News

Retail and consumer goods industry news

07 August 2013
Target has announced an agreement to acquire the DermStore Beauty Group, a leading independent skin care e-commerce site in the US. Expanding Target’s beauty offer Target’s acquisition will help it to grow its share of the online beauty market, and further differentiate its proposition through leveraging the experience and capability that DermStore has built-up in this area. Recognised f...
06 August 2013
In the third of this year's regular updates on the world's top retailers, we look at developments at Carrefour, Tesco, Metro and Walmart. We see how they have fared in last quarter, and look at priorities ahead. Carrefour better positioned for improvement Carrefour reported sales growth of 1.3% for the second quarter of 2013. The French business is showing signs of improvement , wit...
06 August 2013
India's government announced three amendments to FDI multi-brand retail policy, serving to relax the conditions of investment in the market. Three key changes to policy Fifty percent of first $100m invested to be on back-end infrastructure. This amendment puts a $50m cap on the original policy which stated fifty percent of investment in the first three years must be spent on back end i...
06 August 2013
Greggs has lowered its profit outlook following shoppers not opting for hot savoury snacks during the warm weather. Focus on improving existing stores The company, which operates 1,690 stores has reported a 3.2% drop in like-for-like sales in the first five weeks of the second half. This is a reversal of the improving trends seen in the second quarter, prompting Greggs to downgrade its ex...
06 August 2013
800 convenience stores by 2015 Recognising the increasing significance of its convenience business, which now accounts for 70% of total sales, the new name is believed to better reflect the underlying strategic direction of the business. The retailer is on track to hit its target of 800 convenience stores by 2015 thanks to the ongoing acquisition of stores and the conversion of some newsagen...
06 August 2013
This week will see Tesco open a new family restaurant concept at its remodelled 'destination format' Coventry Arena Extra store. Introducing new restaurant trail called 'Decks' The new restaurant called Decks will highlight real and wholesome British food and feature three 'decked' food service areas, focused on breakfast, carveries and pastries. It is understood that the new concept at Cove...
06 August 2013
Chilean retail group SMU is to divest some of its businesses, including 40% of supermarket chain Monserrat and 100% of the Peruvian wholesaler Mayorsa. Group aiming to reduce debt The holding company, controlled by Chilean businessman Alvaro Saieh, hopes the sale will raise between USD300m and USD400m to reduce its debt. The announcement follows denials last week that such a sale was immi...
06 August 2013
Retailers in the UK had their best July since 2006 as the heatwave and sporting success helped boost consumer confidence, according to the latest figures from the British Retail Consortium (BRC). Retail recovery gaining traction UK retail sales were up 2.2% on a like-for-like basis from July 2012, when they had increased just 0.1% on the previous year. Total retail sales were up 3.0%, ...
05 August 2013
Waitrose has announced that it first half sales have broken the £3bn barrier and bolstered its food quality reputation through the purchase of The Good Food Guide. Impressive first half In the 26 weeks to July 27th, sales increased by 11.0%, excluding petrol (+8.7% including petrol). Commenting on the achievement Waitrose managing director Mark Price said sales growth had been significantly...
05 August 2013
Following an 11% increase in sales for the first half, we take a look at Waitrose's formula for success as it grows ahead of the market... Waitrose grows ahead of the market Waitrose has grown by 37% since 2008, compared with the market average of 14%. Indeed, today brought the announcement from Waitrose managing director Mark Price that sales had exceeded £3bn in the ...