Labor

Target’s closure of Canada stores a ‘difficult’ decision

US-based Target Corporation recently announced that it is closing all its stores in Canada and is about to begin a court-supervised winding down of its Canadian businesses.

Brian Cornell, Target Corporation Chairman and CEO, said the move was a ‘difficult’ decision, but the right one for Target.

“We had great expectations for Canada but our early missteps proved too difficult to overcome,” he said.

Global companies set sights on India's e-commerce market

Source: 
The Hindu Business Line

Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.

Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.

Dick Smith's IPO to open opportunities for investors in Australian electronics business

Australia's largest retailer of consumer electronics products announced plans of listing on the Australian Securities Exchange (ASX).

Dick Smith Holdings Limited (Dick Smith) lodged the prosecutes for the Initial Public Offering (IPO) with the Australian Securities and Investments Commission (ASIC) on Thursday.

Based on a share price of AUD2.20 per share, the company expects the offering to raise AUS344.5 million (USD).

Uniqlo finds wealth of data in Bangladesh not-for-profit venture

Source: 
The Wall Street Journal Online

In Bangladesh's villages and on its street corners, Japanese fashion giant Uniqlo is quietly gathering market data to help it in its ambition of becoming the world's top clothing brand in seven years.

Like other global brands, Uniqlo set up shop in Bangladesh's cities to tap into their cheap labour and make casual fashion wear affordable and profitable. But it has also gone into the country's impoverished villages and neighbourhoods looking for a way to give something back to a country that many said was being exploited by the garment industry.

Avon to cut 1,500 jobs, leave 2 Asia markets

Source: 
The Jakarta Post

Avon Products says it will cut about 1,500 jobs and exit two Asian markets – South Korea and Vietnam – as the struggling beauty products seller takes initial steps toward its cost-cutting goal.

The job cuts amount to almost 4 percent of its workforce and mark one of the first major moves by CEO Sheri McCoy, who was brought on in April to replace longtime CEO Andrea Jung.

Starbucks to roll out 800 new stores, add over 18000 employees in China for next 3 years

Source: 
The Wall Street Journal Online

After nearly 14 years of working to persuade China to buy into its foreign coffee culture, Starbucks Corp. is aiming to become more Chinese as it plans a rapid expansion in the country.

Belinda Wong, president of Starbucks China, said in an interview that Starbucks aims to roll out 800 new stores in the next three years to add to its existing fleet of 700. Over that period it will increase the number of employees to more than 30,000 from the current 12,000.

Global Retail Theft Barometer Study finds shrinkage in Japan is the 2nd-highest in the world

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.

Expert Opinion: Raising the bar for cyberattacks at the Point-of-Sale

Many retailers, large and small, brick-and-mortar and online, had their brands tarnished by cyberattacks in 2014. While news stories focused on Point-of-Sales (POS) breaches, often the initial intrusion took place in the back-office and through a business partner.

Bottom line, to protect their reputation and the trust of their customers, retailers must re-evaluate the level of security currently in place not only in their POS environments but also throughout their value chain and across their business partners and customer touch points.

Japan's fast-food chains face new headache

Source: 
CNBC

Already reeling from a handful of scandals, Japan's fast-food industry faces a new problem: diners are no longer heading out for meals like they used to.

"Japanese consumers are choosing to buy their meals at convenience stores and eat at home," said Japan Food Analyst Association (JFAA) chairman Hiroyuki Kamiya.

China accuses Alibaba of failing to curb fake goods, bribes

Source: 
ChinaPost.com.tw

Alibaba Group Holding Ltd has a "credibility crisis" fuelled by its failure to crack down on shady merchants, counterfeit goods, bribery and misleading promotions in online malls, the Chinese government said.

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