In­ter­na­tional Re­tail in the Green as Big Firms Re­port Prof­its

The re­tail in­dus­try across the globe had much to cheer about in Oc­to­ber, as big­gies Ama­zon and Skech­ers re­ported high prof­its. The un­ex­pect­edly pro­longed heat­wave in the UK also boosted the sale of sum­mer items, last month. A de­tailed look at all that's m

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Ama­zon Re­ports US$ 56.6 Bn Rev­enue in Q3 Rid­ing on its Cloud busi­ness, re­tail gi­ant Ama­ saw its net sales in­creas­ing 29 per­cent to US$ 56.6 bil­lion in the third quar­ter this year, com­pared with US$ 43.7 bil­lion in third quar­ter of 2017. Op­er­at­ing in­come in­creased to US$ 3.7 bil­lion in the third quar­ter, com­pared with op­er­at­ing in­come of US$ 347 mil­lion in the third quar­ter of 2017. Net in­come in­creased to US$ 2.9 bil­lion in the third quar­ter, or US$ 5.75 per di­luted share, com­pared with net in­come of US$ 256 mil­lion, or US$ 0.52 per di­luted share, in the third quar­ter of 2017. “Ama­zon Busi­ness has now reached a US$ 10 bil­lion an­nual sales run rate and is serv­ing mil­lions of pri­vate and pub­lic-sec­tor or­gan­i­sa­tions in eight coun­tries,” said Jeff Be­zos, Founder &

CEO, Ama­zon. “We’re not slow­ing down – Ama­zon Busi­ness is adding cus­tomers rapidly, in­clud­ing large ed­u­ca­tional in­sti­tu­tions, lo­cal gov­ern­ments, and more than half of the For­tune 100,” Be­zos said in a state­ment. Ama­zon gave fourthquar­ter rev­enue guid­ance in the range of US$ 66.5 bil­lion and US$ 72.5 bil­lion.

Ama­zon Web Ser­vices (AWS) an­nounced sev­eral new cus­tomer com­mit­ments and ma­jor mi­gra­tions dur­ing the quar­ter. In the third quar­ter, Ama­zon in­tro­duced a new fam­ily of Echo smart home speaker de­vices. Ama­zon also in­tro­duced the all­new Fire HD 8 tablet, fea­tur­ing an 8-inch HD dis­play, a quad-core pro­ces­sor, 16 GB of in­ter­nal stor­age with sup­port for up to 400 GB more via mi­crosd, up to 10 hours of mixed use bat­tery life, and hands-free ac­cess to Alexa. The num­ber of Alexa-com­pat­i­ble smart home de­vices has quin­tu­pled year to date to more than 20,000 de­vices from over 3,500 brands. Through new tools, in­clud­ing up­dated Alexa Smart Home Skill APIS and the Alexa Con­nect Kit, de­vel­op­ers and de­vice mak­ers can en­able voice con­trol of any de­vice and fea­ture with Alexa. Ama­zon In­dia also an­nounced the launch of ama­ in Hindi. Ama­zon Busi­ness is gen­er­at­ing US$ 10 bil­lion in an­nual sales, serv­ing hun­dreds of thou­sands of busi­ness sell­ers and mil­lions of cus­tomers across eight coun­tries.

43.3 pc Con­sumers Spent on Sum­mer Prod­ucts This Year Due to Heat­wave: Re­port

The pro­longed heat­wave in the UK and ma­jor sport­ing events boosted spend­ing on sum­mer items such as out­door and gar­den­ing prod­ucts, BBQ food and hol­i­day cloth­ing, with con­sumers judg­ing Tesco to be the re­tailer that had pro­moted its sum­mer ranges the best, ac­cord­ing to Glob­al­data, a lead­ing data and an­a­lyt­ics com­pany. The com­pany’s lat­est re­port ‘Sum­mer in the UK 2018,’ re­veals that 43.3 per­cent of con­sumers spent on sum­mer this year, in­clud­ing re­tail prod­ucts and leisure. De­spite spend on re­tail dom­i­nat­ing, spend on leisure in­creased as a pro­por­tion of over­all spend­ing, as UK con­sumers took ad­van­tage of the great weather. Emily Sal­ter, Re­tail An­a­lyst at Glob­al­data com­mented, “Price con­tin­ued to drive re­tailer choice for sum­mer prod­ucts, as low price was an im­por­tant in­flu­encer for 55.4 per­cent of food and gro­cery shop­pers, and 54 per­cent of hol­i­day shop­pers. The sig­nif­i­cance of price was de­spite an in­crease in per­ceived fi­nan­cial well­be­ing.

“Along with the heat­wave, price-fo­cused re­tail­ers could take ad­van­tage of the 46.6 per­cent of con­sumers who watched the FIFA World Cup, thus cap­i­tal­is­ing on the in­crease in over­all sum­mer spend­ing, with re­tail­ers such as ASDA, Pri­mark and Aldi in­creas­ing their pur­chaser shares across sum­mer prod­uct cat­e­gories.”

Alibaba’s Ro­bust Ecosys­tem Su­per­charges 2018 11.11 Global Shop­ping Fes­ti­val

Alibaba Group Hold­ing Lim­ited of­fi­cially kicked off the 2018 11.11 Global Shop­ping Fes­ti­val in China’s cap­i­tal, promis­ing this year’s mega-event will be the largest-ever in terms of scale and reach. Busi­nesses within the Alibaba ecosys­tem will jointly of­fer hun­dreds of mil­lions of con­sumers

an en­rich­ing ex­pe­ri­ence that sup­ports their pur­suit of high-qual­ity prod­ucts, en­ter­tain­ment and fast, re­li­able ser­vices. The fes­ti­val will also demon­strate the en­thu­si­asm of con­sumers and brands em­brac­ing Alibaba’s new re­tail strat­egy – the con­ver­gence of on­line and off­line re­tail through tech­nol­ogy. “This year marks the 10th an­niver­sary of 11.11. On the back of China’s ex­plo­sive dig­i­tal trans­for­ma­tion, the Fes­ti­val’s as­tound­ing growth over the past decade has pow­ered the steady growth of qual­ity con­sump­tion sought by Chi­nese shop­pers. The evo­lu­tion also show­cases the de­vel­op­ment of the Alibaba ecosys­tem over time ex­pand­ing well beyond e-com­merce,” said Daniel

Zhang, CEO, Alibaba Group. This year, 500,000 items will be avail­able for pre-or­der on Tmall from Oc­to­ber 20. Cus­tomers can en­joy ad­di­tional pro­mo­tional coupons on Mo­bile Taobao and Mo­bile Tmall.

Derek Miller Named Pres­i­dent of IHA

Derek Miller has been named pres­i­dent of the In­ter­na­tional House­wares As­so­ci­a­tion, suc­ceed­ing Phil Brandl who will re­tire at the end the year. Miller, cur­rently IHA’S vice pres­i­dent, global mar­ket­ing, will as­sume the role of pres­i­dent Oc­to­ber 1, 2018. Miller was se­lected by a unan­i­mous vote of the IHA Ex­ec­u­tive Com­mit­tee.

“We have a great staff and se­nior man­age­ment team at IHA, and Derek has been an in­cred­i­bly in­te­gral part of that for a long time,” Brandl said in mak­ing the an­nounce­ment. “I con­grat­u­late Derek and be­lieve he’s a great choice to lead the IHA or­ga­ni­za­tion. Quite frankly, this is a com­pli­ment and vote of con­fi­dence to the en­tire IHA team.”

“Hav­ing worked in house­wares for more than 22 years, I am ex­tremely pleased to con­tinue serv­ing the in­dus­try, the In­ter­na­tional Home + House­wares Show and the IHA through this new po­si­tion,” Miller said. “I look for­ward to work­ing with the IHA board of di­rec­tors and lead­ing the IHA staff to fur­ther de­velop the Show and other projects for the ben­e­fit of our en­tire in­dus­try.” Miller joined IHA in De­cem­ber 1999 as Di­rec­tor, In­ter­na­tional Busi­ness De­vel­op­ment, and was named Vice Pres­i­dent, In­ter­na­tional Ser­vices in Oc­to­ber 2001. He led IHA’S in­ter­na­tional de­part­ment un­til March 2014 when he was named vice pres­i­dent, global mar­ket­ing.

Skech­ers Achieves Record Third Quar­ter 2018 Sales

Skech­ers USA, a global footwear leader, has an­nounced fi­nan­cial re­sults for the third quar­ter ended Septem­ber 30, 2018. “Achiev­ing record third quar­ter sales is a no­table ac­com­plish­ment given the strength of our third quar­ter 2017 sales,” stated Robert Greenberg, Chief Ex­ec­u­tive

Of­fi­cer, Skech­ers. “As we near the close of 2018, we be­lieve the di­rec­tion of our busi­ness is on tar­get with our record sales in the third quar­ter, con­tin­ued in­ter­na­tional growth and strong gross mar­gins,” stated David Wein­berg, Chief Op­er­at­ing Of­fi­cer of Skech­ers. Wein­berg added, “With three record sales quar­ters in 2018 and brand ac­cep­tance around the globe, we achieved a new record for the first nine months of US$ 3.56 bil­lion, an 11.5 per­cent in­crease over last year. In the third quar­ter, our in­ter­na­tional distrib­u­tor busi­ness re­turned to growth, in­creas­ing 11.6 per­cent over the same pe­riod last year, and com­bined with our in­ter­na­tional joint ven­ture and sub­sidiary busi­ness, our to­tal in­ter­na­tional whole­sale sales in­creased 11.8 per­cent for the pe­riod. In­ter­na­tional whole­sale along with in­ter­na­tional re­tail now rep­re­sents 55.5 per­cent of our to­tal busi­ness. We ex­pect our busi­ness in the United States—both whole­sale and re­tail—to grow in the fourth quar­ter. We re­main com­mit­ted to ef­fi­ciently and prof­itably grow­ing our global footwear busi­ness.”

Sales grew 7.5 per­cent as a re­sult of an 11.8 per­cent in­crease in the Com­pany’s in­ter­na­tional whole­sale busi­ness, and a 10.6 per­cent in­crease in its Com­pa­ny­owned global re­tail busi­ness. Its do­mes­tic whole­sale busi­ness de­creased 3.0 per­cent. The Com­pany’s to­tal in­ter­na­tional busi­ness grew 12.5 per­cent and its to­tal do­mes­tic busi­ness grew 1.8 per­cent. Third quar­ter com­pa­ra­ble same store sales in Com­pany-owned re­tail stores world­wide in­creased 1.9 per­cent, in­clud­ing an in­crease of 3.0 per­cent in the United States off­set by a de­crease of 0.8 per­cent in its in­ter­na­tional stores.

Gross mar­gins slightly in­creased as higher do­mes­tic mar­gins from im­proved re­tail pric­ing and prod­uct mix were par­tially off­set by the im­pact of neg­a­tive for­eign cur­rency ex­change rates.

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