Technology
Cavernous malls fail to lure Chinese consumers
The frenzy at the Apple store underscored the rise of the Chinese consumer, a development that analysts say is needed to support the global economy and make China's growth more sustainable.
But the empty SOHO complex cast a different light on what is happening in the world's second largest economy: consumption is rising, but not nearly as fast as vast shopping centres are being built.
Amazon sells 1m Kindles a week
Amazon.com Inc, the largest internet retailer, said it sold "well over" 1 million Kindles a week in December, with record demand led by its Kindle Fire tablet.
Alibaba opens group-buying platform to Groupon and others
Alibaba Group has opened its group-buying platform, Juhuasuan.com, to other industry players such as Groupon's Chinese joint venture firm Gaopeng and the country's leading group-buying website Meituan.
Richemont Asia-Pacific sales post highest growth among all regions in FY11
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.
Charter Hall Retail buys 8 shopping centres from Woolworths
Charter Hall Retail REIT (REIT) has bought eight neighbourhood and sub-regional shopping centres for AUD266 million (USD281.8m) from Woolworths, in joint venture with Telstra Super, one of Australia's largest superannuation funds.
The acquisition is consistent with the REIT's strategy of reweighting to Australia, enhancing income security and growth through investing in quality grocery anchored neighbourhood and sub-regional shopping centres.
H&M sales soar in Apr, thanks to favourable weather
Sales at Swedish fashion giant H&M group soared in April. Total sales increased by 21 percent compared to the same month previous year, calculated in local currencies including VAT.
In comparable units, sales increased by 11 percent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year.
Sales development in April 2011 was affected by a positive Easter effect and favourable weather, according to a statement from the world's No.2 clothes retailer.
Taking Stock: How to make your business run better and more profitably
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":
Daniel Boulud to open db Bistro Moderne at Marina Bay Sands, Singapore
Celebrity chef Daniel Boulud is set to open his eponymous db Bistro Moderne next week at The Shoppes at Marina Bay Sands in Singapore.
Originated from New York, db Bistro Moderne offers an exciting mix of traditional French bistro cooking and contemporary American flavors.
"It's wonderful to be part of such an impressive line-up of restaurants in what I feel is Southeast Asia's most exciting destination," said Boulud, speaking of the six celebrity chef restaurants to open at the resort.
Young HK consumers less optimistic than their older counterparts
The latest MasterCard Worldwide Index of Consumer Confidence revealed that Hong Kong's consumers remain cautiously optimistic as they look ahead at the next six months. However, it also shows that respondents in Hong Kong who are below the age of 30 are less optimistic than their older counterparts.
Although experiencing a marginal dip in consumer confidence from the last survey (74.7 vs. 76.6 six months ago), the latest Index scores for Hong Kong are still notably higher than those of a year ago (60.0).
DFS to open new-concept store in HK's Hysan Place
Hong Kong-based international travel retailer DFS Group Limited will open a new-concept 45,000 square-foot store in Causeway Bay, Hong Kong in 2012.
DFS and Hysan Development Company Limited have reached an agreement to open a new-concept 45,000 square-foot store offering the latest trends in beauty, fashion, watches and jewellery at Hysan Place, a new office and retail building under construction at 500 Hennessy Road in Causeway bay.
