KFC parent Yum Brands reported quarterly profit that missed Wall Street's view as inflation in China cut into margins in there, its top market.
Rising food and wage costs as well as expenses related to extending operating hours and building new restaurants in China have cut into margins for the company, Yum spokesman Jonathan Blum told Reuters.
The company has been raising prices in China to offset higher costs but that hasn't appeared to hurt demand as traffic rose in the quarter.
Rovio Entertainment Ltd, the developer of Angry Birds, expects its China revenue to triple in 2012, thanks to booming license income from Angry Birds products such as T-shirts, toys and amusement parks, Paul Chen, Rovio China's general manager, said on Friday.
Rovio on Friday opened an Angry Birds brand store in Shanghai, the first one outside its home base in Finland. The store in Xujiahui area, which sells licensed apparel and iPhone cases, is the first of 25 such outlets scheduled to open in China by the end of this year.
Carrefour, the world's largest retailer after Walmart, is learnt to be rationalising its expansion plans in India, prompted by a worsening global economy, particularly in Europe.
Pune was a major destination the France-based chain was looking at for its cash and carry (wholesale) operations, but that's now on the backburner, according to two sources. Some of the other store openings it had planned in the country for 2012 might also get delayed, they said.
Hong Kong, Singapore, Shanghai, Beijing and Tokyo are among the top 20 cities where international retailers have the largest presence, according to the 2012 edition of How Global is the Business of Retail? by global property adviser CBRE.
According to the fifth annual edition of the Global Retail Theft Barometer, retail shrinkage rate in Japan is 1.04 percent of sales, the third-lowest in the world. However, this rate was up 4 percent compared to the previous year. The total shrinkage amount – profit loss due to customer and employee theft, supplier/vendor fraud and administrative errors – in Japan reached JPY774 billion (USD9.96b), the second-highest worldwide, representing almost 53 percent of the total sum in the Asia-Pacific.
Swiss luxury goods group Richemont on Thursday posted a sharp increase in fiscal 2011 profit, driven by strong sales growth across all segments and regions.
Sales increased 33 percent to EUR6.89 billion (USD9.85b) for the year ended on 31 March 2011 from EUR5.18 in the previous year. Gross profit rose 38 percent from EUR3.19b to EUR4.39b. Operating profit jumped 63 percent to EUR1.36b, double the rate of growth in sales.
Barbara Wold has more than 45 years of first-hand retail experience, and is one of the industry's most sought-after speakers and consultants. These are her tips for "How to Make Your Business Run Better and More Profitably":
The increasing spending power of consumers in Asia has been a boon to many industries thanks to the economic recovery, including the major household appliances sector which has managed to bounce back from its weakened performance of last year.
Chinese spenders are projected to become the largest luxury consumer group, spending USD102 billion on luxury goods for 2013, accounting for nearly half of global luxury sales which is expected to hit a new record of USD217 billion, according to the recent China Luxury Report released by Fortune Character Institute in Shanghai. Although the report points to an easing in the global luxury market, there is optimism about the Chinese market.
As the year-end festive season approaches, Singaporeans are increasingly turning towards online shopping to procure gifts for their loved ones. According to a comScore study on emerging retail behavior, Singapore’s online shopping volume is forecasted to reach USD4.4 billion in 2015. In Asia Pacific, Singapore is also ranked #4 in Asia-Pacific for online shopping volume.