Business

Department store Parkson taps Vietnam experience for Myanmar push

Source: 
The Malaysian Insider

Seven years after entering Vietnam, Southeast Asian department store owner Parkson Retail Asia Ltd is battling headwinds, but that isn't deterring it from expanding into Myanmar in search of growth.

Singapore-listed Parkson, which has 54 stores criss-crossing Malaysia, Vietnam and Indonesia, was one of the first to enter the Indochina market, and now hopes to apply some of the lessons learnt from Vietnam to Myanmar, where it expects strong consumer spending and economic reforms.

Michael Kors reports surprising 70pc jump in earnings

Source: 
cpp-luxury.com

American premium fashion house Michael Kors reports strong fiscal 2013 first quarter results, including a whopping 70 percent earnings surprise.

As of 30 June 2012, Michael Kors operated a total of 321 stores worldwide, comprising 253 company-operated retail stores and 68 retail stores operated by licensing partners.

Total revenue for Michael Kors jumped 71 percent year over year to USD414.9 million, with solid sales growth in each of the company's business segments and across all geographies drove the upside.

Staying in fashion is a tough sell

Source: 
scmp.com

International fashion labels have turned China into their main battlefield this summer, opening one new store a week as they bid for the spending power of wealthy consumers in the world's number two economy.

Prominent among the labels expanding their presence in China's shopping malls at a time when slow economic recovery in the US and a worsening debt crisis in the euro zone have forced Western consumers to tighten their spending, are Italy's MaxMara, and Gap, the iconic US fashion brand.

Market sentiment in Asia-Pacific retail, industrial & logistics real estate remains subdued

Market sentiment across various real estate sectors in Asia-Pacific remained subdue subdued in the second quarter of 2012, according to CBRE. The commercial real estate services firm has been monitoring the price and rental index in retail and industrial & logistics real estate on a quarterly basis.  In general, the market sentiment in Asia-Pacific was mixed as investors remained mindful of the Eurozone debt crisis. 

Philippine SM Prime plans malls in China and at home

Source: 
scmp.com

Philippine billionaire Henry Sy's shopping mall developer plans to spend PHP63 billion (USD1.51b) in the next three years to add as many as 18 shopping malls at home and in China as consumer spending increases.

SM Prime Holdings, the biggest Philippine retail developer, plans to build four to five malls a year in the Southeast Asian nation. It's also targeting a shopping centre in China every year, says Hans Sy, the firm's president and the billionaire's son.

Indonesia's Matahari has plans for expansion

Source: 
Jakarta Globe

Indonesia's Matahari Department Store is bullish that consumer spending will continue to propel the country's economy, giving the company a solid base to accelerate its store expansion to take advantage of the trend, its CEO Michael Remsen says.

After US & Europe chains, Asian retail group eyes India

Source: 
Business Standard

Once foreign direct investment is allowed into India's multi-brand retail sector, international retail chains Walmart, Carrefour and Tesco may face competition from an Asian player – Malaysia's Parksons.

According to a Parksons spokesperson, the group wanted to set up department stores across Bangalore, Chennai and Delhi. The chain, which sells products ranging from groceries and cosmetics to fashion apparel, plans to invest in India by 2013. So far, only retail chains from the US and Europe have expressed interest in investing in India.

Aeon to open Japanese-style supermarket in China

Source: 
CCFA

Japanese supermarket giant Aeon will work together with the country's largest food wholesaler Mitsubishi Food Ingredient to launch food supermarket business in China. They planned to build a local joint venture in three coastal provinces and start their operations within the year.

Indonesia's fasting month a boon to retailers

Source: 
Jakarta Globe

As Indonesia's Ramadan festive gets underway investors may be focusing on companies, particularly retailers, which tend to benefit from the frenzied spending that accompanies breaking the fast during Ramadan and the ensuing Idul Fitri holiday.

That translates into the biggest spending period and the year's most important holiday season.

"Retailers Mitra Adiperkasa, Ramayana Lestari Sentosa and Ace Hardware should see an increase in sales," said Ivan Chamdani, an analyst with Trimegah Securities.
 

Yum's profit disappoints, hurt by China costs

Source: 
CNBC

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.

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