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.
Retail spending in Australia jumped sharply in January, but economists say it is too early to say if the good times are back for retailers.
Figures released by the Australian Bureau of Statistics show retail spending rose 1.2 percent in January, three times the 0.4 percent rise economists had expected.
JP Morgan economist Ben Jarman said the figures were impressive but were surprising given the relativity weak jobs market and soft consumer sentiment.
About 40 international brands established their first store or first stand-alone store in Hong Kong in 2013, a new report released by Jones Lang LaSalle shows.
These include retailers in fashion & accessories, jewellery and watches, cosmetics, restaurants, skincare and even bookstore coming from America, Europe, Australia and Asia.
Australian billionaire Gerry Harvey has pushed back against market calls for him to spin off Harvey Norman's extensive property assets, valued at AUD2.3 billion (USD2.06b), arguing he would not listen to merchant bankers, real estate agents and other spruikers who had a deep vested interest in carving up the retailer's properties.
Unveiling half-year results on Friday, which showed a 36 percent rise in net profit to AUD111.42 million, the Harvey Norman chairman also said the change in government had yet to deliver a much-needed boost to consumer confidence.
Legendary investor Warren Buffett has sold down his shareholding in ailing Tesco by almost 30 percent.
Results from his Berkshire Hathaway investment company showed Buffett sold about 115 million shares in the retail giant last year, 35 million more than previously reported, leaving him with just over 300 million, or about 3.7 percent of the company.
Food delivery company Food Runner, which has operations in Singapore and Malaysia, has acquired the Philippines’ leading delivery company, City Delivery.
With the acquisition, Food Runner will be able to add hundreds of restaurant partners, tens of thousands of customers, and would increase its food delivery sales by over 50 percent.
Shortly before the start of 2013, numerous surveys have begun speculating e-commerce trends for the year. Online retailers were told to look out for three key trends − deliver a personal touch; curate their commerce; and integrate their business with mobile commerce.