Shrink cost the retail industry more than USD112 billion globally in 2012, representing an average 1.4 percent of retail sales, according to a study of merchandise availability solutions provider Checkpoint Systems last year.
Another 29 Crazy Clarks and Sam's Warehouse stores in Australia will close and more than 480 employees will lose their jobs following the collapse of parent company Discount Super Group.
The move takes the total number of stores closed to 39, with further closures to be announced this week.
Receivers KordaMentha are looking to close down unprofitable stores while finding buyers for the profitable ones as well as trying to find money to cover about AUD10 million in staff entitlements.
Tyco Retail Solutions has made an equity investment in RetailNext, an innovator in Big Data solutions for retail.
RetailNext offers real-time analytics, particularly in the traffic intelligence space, which allows retailers to collect and analyze in-store data. Tyco said it will leverage this partnership to deliver added value to its global customer base of more than 185,000 stores.
LVMH recently announced the creation of “L’Institut des Métiers d’Excellence” (IME), a program of professional training that will allow the LVMH Group to transmit its wealth of knowledge in craftsmanship to the young generation.
Starting in September, the IME will enable accredited degrees, through paid apprenticeships within the Maisons of the Group.
Store closures have begun at the financially troubled Crazy Clarks discount chain, putting 111 employees out of work.
More jobs will go as another 33 stores look likely to close in the coming weeks.
Discount Super Group (DSG), the owner of Crazy Clarks and Sam's Warehouse, was placed in adminstration on Tuesday, and its receivers plan to sell the profitable stores in order to fund an estimated AUD10 million (USD9.4m) in entitlements owed to workers.
Thai companies are expected to give average salary increases this year of 5.4 percent over 2013 as management pays more attention to retaining staff instead of recruiting new employees, according to an international human resource consulting firm.
Food giant Nestlé has become the first leading manufacturer to commit to paying the living wage.
The firm already pays at least the living wage to its 8,000 staff but the move will benefit contract employees and agency workers. About 800 contractors working with Nestlé will implement it by December 2017.
Mobile applications will play a big part in retail transactions, but as mobile app–enabled sales spread from the early adopters to mainstream buyers, there will be dramatically increased reputational risk associated with app failures or poor customer experiences.
IDC Retail Insights said more effective testing will become increasingly important as the consumer's last best experience will be the benchmark for all others, and customers will increasingly expect mobile devices to play a central role in their shopping.
Over a hundred employees at Big C Supercentre in Thailand's Surin gathered at the entrance of the store late on Friday morning demanding the removal of senior management within 24 hours.
They held placards saying "We do not want No1 Siriporn anymore", and other messages such as "Return happiness to us". The placards did not further identify "No1 Siriporn".
Kamolwan Anwanin, 39, chief of financial analysis at the store, joined in the protest.
Matahari Department Store, one of Indonesia's largest department store operators, opened its 127th outlet at Lippo Mall Puri at St. Moritz, a mall located in West Jakarta, the company said in a statement on Thursday.
The retailer seeks to capitalize on the mall's strategic location on the Jakarta-Tangerang-Merak toll road.