Russia’s Retail Trade Turnover up 7.3% YOY in 2021 — Rosstat
Thailand’s Central Retail Eyes Metaverse in $3bn Drive to Double Sales
must provide a reason and respect a certain notice period when terminating a partnership. Compliance is monitored by an independent arbitrator, who suppliers can also contact in case of complaints. Source: Retail Detail (https://bit.ly/3LJUWvQ)
Urban Outfitters full-year sales surge, names new North America president
The retail trade turnover in Russia moved up by 7.3% year-on-year in 2021 to 39.2 trillion rubles ($526.5 bln) incomparable prices, the Russian Federal State Statistics Service (Rosstat) said on Wednesday. The retail trade turnover in December 2021 gained 5.4% annually to 4.1 trillion rubles ($55 bln). In 2021, 95.4% of retail trade turnover were formed by trading companies and individual entrepreneurs. The share of retail markets and fairs was 4.6% (in 2020 - 95.3% and 4.7% respectively). Source: TASS.COM (https://bit. ly/3I6qUA3)
LaLaport to make Southeast Asian debut in Malaysia
The retail arm of Thailand’s Central Group will spend more than $3 billion over the next five years to better reach shoppers both online and at stores, with the aim of boosting sales 2.5 times. The group’s listed store operator Central Retail is also experimenting with selling products on the metaverse and will spend up to a quarter of the 100 billion baht ($3.04 billion) investment on technology, CEO Yol Phokasub said as the company released a five-year plan Tuesday. Central Retail aims to expand earnings before interest, taxes, depreciation and amortization by 3.5 times and lift its market capitalization by 2.5 times by 2026 compared with 2021 figures. Part of the plan calls for strengthening the retailer’s omnichannel presence by merging physical and virtual worlds and leveraging new digital technologies to deliver next-level shopping experiences across all business segments. Source: Asia Nikkei (https://s.nikkei.
The Urban Outfitters group has posted a record $1.33 billion of sales in its fourth quarter to mark an increase of 13.9% on pre-pandemic levels two years ago. The owner of the Urban Outfitters, Anthropologie and Free People brands said comparable retail segment net sales increased 14%, driven by strong doubledigit growth in online sales, partially offset by low double-digit negative retail store sales primarily due to reduced footfall. Reporting on the performance of its individual brands, the group said sales at Free People, Anthropologie and Urban Outfitters rose by 49%, 14% and 3% respectively. Source: Retail Gazette https://bit.ly/3t2YZLk
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Amazon is Officially a Supermarket, Much to its Chagrin
Pepkor expands to South America with acquisition of Brazil’s Avenida : SA
Japanese lifestyle shopping mall, Lalaport, is set to open its first Southeast Asian location in Malaysia next month at Bukit Bintang City Centre (BBCC). The Mitsui Fudosan-owned shopping mall is set to open its doors to the public on January 20, featuring a tenant mix of about 400 stores from global and Japanese brands, including those making their first appearance in Malaysia such as Nitori and Nojima. LaLaport BBCC marks the chain’s second international location after Mitsui Shopping Park LaLaport Shanghai Jinqiao, and will also be one of Lalaport’s largest commercial facilities in the world with more than 82,600sqm of floor space. Inspired by ‘modern simplicity’ and ‘Japanese flavor’ design concepts, LaLaport BBCC brings to life a “stylish appearance befitting city center locations complemented by a warm interior design conducive for shoppers to spend the entire day in comfort”. Source: Retail News Asia (https://bit.ly/3v2rkEa)
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Amazon is gradually becoming a big fish in British food retail: total turnover from food and groceries has surpassed the one billion pound mark. For the British Competition and Market Authority (CMA), this was a signal to take action: every British retailer selling groceries worth more than one billion pounds is considered a food retailer and must comply with the Code (in full: the Groceries Supply Code of Practice). This Code is a set of rules surrounding the formation and termination of contracts with suppliers to protect the supermarket chain’s suppliers from exploitation and unfair trading practices. Among other things, the Code stipulates that retailers may not suddenly change their supply contracts. Supermarket chains
JSE-listed Pepkor, which owns retail brands including Pep, Ackermans and Incredible Connection, has acquired Brazilian value retailer, Avenida, effective from 4 February 2022. Pepkor, which is Southern Africa’s largest retailer by store footprint, plans to significantly grow Avenida’s presence in Brazil. Representing less than 4% of Pepkor’s market capitalisation, the transaction enables Pepkor to partner with Avenida’s founder-led management team in Brazil to “unlock significant growth” in the largest economy in Latin America, the retail group said. Pepkor said that after more than two years of research into emerging market opportunities and thorough due diligence by management and various advisors, Avenida was identified as a strong strategic fit. Source: Zawya (https://bit.ly/33x8OrU)
