Sean Cao

1 week ago | insidesmallbusiness.com.au | Sean Cao

Small and medium-sized businesses in Australia are looking to invest more in assets such as vehicles and machinery after delaying such purchases due to economic uncertainties. New research by East & Partners found that businesses are proceeding with their investment plans. About 56.5 per cent of the respondents said improved cash-flow outlook influenced their decision, while 37 per cent cited a more favourable economic outlook.

1 week ago | insideretail.us | Sean Cao

Lululemon will cut approximately 150 corporate jobs as part of its organizational restructuring. The job cuts will affect staff at store support centers, The Canadian Press reported, citing the company’s statement. “As we continue to deliver on our strategy, we regularly assess our business operations to ensure we are well-positioned for the future,” the statement reads.

1 week ago | insideretail.asia | Sean Cao

Sa Sa International has reported lower sales and profit for that last fiscal year due to unfavourable trends in Hong Kong and Macau – the group’s key markets. The Hong Kong-listed beauty retailer saw turnover decrease 9.7 per cent to HK$3.9 billion (US$497 million) for the year ended March 31. The decline was attributed to the continuous outbound travel of residents from Hong Kong and Macau to Mainland China and abroad.

1 week ago | insideretail.asia | Sean Cao

Alternative asset management firm Blackstone has acquired South City Mall in Kolkata, India for a record price of INR32.5 billion (US$377 million). Blackstone purchased the mall from property developer South City Projects, with Anarock acting as the latter’s advisor. The deal sets a new record for the price of a retail asset in the city. South City Mall spans more than 1 million sqft and houses more than 250 shops operated by both Indian and international brands.

1 week ago | insidefmcg.com.au | Sean Cao

New Zealand-based alt-dairy company formerly Little Island has been placed into liquidation. The liquidation was the result of a “special resolution” by shareholders on June 13, according to a notice in the New Zealand Gazette. The company has appointed Raymond Paul Cox and Clive Robert Bish, chartered accountants and licensed insolvency practitioners, as joint and several liquidators. The notice advised creditors to make their claims and to establish any priority their claims may have by July 14.