Hong Kong casual wear chain Giordano International closed 163 stores in mainland China in the first quarter of 2013 but the clothing retailer said it will open shops in markets with strong growth potential, such as in South East Asia and Saudi Arabia and new markets like Japan, South Africa and South America.
Giordano said on Tuesday sales for the quarter ended on 31 March 2013 increased by 6 percent to HKD1.51 billion (USD194.5 million) from HKD1.43b in the same period last year. Brand sales and comparable store sales declined 2 percent.
Tesco, the world's third largest retailer, plans to expand its property-owned chain of stores in south China to 15 to 20 within the next five years.
China Daily quoted Tesco Property Limited operation manager Chen Pei as saying the company would continue the policy of purchasing land and build their own properties in China.
Chen said the move aimed to maintain sustainable development in the country amid a fierce retailing industry.
National Book Store of the Ramos family continues to expand its business on the back of the Philippines' strong economic growth even as it takes steps to list at the Philippine Stock Exchange through Vulcan Industrial & Mining Corporation.
In an interview after the annual stockholders' meeting of Atlas Mining and Development Corporation, Atlas executive vice president Adrian Ramos said they will be opening 10 to 15 stores nationwide this year. NBS had 165 stores as of the end of 2012.
The influx of foreign retailers into Indonesia is boosting demand for retail space and shopping mall development, a global property consulting firm says.
According to Anton Sitorus, the head of research at Jones Lang LaSalle, several international retailers have announced plans to enter the country or expand their presence, including Japan's largest clothing retailer, Uniqlo, South Korea's Lotte Department Store, French department store Galeries Lafayette, and US apparel retailer H&M.
GPO, Melbourne's premier shopping destination for leading contemporary fashion, is set to undergo another costly redevelopment as the USD81-million premium retail centre battles competition from the new Emporium centre under construction nearby on the old Myer site. But owner ISPT said the GPO was "not closing" and would "definitely not" become a hotel, denying claims on social media that the retail precinct was "dead" and plans were under way to transform the heritage-listed property into boutique accommodation.
China is set to become the world's largest online retail market this year, according to the Chinese Ministry of Commerce, but this isn't stopping China's e-tailers from expanding to all corners of the globe.
Thailand's Siam Future Development Plc (SF) has announced plans to double its domestic retail development business over the next five years.
Nopporn Witoonchart, CEO of the community-mall developer, said the company will develop two or three new shopping complexes in each of these next five years. Each project will cost THB500 million to THB1 billion, with most of them in Bangkok.
India was home to the fastest growing online market among the BRIC (Brazil, Russia, India and China) nations last year, growth that is fuelling a booming e-commerce market.
The number of unique online visitors in India grew 50 percent in the 12 months to November 2012, according to internet analytics firm comScore, outpacing the likes of China and Brazil, which grew just 2 to 3 percent each.
Retailers in Australia are bracing for an even more challenging year as the doors open on another flood of high-profile international labels and consumers search for online bargains.
The European group H&M is tipped to secure a site in Sydney within the next few months, while Finnish retailer Marimekko took over 66 King Street last year as its Sydney flagship store.
And a number of new developments are aimed at providing the appropriate flagship stores for international retailers, all of whom want to open with a flourish.
While e-commerce companies have plunged into ever-increasing competition in the Chinese domestic market, some are trying their luck outside China to find other ways to fuel growth. A number of Chinese e-commerce players, including Jingdong Mall, dubbed China's amazon.com, and online clothing retailer Vancl (Beijing) Technology Co., have already stretched their reach globally with different approaches.