Association of Convenience Stores urges Chancellor for support

US retail sales down 0.1% in October 2023; Asda achieves Q3 success with strong sales and debt reduction; and Stores prioritise human capital as holiday shopping race heats up 

View in browser View in browser  |  Forward to a friend  | Signup In Brief November 17, 2023 | Up-to-date international news and features on the global retail industry Spotlight Association of Convenience Stores urges Chancellor for support Ahead of the 22 November Autumn Statement, ACS is emphasising the need to fortify the safety and future viability of local convenience businesses. Latest news US retail sales down 0.1% in October 2023 Core retail sales increased 3.7% for the first ten months of the year. Asda achieves Q3 success with strong sales and debt reduction The retailer's Q3 success reflects a resilient approach to economic challenges, strong sales growth and a commitment to supporting communities in the holiday season. Stores prioritise human capital as holiday shopping race heats up With the holidays around the corner, stores are facing tough competition and reconsidering how they manage their staff. Loblaw reports retail segment sales growth of 5.0% in Q3 FY23 The retailer expects full year 2023 adjusted net earnings per common share growth to be in the low double digits. Target posts net earnings growth of 36.3% in Q3 FY23 The retailer expects GAAP and adjusted EPS in the range of $1.90 to $2.60 in fourth quarter. Aurelius acquires UK beauty retailer The Body Shop for £207m The divesture is part of Natura &Co's strategy to simplify and refocus its operations. The Home Depot's net earnings decline 12.2% in Q3 2023 Net sales for the current year's Q3 were down by 3% to $37.71bn from $38.87bn in Q3 FY22. Read more news In-depth read Ecommerce market dynamics The emergence of ecommerce has made it imperative that companies understand consumer behavior, deliver personalized service, and offer competitive pricing models. Ecommerce giants like Alibaba and Amazon dominate the space, supported by huge customer bases, robust mobile payment platforms, and technology expertise in areas like AI. Smaller players focus on disruptive business models, such as subscription services, to make their mark. Per GlobalData, the ecommerce market was valued at $5.9 trillion in 2022 and is expected to grow at a CAGR of >9% by 2027. GlobalData network Packaging Gateway   |   Just Style   |   Just Drinks   |   Just Food Thank you for reading. Please send any news or comments to: consumer.editorial@verdict.co.uk Contact us LinkedIn | Twitter Editorial consumer.editorial@verdict.co.uk Advertise with us Click here About Retail Insight Network retail-insight-network.com is one of a network of 30+ proprietary B2B websites, with an unrivalled global audience of active decision makers, influencers, and opinion leaders across the world with a combined readership of 55 million industry professionals each year.   Was this email forwarded to you? Sign up here GlobalData, John Carpenter House | Registered in England No. 03925319, John Carpenter Street, London, EC4Y 0AN, United Kingdom Unsubscribe Manage Preferences London