News

Double Dragon eyes to raise P6.5B from 2nd tranche of retail bond issuance

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(Source: Interaksyon.com | 25 May 2017) Property developer Double Dragon targets to raise at least P6.5 billion from the issuance of the second tranche of its fixed rate retail bonds. In a disclosure with the Philippine Stock Exchange (PSE) Thursday, the listed firm said the issuance, which has an oversubscription size of P3.2 billion, is part of the P15 billion ...

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Uniqlo to open 1st store in Mindanao

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(Source: Sunstar | 24 May 2017) Japanese apparel retail brand, Uniqlo, is set to open their first store in Mindanao and 37th store in the Philippines on Friday, May 26, at the SM Lanang Premier, Davao City. “We recognize the great economic growth of the region. We have high expectation for this opening in Mindanao,” said Katsumi Kubota, Uniqlo Philippines ...

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DTI partners with retailers to promote Go Lokal! products

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(Source: Inquirer.net | 22 May 2017) From the onset, Trade and Industry Secretary Ramon M. Lopez has put micro, small, and medium enterprises (MSMEs) at the front and center of his advocacies as head of the department. But when you’re advocating for the demographic that accounts for nearly all, or 99.6 percent, of firms in the country, it may be ...

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Contactless payments use to double in two years

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(Source: Inside Retail Philippines | 17 May 2017) New data from fintech analyst Juniper Research forecasts that the global value of contactless payments made via cards, mobile and wearables, will reach US$1.3 trillion by 2019, more than doubling from an estimated $590 billion in 2017. Contactless card levels will continue to dominate transaction values, accounting for 80 percent of total ...

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Korean singles driving retail reform

Source: The Korean Herald

(Inside Retail Asia | 27 April 2017) The rapidly rising ranks of Korean singles is driving huge changes in the country’s retail industry. Currently 27 percent of the country’s population lives alone, a figure set to soar to 32.7 percent by 2030 – or one in three homes. Seol Do Won, vice chairman of the Korean Chainstore Association told the ...

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Alibaba Group revenue up but profit down

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(Source: Inside Retail Asia | 19 May 2017) Alibaba Group revenue jumped 56 percent to RMB158.27 billion (US$22.96 billion) for its latest fiscal year, even as net income fell 42 percent to RMB41.23 billion. The company attributes the fall to a larger tax bill plus investments in cloud computing. Fourth-quarter sales to the end of March rose for the seventh ...

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Indian e-commerce boom looms

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(Inside Retail Asia | 18 May 2017) An Indian e-commerce boom is imminent thanks to burgeoning numbers of internet and smartphone users. The founder and CEO of online women’s fashion store Trend Arrest, Nitin Bhatia, predicts that by next year there could be 500 million internet and 280 million smartphone users. He says new users are fueling growth daily and ...

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Robinsons Retail Q1 income jumps 27%

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(Source: Business World | 12 May 2017) Robinsons Retail Holdings, Inc. (RRHI) rode on its expansion program and higher same-store sales to deliver a 27% increase in earnings in the first quarter of 2017, despite the impact of election-related spending that gave its bottom line a boost in the prior year. In a statement, the Gokongwei-led multi-format retailer said it ...

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Invest in online retail, malls told

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(Source: Sunstar | 18 May 2017) Amid rising vacancy in retail spaces, a property management and research firm advised mall operators to invest in online shops as a way to “future-proof” their business. Colliers International said the overall vacancy in Metro Manila, for instance, is seen to rise to 10 percent to 11 percent, following the completion of about 500,000 ...

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SM opens 2nd mall in CDO

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(Source: Philippine Daily Inquirer | 12 May 2017) Property giant SM Prime Holdings has expanded its footprint in Mindanao with the opening of a lifestyle-oriented shopping mall in Cagayan de Oro (CDO). SM CDO Downtown Premier, which is set to open today, will add almost 178,000 square meters (sqm) of gross floor area to the group’s total retail footprint. “SM ...

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