Despite slightly higher consumption levels in Belgium (especially in the food sector: +3.6%), trade federation Comeos fears that higher wages and ever growing renting prices in Belgium may threaten retailers' future turnovers.
Belgian retail turnover rises again, but "remain under threat"
Canadian department store chain Hudson’s Bay is lagging behind with its store renovations in the Netherlands. It wants to open ten stores this year, but the former V&D store locations are running into several remodeling issues.
In October 2016, Facebook launched a marketplace for used items in several countries, including the United Kingdom and the United States. That marketplace is now also coming to Belgium, the Netherlands and fifteen other European countries.
Belgian outdoor chain AS Adventure has acquired its German competitor McTrek. The acquisition opens up the largest European outdoor market for the Belgians, thanks to McTrek’s 39 stores and web shop.
Several American department store chains continue to underperform. Both Macy’s and Kohl’s experienced turnover slumps compared to the previous year, even though they both managed to beat analysts’ expectations.
Amazon is in talks with American event location owners to see whether it could sell tickets for their events on its web shop.
German Henkel has had a record second quarter, when turnover reached nearly 5.1 billion euro. For the first time ever, its six-month turnover surpassed the 10 billion euro milestone, thanks to its acquisition of laundry detergent company Sun.