 Global retail industry news |  | - Starbucks targets China for expansion
Starbucks CEO Howard Schultz said the company has survived the economic downturn but remains aware of challenges ahead. He described plans to triple the number of Starbucks cafes in China, open new types of outlets and offer more products through grocery stores. "No one at Starbucks is doing a victory lap," Schultz said. "We are still dealing with a very fragile economic situation. [But] we are as hungry and as motivated as any other time in our history to win." MSNBC/The Associated Press (01 Dec.)         - United Arab Emirates retailers predict sales growth
Mohi-din Bin Hendi, president of Bin Hendi Enterprises, said the company that sells Gianfranco Ferre, Hugo Boss and Porsche designs in the United Arab Emirates, is beginning to see an increase in traffic as the country recovers. "During the heydays we were spoiled. We wanted 100% profits and 100% returns," he said. "If we the retailers have survived until now, we will also survive the coming years." ForexYard/Reuters (01 Dec.)         - Coles blasts S. Australia's holiday trading restrictions
Ian McLeod, managing director of grocery retailer Coles, scrutinised South Australia's requirement that shops close for five days over the Christmas and New Year holiday period. The trading blackout is bad for workers as well as consumers, said McLeod. "To add insult to injury, the state government has forced supermarkets to close at 6 p.m. instead of 9 p.m. on both Christmas Eve and New Year's Eve, two of the busiest days of the year, limiting the time that workers have to do last-minute shopping," McLeod said. The Sydney Morning Herald (Australia)/Australian Associated Press (02 Dec.)          | Cutting CPA Costs — but not corners By Jon Bell, September 28, 2010 Tougher reporting requirements that banks and boards are requiring after the recession have mid-size companies leaning on outside accounting firms more than ever. Here's how to get the help you need and keep costs down. |
- Luxury market experiences a recovery, thanks to Chinese tourists
European luxury-goods retailers have enjoyed a significant recovery after the decline of 2009, with Chinese tourists contributing to the boost in sales. For example, Bulgari CEO Francesco Trapani said Chinese consumers have been "a big factor" in the company's 11% increase in quarterly sales. Retailers are concerned, however, that some of the retail strength could deteriorate if the euro rises. The Wall Street Journal (02 Dec.)         - International sales help bolster Kingfisher
Kingfisher, the do-it-yourself retail group, said a decline in UK sales was offset by a strong performance at the company's international operations. Kingfisher recorded an 8.2% increase in third-quarter profits, with 80% being generated overseas. "We are well prepared to trade effectively in these challenging times and we continue to lay solid foundations for sales and profit growth in the future," said CEO Ian Cheshire. The Daily Mail (London) (02 Dec.)          | This report provides a review and assessment of the strategic innovation options that CPG companies should examine. It also covers the need to develop a coherent innovation strategy across categories and platforms and for alignment with overall corporate strategy: Click here to find out more. |
- Future Group's Biyani supports opening retail to FDI
Kishore Biyani, head of Future Group, said he supports the idea of opening India's retail sector up to foreign direct investment. "The retail industry in India needs access to more capital. Any form of competition is good for the business," Biyani said. "We are ready for it." He also said he would be interested in collaborating with overseas retail brands. India Today (02 Dec.)          | Leadership lessons from USA Basketball Discover the tactics that Jerry Colangelo employed to pull USA Basketball out of its Olympic losing streak. Learn how Colangelo and Coach K built a team that could compete in an international arena — and how to adapt your leadership style to gain the same type of success. Check out Sustaining the Leadership Edge. |
- Italy's Yoox to tap into Chinese demand
Yoox, an online fashion retailer based in Italy, is planning to launch several online outlets in China in the first half of 2011. Yoox has established a Shanghai-based Chinese subsidiary and also plans to open Thecorner.com, a multibrand store, in the second half of next year. Reuters (01 Dec.)          |  |  |  | HR Executive's Guide to Web 2.0 — Cracking the Code for Talent Management "Web 2.0 tools have allowed for greater flexibility to promote ideas and keep our customer facing staff up to date with changes to product, service and regulations" - Alastair Shakeshaft, Telegenica Limited Learn how best-in-class organizations are taking advantage of Web 2.0 technologies and tools to improve key recruitment, engagement, and performance metrics. |  |  |  |  |
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