UK Retail:
UK retailers report strong May sales after lockdown ends. UK retail sales surged in May by the most since the Covid-19 pandemic began as shoppers returned to high streets across the country after lockdown measures were relaxed, according to industry figures.The British Retail Consortium said total sales increased by 10% in May compared with the same month in 2019, Spending on essential items was bolstered by face-to-face purchases at food and drink specialists, where cardholders paid out 69% more than in May 2019.
UK Retailers Rent:
Two-thirds of UK retailers face legal action in July over unpaid rent. according to a survey of retailers conducted by the British Retail Consortium (BRC), almost 30% of retailers say they have already faced County Court Judgements (CCJs) from commercial landlords, while 60 percent of landlords have given tenants less than a year to pay back rent arrears accrued during the pandemic. The Government introduced a Code of Practice last year to address the outstanding debt issues. However, BRC’s survey found two-thirds of retailers described the Code as ‘ineffective’ due to its voluntary nature.
US Retailers’ inventory :
US retailers are struggling to meet demand as surging consumer spending combined with shortages of shipping containers, trucks and warehouse space push inventories to historic lows and spark fears over stock levels for the holiday season. Chains from Costco to Dollar Tree have warned in recent days that port congestion is raising freight costs and lengthening the time it takes to bring goods into the US. Stores that carried about one-and-a-half months’ worth of stock before the pandemic had their inventories to sales ratio fall to just 1.1 by March, the lowest level since at least 1992, according to US Census Bureau data.
Telal Dubai :
In the middle of the pandemic, a Dubai fashion retailer has reported a surge in sales after it launched a special fleet of buses fitted out to resemble one of their stores, which can drive directly to customers and offer an alternative to online shopping. Telal Gents Fashion converted a fleet of buses, containing a selection of their products similar to what is available online and in their stores. Customers can order a shopping session and the bus will drive directly to them.
Singapore :
Singapore retail sales jump 54% in April from last year’s Covid 19 Pandemic’s impact. It fell short of the 58.6 per cent increase expected by analysts polled by Bloomberg.This made for a third straight month of retail sales growth after a 24-month-long year-on-year slide. All segments registered jumps in turnover except for supermarkets, hypermarkets, minimarts and convenience stores. Takings at these places reversed their growth streak from last year, when more people stayed at home and bought groceries during the circuit breaker period.
Kraft Heinz :
The Kraft Heinz Company announced today that it has reached an agreement to purchase Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at approximately $100 million. Assan Foods is a rapidly growing sauces-focused business with local manufacturing facilities in Balikesir and Izmir that has been a certified production partner for Kraft Heinz since 2019 and offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa.
presented by: Jalal JIHAZI