LONDON, March 13 (Reuters) – European retailers are flocking
to list in 2014 but traditional high-street chains are notable
by their absence, replaced instead by the online, discount and
convenience players that are shaking up shopping.
The flood of retail initial public offerings (IPOs) after a
long drought is partly driven by recovering consumer confidence,
but also by the fundamental changes wrought on the industry by
the advent of e-commerce and shifting shopping habits.
LONDON (Reuters) – British online grocer Ocado sees Amazon’s push to sell more groceries as more of an opportunity than a threat, believing it will encourage big international retailers to look for partners to help them get set up in e-commerce.
“What Amazon is clearly doing is awakening the global grocers to the online challenge they are going to face and they are accelerating the opportunities for us as a platform partner provider,” Ocado Chief Executive Tim Steiner said on Thursday.
LONDON, March 12 (Reuters) – Tesco Plc Chief
Executive Philip Clarke does not feel investors are running out
of patience with his leadership even after the market share of
Britain’s biggest retailer fell to a decade low, he said on
Tesco, the world’s third-largest retailer, is 22 months into
a turnaround programme under Clarke, but sales are still falling
at its 3,150 British stores despite spending on refits, more
staff and new product ranges.
BERLIN, March 10 (Reuters) – Initial inspections of
Bangladesh garment factories organised after the collapse of the
Rana Plaza complex have found safety problems including
overloaded ceilings, exposed cables and locked fire escapes, an
industry-backed group said on Monday.
Working conditions in the $22 billion industry have been
under scrutiny since the April, 2013 collapse of Rana Plaza in
which more than 1,100 workers were killed. A November 2012 fire
at another factory also resulted in 112 deaths.
BERLIN, March 10 (Reuters) – German retailer Westwing
predicts designer furniture and home accessories will be the
next big thing in online sales, betting that shoppers will be
attracted by photos, articles and style tips like those found in
Founded in Munich in 2011, shopping club Westwing offers
thousands of furniture and homeware products online daily from
pillows to lamps and sofas at discounts of up to 70 percent in
“flash sales” that last four days. Operating in Europe and
Brazil, it doubled members in 2013 to 12 million.