have price, they don't have any other advantage, quite frankly." Financial Post (Canada) (12 Jul.) - Vancouver is home to Samsung's 1st N. American store
 Samsung introduced its products in Vancouver as a sponsor of the 2010 Olympics, and the prior relationship made the city a natural for the South Korean tech company's first retail store in North America. The store, which opened Wednesday, is designed to act as an interactive showcase for the company's smartphones and other mobile gadgets. The Vancouver Sun (British Columbia) (10 Jul.) - Microsoft to double store count by next year
Microsoft plans to have 44 brick-and-mortar stores operating by next June, about double the number it has now, COO Kevin Turner said Wednesday at the company's Worldwide Partner Conference. "More and more markets around are going to see the Microsoft Store, and this holiday, on the heels of the Windows 8 launch, we're going to do some holiday pop-up stores throughout." CNET/Microsoft blog (11 Jul.), All Things D (11 Jul.)  | We're Not Just Bankers, We're Builders
GE Capital offers businesses and consumers around the globe an array of financial products and services, helping to build businesses through capital, insight, knowledge and expertise. We're not just bankers, we're builders. Visit GE Capital. |
  | NRF News | | | | - U.S. retail container imports to rise 1.6% in July
As the industry prepares for the back-to-school shopping season, America's major retail container ports will continue to see modest traffic. According to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates, U.S. ports are expected to see an increase of a little more than 1% compared to the same month last year, and year-over-year gains should continue through the holiday season. Read more.
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