Hong Kong-based Chow Tai Fook Jewellery Group booked double-digit increases in revenue and profits in six months ended September as demand for gold and other luxury goods in China continued to rise. The retailer grew to 2,358 stores in mainland China, with plans to add more locations in China, Macau and Hong Kong.
German discount grocer Lidl opened its first store in New Jersey last week as the retailer ramps up competition in the US with rival German discounter ALDI. The retailers each have global store counts of more than 10,000 locations, and ALDI has set its sights on operating 2,200 U.S. stores within five years.
Natural Grocers by Vitamin Cottage will open up to 10 stores in 2018 and focus on price competition as rivals such as Whole Foods Market cut prices, Co-President Kemper Isely said. The retailer also plans to launch a private-label line in the second quarter.
Neiman Marcus turned to 20 of its millennial staffers to test 300 beauty brands and winnow the pack down to 45, which the retailer has begun selling online and in its new Trending Beauty Shop section at a store in Dallas. The lineup of more than 650 products from brands including Glambo and Paddywax will launch in more stores next year.
Retailers expect to hire up to 550,000 seasonal employees to staff stores and online fulfillment centers this year, more than twice as many as they added during the peak of the recession, according to NRF. Retailers across the board from Amazon to Target are beefing up staffing.
The US International Trade Commission this week recommended that the Trump administration impose import tariff rates on large residential washing machines over the 1.2-million-unit threshold. Such tariffs could benefit Whirlpool, a domestic manufacturer, in challenging LG Electronics and Samsung Electronics.
On Thursday, Amazon will begin testing online sales in Australia with some of the country's registered sellers, according to an email sent to sellers. The e-commerce giant has opened its first Australian fulfillment center in Melbourne.
AmerisourceBergen will pay $815 million for pharmaceutical distributor H. D. Smith with the exception of its Triplefin and Arete Pharmacy Network subsidiaries, according to an announcement. The deal is scheduled to close next year if it meets regulatory and other conditions.
The first step in utilizing a transportation management system is reviewing existing contracts and rates, writes Leon Kohlen. Consistently look for cost savings at every step of the implementation process, he writes.
Shoppers in France are forecast to spend an average of 4% more online this season, and online holiday spending is on track to grow 13% to €15.8 billion, according to France's Commerce Federation. France is the world's fifth-largest e-commerce market.