Law

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.

Retailers welcome move to deregulate trading hours in Western Australia

Source: 
Retail In Asia

The Australian National Retailers’ Association (ANRA) welcomed the recommendation of the Economic Regulation Authority’s draft report to fully deregulate trading hours in Western Australia.

“Today’s recommendations are clearly sensible and show an understanding of the value of retail to the economy and its capacity to create jobs," said ANRA CEO Margy Osmond. “There’s no doubt flexible trading hours benefit employees, consumers and the economy. Technology and the changing demands of shoppers means consumers want more choice."

Shrink is a growing challenge facing Asian retailers

In the latest survey shrink remains a significant operational challenge for retailers around the world, with loss rates ranging from 1 percent of sales in Japan to 1.6 percent in Mexico and Brazil.

Rakuten workers asked online merchants to falsify prices

Source: 
The Japan Times Online

Employees of online shopping mall Rakuten Inc. instructed merchants to falsify prices of products in violation of consumer protection laws, according to some of the internet mall's tenants.

Rakuten revealed the price mislabelling last November for special sales honouring the victory by the Rakuten Eagles in the Japan Series, but without discussing whether its own employees had been involved in the illegal act.

Uniqlo set to boost staff status

Source: 
The Japan Times Online

Fast Retailing Co. plans to turn about 16,000 of the 30,000 part-timers at its domestic Uniqlo casual clothing stores into regional regular employees, company sources said on Wednesday.

The company has begun interviewing candidates for regular employment with the aim of implementing the plan over two to three years, the sources said.

The measure, aimed at giving part-timers stable employment, could save training costs for part-timers and would not necessarily increase overall costs by much, they said.
 

Westfield creates future ready HR platform with Wipro

Westfield, one of the world’s largest shopping center portfolios with 90 centers in Australia, New Zealand, USA and UK, partnered with Wipro to create a future ready Human Resources (HR) platform.

Wipro EasyU, an offshore upgrade lab and innovation tool, assisted Westfield in comprehensive impact analysis of their application landscape and accelerated the upgrade of custom components.

John Lewis to give all employees bonuses

Source: 
Chinapost.com.tw

Far from the astronomical incentives accorded to a select few at Britain's banks, clothes-to-food retailer John Lewis Partnership is paying all of its staff an annual bonus worth 15 percent of their salaries, earning praise for its co-operative structure.

 

Seven & I welcomes 1,219 recruits in Japan

Source: 
The Japan Times Online

Seven & I Holdings Co. welcomed 1,219 new employees to its 14 group companies on Thursday, up 39 from a year earlier.

The extra recruits this year reflect expansions in its group companies. The convenience store chain, 7-Eleven Japan Co., plans to open a record 1,600 new outlets through next February.
 

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