Up-to-date coverage of the latest events in UK retail.
Walmart hires former Google and Amazon exec as CTO
Walmart has appointed a former Google and Amazon executive as to “a new elevated chief technology officer and chief development officer role”.
Suresh Kumar will report directly to Walmart chief executive Doug McMillon and joins as the retail giant focuses on “transforming customer and associate experiences” as it slugs it out with Amazon.
Poundland owner posts sales rise as value chain ‘outperforms’
Pepkor Europe, owner of businesses including Poundland in the UK, has reported a rise in quarterly and half-year sales.
Poundland’s revenues rose 3.1% in the second quarter and, over the half-year to March 31, advanced 1.6% to €920m.
“Our planned investments in scaleable infrastructure across the group to secure the growth opportunity available to us, may slow our rate of earnings growth in the second half year, but with a focused strategy in place and a strong financial base, the opportunity for long-term growth across Europe is clear.”
Alibaba considers Hong Kong listing
Chinese ecommerce powerhouse Alibaba is reportedly considering a secondary listing in Hong Kong.
The retailer, already quoted on the New York Stock Exchange, could raise as much as $20 billion through a secondary listing in Hong Kong, Bloomberg reported.
Shop prices rise in May
The rate of shop price inflation rose to 0.8% in May compared to 0.4% in April.
That was above both the 12- and six-month average of 0.2% and 0.6% respectively according to the BRC-Nielsen shop price index.