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Executive Summary

  • This week’s note “From the Desk of Deborah Weinswig” looks at Alibaba’s move into the US B2B market.
  • GNC announced it will close 700-900 stores, mostly in malls, where around 28% of its stores are located. The supplements retailer reported US and Canada second quarter revenues fell 8% as same-store sales slid 4.6%.
  • German fashion retailer Gerry Weber will close all its UK stores by the end of October. The announcement comes as part of its parent company’s restructuring plan initiated in January.
  • Ikea plans to start selling in Mumbai, its second location in India in less than a year. Ikea will first offer online sales in Mumbai and later open small stores, pick up centers and customer service centers across the city, to be followed by increased online offerings.

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