Starbucks boss resigns (again)
A weekly round up of the hottest international retail and consumer news
A weekly round up of the hottest international retail and consumer news.
1. Starbucks boss resigns (for a second time)
Howard Schultz is to step down as Starbucks chief executive, again. He first left the CEO position (after running the company since 1987) in 2000, but took the helm again in 2008 to steer the global coffee chain through the financial crisis. This time, Schultz will remain chairman of the board.
2. Burberry rejects Coach bids
Shares in Burberry surged this week after news emerged that it had spurned the advances of US group Coach. A deal would have created a luxury goods giant worth more than US$20bn. According to the Financial Times, Burberry rejected multiple takeover offers from Coach in recent months. Burberry shares struggled in the first half of 2016, under pressure from a slowdown in luxury demand from Asia and questions over the company’s leadership, the newspaper said.
3. Back to school
Adidas this week opened a flagship store in New York City. The space features a stadium retail concept that is designed around US high school sports stadiums. The German sportswear giant is in the midst of a turnaround in the US. The 4,180m² store is Adidas’ largest in the world.
4. Amazon Go launches
Bye-bye checkout line. Retail giant Amazon is testing a grocery store in downtown Seattle that lets customers walk in, choose food and walk out. Customers tap their cellphones on a turnstile as they walk into the store, and the technology tracks what items they pick up and return to the shelves. Once they leave the store, their Amazon accounts are charged automatically.