Inditex, Spain's most globalised retailer, will open a 1,500-square-metre Zara store in Delhi after a day of festivities featuring Bollywood stars and a celebrity fashion parade. Inditex has been present in mainland China, the most populous market, since 2006, but has been relatively slow to enter India, the second most populous. Inditex CEO Pablo Isla has indicated that the retailer will expand in India more slowly than it did in China.
A benchmark study by eDigital found that the retail websites of JD Sports, M&S, Amazon and John Lewis are leaders among 49 e-commerce sites in Britain. Many of the sites performed well in terms of the purchase process, search and navigation, but e-mail customer service continues to be challenging for the retailers.
Comercial Mexicana will issue roughly $1.54 billion in new debt as part of the debt-restructuring deal it reached with the majority of its creditors. The Mexican retailer said its shareholders will vote on the agreement on 11 June. James Harper, director of corporate research at BCP Securities, said the deal was a positive move as previously reluctant creditors have accepted it. "It took them a long time, with huge obstacles, but they basically got everyone on board," Harper said.
Kohl's is shopping for sites in Canada as it plans for post-recession growth, The Globe and Mail reports. Retailers including J.Crew and Target have already announced plans to pin part of their growth on expansion into Canada, provided they can build cost-effective distribution networks to serve the country's major markets.
X5 Retail Group reported nearly $79 million in quarterly income and offered an optimistic outlook. Late last year, the Russian food retailer acquired Paterson, which added 80 stores to its extensive network. "We expect consumer spending to begin to show improvement towards the end of the year," CEO Lev Khasis said. "This, in combination with new store openings and post-integration contribution from Paterson, should enable X5 to deliver top-line growth in the low-20% range."