Law

Toys "R" Us Australia accumulates USD344m in losses

Source: 
The Sydney Morning Herald Online

Toys "R" Us, the self-described "world's first toy supermarket", has racked up accumulated losses of almost AUD450 million (USD343.9m) since arriving in Australia.

The US-based toy and baby products retailer has operated in Australia for more than two decades. It has more than 30 stores, 11 Babies "R" Us Superstores, online operations and about 1600 employees.

Researchers IBISWorld said it had lost market power over the past five years, but was the second-biggest player in the AUD850 million toy and game retailing industry.
 

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).

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.

Metro China upgrades e-commerce platform to provide seamless customer experience

Metro China has upgrade its e-commerce platform metromall.cn – which integrates online, offline and mobile channels for a seamless customer experience, the wholesaler said on Tuesday.

Google's e-commerce plans in question as executive departures mount

Source: 
CNBC

A year ago, Google's commerce initiatives finally seemed to be clicking. Its same-day delivery service, Google Express, was a hit with consumers in San Francisco and its business selling paid product ads in search was, by most accounts, a big success with big retailers.

How quickly things change. In November, Tom Fallows, the architect of Google Express, stunned employees by leaving for a role at Uber. Then, this month, Fallows's well-regarded boss, Sameer Samat, followed him out the door to become president at Jawbone, the health-tracking device maker.

Starbucks, Spotify to enter music partnership

Source: 
CNBC

Starbucks and music streaming service Spotify plan to strike a music partnership that will give customers access to exclusive content, Starbucks announced Monday.

The coffee chain's loyalty members will gain access to Starbucks music on Spotify and have input on in-store playlists, among other benefits. The collaboration will start this fall in US company-owned stores, followed by Canada and the United Kingdom.

In addition, Starbucks' US-based employees will receive a Spotify Premium subscription.

Woolworths's Masters accused of deception in battle of the big box hardware chains

Source: 
The Sydney Morning Herald Online

Woolworths' struggling hardware chain Masters has been accused of deception after it walked away from a deal to build a store in Bendigo to pursue another site in the regional Victorian town that it knew Wesfarmers' Bunnings chain was circling.

The Supreme Court stoush, which began on Monday, could see Woolworths managing director Grant O'Brien – who was head of the Masters roll out at the time - take to the stand to give evidence about the deal. The founder of Danks hardware chain Graeme Danks will also take to the witness box to explain his role in the transaction.

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