Retail and consumer goods industry news

21 August 2019
Japan’s four leading convenience banners, 7-Eleven, FamilyMart, Lawson and Ministop will offer a 2% discount for cashless payments starting October. On the spot discounts for nine months… The rebate program launched by the Japanese government coincides with the rise of consumption tax from 8% to 10% in October. The initiative will look to drive consumption and the use of cashless payments. ...
20 August 2019
Chinese online retailer JD.com is reportedly in talks with bankers for US IPO in May next year. Talks still in early stage The company, a joint venture that is 48% owned by JD.com and 10% by Walmart, is seeking to raise around US$500m in an IPO. The talks are still in early stages, and the timing of the stock marketing offering, and the actual amount could change. The joint venture secur...
20 August 2019
New CEO believes in the potential of Habitat. Expansion planned for three more countries Mr. Ong Lay Ann, the new CEO for Honestbee, is confident that it is able to expand outside of its Singapore base. Although Honestbee faced recent difficulties and had to stop some of its services , its recently appointed CEO has intiated plans to restart the business. It has begun an i...
16 August 2019
Hong Kong-based Convenience Retail Asia (CRA) has posted a solid set of results for the first half ending 30 June, with Group revenue increasing by 5.0% YoY to HKD2,703m (US$344.7m). Circle K’s comparable store sales increase 4.4% again Circle K's comparable store sales increased 4.4% YoY – matching what it achieved this time last year. This contributed to total sales of HKD2,185m (US$278.6...
16 August 2019
FamilyMart UNY Holdings is planning increase its stake in Pan Pacific International Holdings (PPIH) Corporation. Not the first acquisition attempt… Earlier this year, FamilyMart UNY failed to secure enough shares to make PPIH’s Don Quijote an affiliate. It is unclear how the potential deal might impact Don Quijote should it go ahead.  FamilyMart UNY Holdings currently owns a total of 7,72...
16 August 2019
Matsumoto KiYoshi is reportedly in talks with Kanagawa-based Cocokara Fine on an acquisition deal. Merger would create Japan’s largest drugstore chain Should the deal go ahead, the merger would create a drugstore chain significantly larger than close and current market leader Welcia Holdings operated by Aeon. Drugstores like Matsumoto KiYoshi selling food, soft drinks and liquor has alre...
15 August 2019
Alibaba has announced its financial results for the first quarter ended June 30, 2019. Total revenue was up 42% to CNY114,924m (US$16,741m) YoY. Continue to invest in technology In a press release, Daniel Zhang, Alibaba’s CEO, said, “ We will continue to expand our customer base, increase operating efficiency and deliver robust growth. With strong cash flow from our core commerce business...
14 August 2019
Chinese ecommerce company JD.com reports second quarter revenue that topped market expectations and a net profit, following a loss in the same period last year. Investments beginning to pay off The company reported net revenue of CYN150bn (US$21.9bn), a 22.9% year-on-year rise, for the April to June quarter, exceeding the market consensus of CYN147.5bn. Net income attributable to ordinary s...
14 August 2019
Alibaba is reportedly in talks with NetEast to acquire its cross-border ecommerce platform Kaola . Ecommerce landscape consolidating While neither Alibaba nor Kaola have commented on the potential deal, Sina Finance reports Alibaba could pay as much as US$2bn for the takeover. Alibaba could merge Kaola with Tmall Global, sharing logistics and expertise to drive growth. For the longer term,...
14 August 2019
7-Eleven in Japan will discontinue its 7pay cashless payment service next month. Rebuilding trust essential A security breach of the payment service after the launch on July 1 exposed user data. The retailer has decided to discontinue the service at the end of September. Following this incident, we expect new initiatives, particularly those that use technology, to be rolled-out more cautiou...