TOP NEWS
* Industria de Diseño Textil SA, owner of the apparel chain Zara, reported fiscal fourth-quarter earnings that beat expectations as steady growth in sales continued with the rollout of a fully integrated store and online platform. Net income attributable to the controlling company in the three months to Jan. 31, 2018, increased 7.5% year over year to €1.03 billion from €955 billion in the year-ago period, surpassing the S&P Capital IQ consensus estimate of €1.02 billion. The company also said it appointed Carlos Crespo, formerly the head of internal audit, as COO.
* Adidas AG raised its 2020 profitability target as it reported strong fourth-quarter and full-year fiscal 2017 performances. For the 2015-to-2020 period, the German company said it now expects net income from continuing operations to increase between 22% and 24% on average per year, compared with the previous projection of 20% to 22%. For the fourth quarter ended Dec. 31, 2017, Adidas reported net income of €35 million, compared with a loss of €10 million in the year-ago period. When including a one-time negative tax impact of €76 million due to U.S. tax reform, Adidas saw a net loss of €41 million for the quarter.
E-COMMERCE
* Amazon.com Inc. is recalling about 260,000 units of AmazonBasics portable power banks over the risk of overheating and fire hazard, the U.S. Consumer Product Safety Commission said.
* Workers in the San Fernando logistic warehouse of Amazon.com Inc.'s Spanish arm intend to go on a two-day strike over a wage dispute with the e-commerce company, Reuters reported, citing a release from Spanish trade union Comisiones Obreras.
* Amazon.com Inc. launched its first debit card in Mexico to help shoppers without bank accounts to shop online, Reuters reported.
HOUSEHOLD DURABLES & SPECIALTY RETAIL
* Dick's Sporting Goods Inc. predicts that its recent decision to stop the sale of assault rifles in its stores is not going to drive positive traffic and sales for the company, CEO Ed Stack said during a conference call to discuss the company's fourth-quarter earnings. Stack also said during the call that the "significant weakness" in the Under Armour Inc. brand impacted the company's apparel sales.
* Ikea, through its freelance labor unit TaskRabbit, plans to launch a service that will allow customers to book a "tasker" who can assemble furniture purchased from the Swedish home improvement retailer for a fixed price, CNBC reported. The program is reportedly available in New York and San Francisco.
FOOD & STAPLES RETAILING
* Michael Lindsell, the ninth-largest shareholder of U.S.-based beverage maker Dr Pepper Snapple Group Inc., plans to sell his stake in the company before its planned merger with coffeemaker company Keurig Green Mountain Inc., Reuters reported, citing Lindsell's letter to investors. Lindsell, whose interest in the company is valued at about $380 million, reportedly said he does not see the logic of the proposed transaction.
* Shares of Hong Kong-based food and beverage distributor B & S International Holdings Ltd. surged after attracting strong retail demand upon listing on the Hang Seng Index, the Nikkei Asian Review reported. The stock had a market capitalization of about HK$1.2 billion, the report added.
HYPERMARKETS & SUPER CENTERS
* Walmart Inc. said it plans to extend its online grocery delivery service to more than 100 metropolitan areas in the U.S. by 2018-end, capturing more than 40% of the country's households.
* Walmart is in the final round of talks to become the largest shareholder in Indian online retailer Flipkart India Pvt. Ltd. by acquiring about 20-26% stake initially and raising it to 51% in tranches, two sources with knowledge of the development told The Economic Times. The company reportedly could make a final investment of about $10 billion to $12 billion for the total stake acquisition.
* Macy's Inc. is testing a mobile checkout service at some of its department stores in a bid to cut waiting time, Fortune reported, citing CEO Jeff Gennette's statements at an investor conference. The new service will allow shoppers to scan items and ring up the bill with an app before going to an express line, where the items will be counted and security tags will be removed by staff, the report said.
HOUSEHOLD & PERSONAL PRODUCTS
* Procter & Gamble Co. said March 13 it settled its patent infringement dispute with Michigan-based oral healthcare company Ranir LLC related to P&G's patent rights and Ranir's tooth whitening strip products in the U.S. and Canada. Ranir acquired rights to P&G patents in the settlement under some commercial terms, which the consumer products giant did not disclose.
* South Korean personal products maker Amorepacific Group debuted in Australia by opening a counter for its mid-range brand Laneige inside Sephora stores and by launching the range online in the country, Inside Retail Asia reported. The company, which opened its head office in the Australian city of Melbourne in 2017, plans to launch its flagship line Amorepacific and eco-friendly brand Innisfree in the country by late 2018, the report said.
