Walmart Inc is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for over $1 billion, after years of struggling to make money amid stiff competition.
Times may still be tough for Laura Ashley but its fashion business powered ahead in H1 with double-digit growth and the spring collection looks like it could deliver more of the same, it said Wednesday.
Aeon Co Ltd, Japan’s largest retailer by sales, posted a record annual operating profit after a 14 percent jump from the previous year on the back of restructuring efforts, and forecast a further gain this year.
Japan’s economy is gathering steam, profits are at record levels and companies are poised to raise wages, yet retailers are struggling to lift prices for fear of losing customers used to nearly two decades of deflation.
The Printemps Ginza department store in one of Tokyo’s premier shopping districts closed on Saturday after a 32-year history, following the expiration of its license with the Qatari-controlled French retailer.
The Retail Real Estate Market China trade show, to be held in Shanghai on 15th and 16th June, has already announced the attendance of some one hundred retail brands at its conferences and networking events.
Wal-Mart Stores expects its Japan business to focus on remodeling existing stores rather than opening new ones this year, citing fierce competition and consumer reluctance to spend freely amid uncertain economic times.