All articles by Prasanth Katam
Prasanth Katam
October’s top stories: Tesco to face legal action for pay discrimination, eBay to acquire Corrigon
Tesco employees plan to resort to legal action against the UK supermarket chain for alleged age and gender discrimination after it reduced the rates of wages for night and weekend shifts. eBay has signed an agreement to buy Corrigon, a provider of visual search technologies. Retail-insight-network.com wraps up the key headlines from October 2016.
Starbucks to expand retail footprint globally
Global coffee chain Starbucks plans to increase the number of its outlets in the Americas by over 20% by opening more than 3,000 new stores and renovating several outlets over the next five years.
Aaron’s revenues increase in third quarter
US-based specialty retailer Aaron’s has posted a 9% increase in revenues to $529.5m in the third quarter ended 30 September, compared to $484.7m in the same quarter last year.
Ikea’s $2bn retail plans in India step further as sourcing norms ease
Sweden-based furniture retailer Ikea’s retail plans for India have stepped further, with Indian government relaxing some conditions on overseas investment in single-brand retail segment.
Multi-brand FDI will curb counterfeit goods in India, says panel
Allowing FDI in multi-brand retail is expected to address the concerns over the sale of counterfeit products in the Indian market and eliminate intermediary players involved in the production, says a panel of a seminar held in Ahmedabad, India.
Walmart seeks local suppliers in India
US retail major Walmart is looking to forge a series of partnerships with small and medium suppliers in India to offer competitive prices to customers in the country.
Levi Strauss revenues drop in Q3 of 2012
American denim brand Levi Strauss & Co has reported net revenues of $1,041m for the third quarter of 2012 fiscal.
Facebook expands e-commerce testing with new features
Social networking major Facebook has introduced new features such as ‘want’ and ‘collect’ to further increasing its reach in the e-commerce space.
General Mills Q1 profit up by 35%
US-based food company General Mills has reported a 35.3% increase in profit to $548.9m for the first quarter (Q1) ended 26 August 2012.
UK retailer John Lewis Partnership revenues increase
UK-based John Lewis Partnership, the owner of retail businesses John Lewis and Waitrose, has reported 8.6% increase in revenue to £3.9bn in the half year ending 28 July 2012. The company has announced its interim, unaudited financial results on 13 September.