AGP Executive Report
Last update: an hour agoRetail Restructuring: South Africa’s Foschini Group closed 120 stores in the first half of its financial year and plans 60–80 more, while online sales rose 53.3%. Australia’s 188-year-old David Jones has entered administration, adding to pressure on traditional department stores. Pharmacy Shift: CVS plans to separate its retail pharmacy business, including about 9,000 stores, from its healthcare operations by 2028; the company says services will continue in the meantime. Trading Outlook: Shoppers are holding back for Black Friday promotions, while Canadian retail and wholesale trade shed 29,000 jobs in October as unemployment rose to 6.7%. Retail Risk: Cyberattacks on refrigeration controls have raised concerns about threats to store operations and food safety. High Street: Suffolk family retailer Coes is expanding into a larger Felixstowe store, betting on local service and customer loyalty. Legal Scrutiny: India’s CBI has charged Future Retail and founder Kishore Biyani in an alleged ₹904 crore bank fraud case.
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