Asia – Page 28
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News
Lawson to acquire HMV Japan for £14m
Convenience store retailer Lawson is to acquire music and video retailer HMV Japan on December 1 for ¥1.8bn (£14m). All of HMV Japan’s shares will be purchased from Daiwa Securities SMBC Principal Investments Co. HMV Japan runs 37 stores in Japan. Lawson hopes that the acquisition will help boost its ...
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AnalysisA world of international retail opportunities
Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher
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News
Anti-Japan protests close Isetan Mitsukoshi store
Japan-based department store group Isetan Mitsukoshi was forced to suspend operations at its store in Chengdu in Sichuan province in China due to violent anti-Japan protests. As Japanese retail stores may remain targets of protests, it is uncertain whether Isetan Mitsukoshi can implement store opening plans in China. At present, ...
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News
Higher than expected sales for Indian retailers during Diwali
Indian retailers reported higher than expected sales during the festive Diwali season, with premium electronics emerging as one of the strongest categories. Products such as 3D, LED and large LCD and plasma televisions, white goods, branded clothing, cameras and Smartphones were among those pushing up average bill sizes by 15% ...
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News
Ikea aims to double stores in China
Ikea has said it aims to more than double the number of stores in China to 18 by 2015, from the current eight. As part of this plan, shopping centre construction company Inter IKEA Centre Group is to open its third mall in China, in Wuhan, Hubei province. IKEA China ...
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News
Ikea to enter South Korea
Ikea Group president and chief executive Mikael Ohlsson has reiterated comments made on a recent trip to Delhi that the retailer is preparing for market entry into South Korea. He has also confirmed the retailer’s plans to enter the Croatia and Serbian markets in the next few years.
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News
Toys R Us claims it won't be opening stores in India
US-based toy retailer Toys R Us has said it won’t be opening stores in India, following reports of a link-up with Reliance Retail. The company released a statement of denial after various news sources reported a link between the two retailers.
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News
Seven & I Holdings profits rise 91% in Q2
Convenience store owner Seven & I Holdings reported net profit rose 91% in the second quarter ended August 31 compared with the previous year, thanks to the strong performance of its convenience stores and the unusually hot summer. The company reported a net profit of ¥38.13bn (£292m) compared with a ...
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News
Fast Retailing expects profits to fall next year as global competition toughens
Fast Retailing expects its profits to fall next year as global competition toughens. The Japanese company said it expected operating profit to fall 14.3% to ¥113.5bn (£869m) for the year to August 2011, despite managing a 21.9% increase in operating profit in the year to August 2010. The company said ...
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News
South Korea parliament considers limits on supermarket business
The country’s parliament is considering two bills that would impose restrictions on the opening and business of large supermarkets. Under one bill, currently passing through parliament, opening an urban supermarket with an area of between 10,760 sq ft and 32,290 sq ft would require permission from the local government. ...
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NewsAsia and Fresh & Easy give Tesco a little help
Food retail stocks lagged both their general retail peers and the market as a whole again despite a robust set of half-year results from Tesco.
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AnalysisSlow road to South Korea will help Ikea’s prospects
Ikea has reported that group sales for the year ended August 31, 2010, rocketed 7.7% to €23.1bn (£19.2bn).
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News
Walmart's Indian JV calls government to remove wholesale trading restrictions
Walmart’s Indian joint-venture, Bharti Walmart, has called for India’s government to remove restrictions allowing FDI-backed wholesale firms to sell no more than 25% of their total turnover to a group retailer.The latest relaxation in FDI rules by the government lifted restrictions on products being sold only for internal use. However, ...
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News
Reliance Retail to enter smaller towns and introduce grocery home delivery
Reliance Retail is pushing ahead with a rapid expansion drive, which will include entry into smaller towns and the introduction of a home delivery service for groceries. The plan is to expand its presence in urban markets, moving from Tier I and Tier II cities down to Tier IV cities ...
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News
Matahari to accelerate hypermarket expansion
Retailer Matahari will aggressively grow its hypermart banner, parent company MPP announced. “We currently have 50 hypermart stores in Indonesia and will accelerate the expansion from seven stores per year to 10 to 15 stores,” said a spokesman.The existing hypermart formats will be upgraded and IT infrastructure strengthened in order ...
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News
PTT withdraws bid for Carrefour's Thai assets
Local energy giant PTT has reportedly withdrawn a bid for Carrefour’s Thai assets. Thailand’s largest energy company by revenue apparently faced opposition to the bid from “important stakeholders”, prompting it to ask its subsidiary, PTT Retail Management, not to participate, the company said in a statement.
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OpinionBrazil finally comes of age
The Goldman Sachs Conference in New York last week assembled a powerful line-up of more than 50 leading retailers.
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News
Lawson to increase capital spending to aid expansion
Japanese convenience store chain Lawson will increase its capital spending to $50m (£32m) in China during 2011, with the aim of opening about 130 convenience stores.Cities earmarked for additional stores include Shanghai, Chongqing, Shenyang, Dalian, Chengdu and Beijing. Lawson president Takeshi Niinami said: “It’s time to go to China. We ...
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AnalysisTesco’s Far Eastern promise
Combining its global scale with local knowledge is key to Tesco’s growth in Asia, incoming chief executive Phil Clarke tells Jennifer Creevy