International Business Council

Tesco Shows Volume Growth

The New York Times reported on April 14 that British retailer Tesco has reported positive sales results. “’More customers are buying more things more often at Tesco, said [Dave Lewis, Tesco’s chief executive], highlighting a fourth-quarter British volume growth of 3.3 percent and a 2.8 percent rise in customer transactions.” For more information, please click here.…

Sainsbury Wins Battle for Argos Owner, Home Retail

The Wall Street Journal reported April 1 that “Home Retail Group PLC … said it will recommend J Sainsbury PLC’s £1.4 billion ($2.01 billion) takeover of the company, ending a four-month-long battle to buy the Argos owner. “Sainsbury’s said Home Retail directors unanimously recommend its offer, which will be made through a court-sanctioned scheme of arrangement and is…

Home Retail Group shares soar as Steinhoff beats Sainsbury’s offer

The Guardian reported today that the parent of Argos, Home Retail Group found another bidder. As the Guardian reported, “Shares in Argos owner Home Retail group jumped 12% on Monday after the emergence of a £1.4bn rival offer from the South African retail group, Steinhoff.” For more information, click here.…

Lost in translation – Wal-Mart stumbles hard in Brazil

Reuters reported today that Wal-Mart’s challenges in Brazil continue to grow. The story says that “Some securities analysts have speculated Wal-Mart could exit Brazil, as well as other markets in Latin America where it is already closing an additional 55 stores.” For more information, please click here. …

Brazil Retail Sales Fell 4.3% in 2015

The Wall Street Journal reported Wednesday that “Brazilian retail sales declined in 2015 for the first time in more than a decade, as Latin America’s largest economy shows no signs of recovery from recession. “Retail-sales volume fell 4.3% last year, compared with the prior year’s expansion of 2.2%, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday.…

Thirty-five percent of Chinese online shoppers bought goods from overseas

China Daily Europe has reported that Chinese consumers are reaching across borders to buy products. Several findings include: The United States remains the most popular destination for Chinese cross-border online shopping, while in 2015 Japan and South Korea took second and third place respectively. The overall incidence of Chinese cross-border online shopping has increased…

Lowe’s, Home Improvement Retailer, to Buy Rona of Canada for $2.28 Billion

North Carolina-based retailer, Lowe’s announced that it has “reached a friendly deal to acquire Rona”, a Canadian chain. According to the New York Times, “The acquisition will make Lowe’s the dominant home improvement company in Canada.” Read more here. …

Informing Innovation: An Interview with Stephen Konkle, U. S. Small Business Administration

By Vicki Matranga Design Programs Coordinator Based in Chicago, Stephen Konkle is the Illinois District Office International Trade Officer at the U.S. Small Business Administration (SBA). Before joining the SBA, Konkle worked in treasury and accounting positions for manufacturing firms. He holds a B.A. in economics and an MBA in finance. Stephen, what is the most exciting or…

Sainsbury Agrees on $1.9 Billion Deal for Home Retail Group

The Wall Street Journal reports that UK supermarket retailer Sainsbury has struck a deal to buy Home Retail group, parent of UK retailer Argos. Details are available from the Wall Street Journal here. (Subscription required) IBC Members may view the Key Retail Profiles on Argos and Sainsbury here. If you are a current IBC Member and need assistance with your username and…