january 8, 2015 · walgreens’ 1q income rises by 30.6% due to higher retail sales (january 7) usa...

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January 8, 2015

DEBORAHWEINSWIG,EXECUTIVEDIRECTOR–HEADOFGLOBALRETAIL&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.

D E B O R A H W E I N S W I G Executive Director – Head of Global Retail & Technology

Fung Business Intelligence Centre [email protected]

US: 646.839.7017 HK: 852.6119.1779

CN: 86.186.1420.3016

January 8, 2015

+5.4%CHARTOFTHEWEEK

STATOFTHEWEEK

STATOFTHEWEEK

• Hudson’sBayannouncedthatthecompanyhasentered

anagreementtoacquireGiltGroupefor$250millionincashonJanuary7.Theacquisitionpricewasonlya

fractionofGilt’speakvaluationof$1billion.

• Theacquisition,whichisexpectedtocloseinFebruary,willallowHudson’sBayandGiltcustomerstoreturn

purchasestoSaksOffFifthdiscountstores.

ConsumerConfidenceNearsYearlyAverageinDecember

$250Mn.

• TheFBICGlobalRetailandTechnologyteamattendstheConsumerElectronicsShow(CES)andreportsonitsmajorthemes,includingapplicationsandconnectedness.

• DisappointingholidaysalespromptsMacy’stocut4,800jobsandcloses40stores

• Mobilephonessurgeaheadoftabletsinsalesandtrafficforthefirsttime

• MacintoshRetailGroupandVroomandDreesman(V&D)fileforbankruptcy

• OnlinesalesaregrowingexponentiallyinMexico,quadruplinginthepastfiveyearandexpectedtodoubleagainby2020

• Totalstart-upfundinginSoutheastAsiasurged43%higherfromthepreviousyear

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January 8, 2015


FROMTHEDESKOFDEBORAHWEINSWIG

This week, the FBIC Global Retail &Technology team is attending theConsumerElectronics Show (CES), held annually in LasVegas, Nevada. The show has become atechnology and cultural phenomenon,continuing to grow every year and reachingthe limits of the conference venues. Lastyear, the announcements and presentationsfocused mainly on the hardware toolsnecessaryforcreatingInternetofThings(IoT)devices. This year, the emphasis is onapplicationsandconnectedness.NearlyeveryproductdemonstratedattheshowisabletoconnecttotheIoTinsomeway,andmanyofthedevicesarevoice-controlled.

The show was formally launched with a glitzy multimedia presentation from Intel, which provided severaldemonstrationsofwhatcanbedonewithitsCuriemodule.Thetinycomputerboastsaprocessor,batteryandwirelesscommunicationscapabilitiesinadevicethesizeofabutton,andhasapplicationsforgaming,fitness,extremesports,sportswatching,artandmusic.AnotherinterestingdemowasfromLuxottica’sOakleybrand,whichdebuteditsnewsportsglasses.Thewearercommunicateswiththeglassesviavoicecommandsand,inturn,theglassesmonitorhisorher performance and provide coaching. We also saw demos of updated drones and robots that can follow voicecommands.

A recurring theme at the show this year is that the data collected by IoT devices could be used for the benefit ofsociety.Forexample,trafficandweather informationcollectedbydriverlesscarscouldbesharedinthenetworkforthe benefit of other drivers. Connected cars could also transmit information on the health of accident victims toarrivingmedicalpersonnel.

Although true autonomous, driverless cars are still a couple of years away, both carmakers and chipmakersmadeannouncementsaboutthematCES2016.Fordrevealeditsactivitiesindriverlesscars,andNvidiaandQualcommbothdemonstratedtheirauto-relatedtechnologies. Intermsofconnectedness,FordshowedhowitsvehiclescaninteractwithAmazon’sEchohomemanagementhubtoenabledriverstoremotelyturnonlightsinthehouseorunlockdoorsfromtheirvehicles,andSamsungmadesimilarannouncementswithpartnerBMW.

Inhiskeynoteaddress,NetflixCEOReedHastingsoutlinedthehistoryoftelevisionandstatedthatweareinanewageofwatchingwhatwewant,whenwewant.He also announced thatNetflix service is nowavailable innearly everycountryintheworld,inamultitudeoflanguages.

IBMCEOGinniRomettygaveanimpressivekeynotedescribingthepoweroftheWatsonartificialintelligenceplatform,whichworks innatural language. IBM iscombining thepowerofWatsonwithnewpartners suchasUnderArmour,MedtronicandrobotmakerSoftBank.

ThusfaratCES,wehaveseenimpressivedemonstrationsacrosstheIoT,driverlesscars,drones,artificialintelligence,wearable tech, voice control, robotics, smart homes, health and fitness, augmented and virtual reality, andhome/cybersecurity—andwearejustgettingstarted!TheFBICRetail&Technologyteamwillcontinuetoreportfromtheshow(which runs for twomoreexhausting,excitingdays),andwewillpublishdeeperanalysesofwhatwesawaftertheshowhasended.

LifeFuels

FitbitBlaze

VolkswagenBUDD-e

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January 8, 2015


ConsumerConfidenceNearsYearlyAverageinDecemberFigure1.UniversityofMichiganConsumerSentimentIndex

Source:UniversityofMichigan

• ConsumerconfidencereachedthehighestlevelsinceJuly2015inDecemberandclosetotheyearlyaverageof92.9.

• Thereported92.6forDecemberwashigherthanthesurveyedconsensusreadingof92.

• ThechiefeconomistofSurveysofConsumersattributedtheresulttolowerinflationrate,whichincreasedspendingplansforbig-tickethouseholddurables.

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FBICHAPPENINGS&WEINSWIG’SWATCHING

• Thisweek,theFBICGlobalRetail&TechnologyteamisattendingtheConsumerElectronicsShow(CES),heldannuallyinLasVegas,Nevada

STATOFTHEWEEK

• Hudson’s Bay announced that the company has entered anagreement to acquire Gilt Groupe for $250 million in cash onJanuary7. Theacquisitionpricewasonlya fractionofGilt’speakvaluationof$1billion.

• Theacquisition,which isexpected to close inFebruary,willallowHudson’sBay andGilt customers to return purchases to SaksOffFifthdiscountstores.

$250Mn.

Source:Companypressrelease

CHARTOFTHEWEEK

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January 8, 2015


USRETAILHEADLINESMacy’stoSlash4,800JobsandClose40StoresAfterDisappointingHolidays(January7)LosAngelesTimes

• Citingadisappointingholidayseason,Macy’sannouncedthatitplanstocutabout4,800jobsandclose40storesaspartofitseffortstoslashcosts.Thecostefficiencyandprocessimprovementmeasuresaretobeimplementedbeginninginearly2016.ThedepartmentstorechainsaidcomparablesalesforNovemberandDecember2015droppedby4.7%yearoveryear.

• Macy’salsosaiditwillcontinue“thecreationofshareholdervalue”bymonetizingitsrealestateholdings.ThecompanyhasretainedCreditSuisseandGoldmanSachsregardingformingpartnershipsorjointventure(s)foritsmall-basedpropertiesaswellasitsflagshiprealestateassetsinManhattan,SanFrancisco,ChicagoandMinneapolis.

Hudson’sBayCompanyAgreestoBuyGiltGroupetoExpandAll-ChannelPush(January7)WWD.com

• Hudson’sBayCompany(HBC)announcedthatitwillacquireGiltGroupefor$250millionincash.ThepurchaseisexpectedtocloseFebruary1.HBCpaid$2.5billiontobuyGermandepartmentstorechainGaleriaKaufhoffromMetrolastSeptember.TheGiltpurchaserepresentsHBC’sfirstacquisitioninthepurelydigitalspace.

• TheacquisitionpricerepresentsamajordropforGilt,whichatitspeakwasvaluedat$1billion.HBCsaiditplanstofoldtheluxuryflash-salessiteintoitsSaksOFF5thdivisiontofurtherdevelopitsall-channelretailmodel.HBCalsoplanstoleverageGilt’smobileandpersonalizationcapabilitiestoacceleratethegrowthofitsdigitalbusinessacrossallitsexistingbanners.

PhonesTopTabletsinSales,TrafficforFirstTime(January7)Shop.org

• Mobiletoppedtabletsintermsofonlinesalesandtrafficforthefirsttime,accordingtotherecentStateofRetailingOnlinesurveyconductedbyShop.org,ForresterResearchandBizrateInsights.Thesurveyrevealedthatsmartphonesaccountedfor17%oftotalonlinesalesin2015,whiletabletsaccountedfor14%.Overall,salesfromphonesgrewby53%in2015andsalesfromtabletsby32%.

• Despitetheresults,30%ofretailerssurveyedsaidtheyinvestedlessthan$10,000insmartphoneplatformsin2015,while17%invested$10,000–$50,000.However,34%ofthosepolledsaidtheyplantogrowtheirmobileinvestmentsby1%–20%and22%saidtheywillgrowtheirtabletinvestmentbymorethan20%.

SallyBeautyHoldingsNamesSharonM.LeiteasPresidentofSallyBeautySupplyUSandCanada(January6)BusinessWire

• SallyBeautyHoldingsannouncedthatSharonM.LeitehasbeenappointedPresidentofSallyBeautySupply’sUSandCanadabusiness,effectiveFebruary1.

• Leiteisaretailveteranwithover25yearsofexperience.PriortojoiningSallyBeauty,sheheldvariousleadershiprolesatPier1Imports,wheresheledthecompany’sSales&CustomerExperiencestrategyintheUSandCanada.Inaddition,herresponsibilitiesincludedE-commerce,OperationsandRealEstate.

Walgreens’1QIncomeRisesby30.6%DuetoHigherRetailSales(January7)USAToday

• WalgreensBootsAlliancesaidthatitsfiscalfirstquarternetincomeroseby30.6%yearoveryearduetohigherretailsales.Netincomewas$1.1billion,upfrom$850millionayearago.Salesincreasedby48.5%,to$29billion.

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January 8, 2015


• Withbabyboomersaginganddemandforpharmaceuticalproductsrising,largerdrugstorechainsarelookingtoconsolidatetoboosttheirbuyingpowerandleverageagainstinsurers.InOctober,WalgreensagreedtobuycompetitorRiteAidfor$17.2billion,adealthatcombinesthenation’ssecond-andthird-largestpharmacychains.Thecombinedcompanywillhaveabout13,000USstores,leapingaheadofcurrentmarketleaderCVS.Walgreenssaiditstillexpectsthedealtocloseinthesecondhalfofthisyear,despitetheFTCaskingformoreinformationabouttheacquisition.

ApparelRetailersMostlyReportHigherDecemberSales(January7)RTTNews

• AsamplingofUSapparelretailersfoundthatmostreportedhighersalesresultsatestablishedstoresforthemonthofDecember.

• ShoppersfinallyspentmoneyonwinterappareltowardtheendofDecemberafterthelatearrivalofcoolerweather,whichboostedtheholidaysalesfiguresofapparelretailers.Unseasonablywarmweatherearlierinthemonthhaddelayedpurchasesofwinterwear.

EUROPERETAILHEADLINESMacintoshFilesforBankruptcy(December30)Retaildetail.eu

• ThemanagementofDutchfashionandhomedecorretailerMacintoshRetailGrouphasdecidedtofileforbankruptcy.ThedecisionwasannouncedonlyafewdaysafteraDutchcourtgrantedthecompanya“suspensionofpayments”toenableittocopewithtemporaryfinancialdifficulties.

• Thegroupstatedthatthebankruptcywouldapplyonlytotheparentcompanyandnottoitssubsidiaries.Itaddedthatallofthegroup’sretailstoresareopen,andthatmanagementismullingovervariousoptions,includingsellingtheentiregrouporeachindividualdivision.

DepartmentStoreGroupV&DGoesBankrupt(December31)Dutchnews.nl

• AnotherDutchcompany,VroomandDreesman(V&D),hasalsodeclaredbankruptcy.Thedepartmentstorechainruns67storesandrestaurantsintheNetherlandsandsaidthatthosewillremainopenpendingapotentialrelaunch.

• Around10,000staffemployedbyV&Daresaidtohavelosttheirjobs.Thestatejobcenter,UWV,willreportedlypaytheirsalariesintoJanuary.Thecompanystatedthatithasbeeninfinancialdifficultyforawhile,madeworsebyunseasonablywarmweatherinNovemberandDecemberand“anumberofincidentsandunforeseensituations.”

JaegerShelvesSalePlansasBidsFallShortofAskingPrice(January2)Telegraph.co.uk

• BetterCapital,theowneroffashionlabelJaeger,hasdecidedtoabandonplanstosellthelabelbecausetheoffersthatcameinwerelessthanthetargetprice.TheinvestmentcompanyannouncedthatitwillpumpmorecapitalintoJaegerinstead.

• BetterCapitalhadinjected£63million(US$93million)intoJaegersinceitboughtthelabelinApril2012.However,itrecentlytoldinvestorsthatthebusinesswasnowworthonly£37million(US$54million).Reportedly,amini-auctionbeforeChristmasgeneratedahandfulofoffersaroundthe£35million(US$51million)mark,buttheownerswerefirmintheirdecisiontonotsellbelow£40million(US$59million).

NextReportsDisappointingChristmasSales(January5)Companypressrelease

• Britishhigh-streetfashionretailerNextreported“disappointing”performanceforthe60daysthroughDecember24,withsaleshitbyunusuallywarmweatherinNovemberand

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January 8, 2015


December.Whiledirectorysalesintheperiodwereupby2%andoverallsalesby0.4%,store-basedsalesfellby0.5%.

• Theretailerhasreviseditsfull-yearprofitestimateto£817million(US$1,200million),anincreaseof4.4%fromlastyear.Theestimateisatthelowerendoftheprofitguidanceof£810–£845million(US$1,190–US$1,242million)announcedinOctober.Thecompany’sfull-yearresultsarescheduledtobeannouncedonMarch24.

JumboSupermarketChaintoCut190JobsatHeadOffice(January5)Retaildetail.eu

• DutchsupermarketchainJumboannouncedthatitwilllayoffabout190employeesatitsmainofficeasaresultofclosingitspremisesinAmersfoortandabutcheryinBeilen.TheCEOmadetheannouncementatthecompany’s2015resultspresentationandstatedthatmanyofthepositionswerenolongerrequiredordidnotrelatetothecompany’scoreactivities.

• Jumbo’sconsolidatedturnoverfor2015was€6.65billion(US$7.14billion),down€0.17billion(US$0.18billion)sincelastyear.Thecompanyintendstoinvestnearly€100million(US$107.5million)inimprovingitsstoresandwebshopoverthenext12months.

HomeRetailGroupRejectedTakeoverOfferMadebySainsbury’sinNovember(January5)FT.com

• BritishgroceryretailerSainsbury’sreportedlymadeanoffertotakeoverHomeRetailGroupinNovember,whichthelatterrejected.HomeRetail,owneroftheArgosandHomebasechains,hasbeenthesubjectoftakeoverspeculationforafewmonths.

• Inastatement,Sainsbury’saddedthat“thecombinationisanopportunitytobringtogethertwooftheUK’sleadingretailbusinesses.”ThegrocersaidthatwhileitsNovemberbidwasacombinationofcashandshares,thatcouldchange,asithasuntilFebruary2underUKtakeoverrulestomakearevisedoffer.

ASIATECHHEADLINESIndonesianCash-BackAppSnapcartRaisesBridgeRound(January5)TechinAsia

• Snapcart,anappthatletsshoppersgetcashbackwhentheysubmitphotosoftheirreceipts,announcedthatithadraisedUS$1.7millioninapre-seriesAbridgeround.WavemakerPartners,SPHMediaFund(theinvestmentarmofSingapore’sleadingmediagroup,SingaporePressHoldings),SinarMasDigitalVenturesandArdentCapitalparticipatedintheround.

• ThecompanysaidinastatementthatitwasabletoearninvestorconfidenceafteritsignedmajorconsumerbrandsNestléandL’OréalinIndonesia.OtherbrandsSnapcarthassignedincludeProcter&GambleandUnilever.

PaytmAcquiresContext-AwarePersonalAssistantAppShifu(January4)e27.co

• Indianm-commerceandmobilepaymentscompanyPaytmhasacquiredShifu,acontext-awarepersonalassistantappthatminestheusagepatternsofsmartphoneusersandmakespersonalizedandrelevantrecommendationstothem.

• Shifu,ownedbyDelhi-basedTheSignals,isafreetask-managingapp.Oncetheappisinstalled,itanalyzestheusagepatternsofthedeviceownerandmakesavarietyofsuggestionsbasedonapredictivealgorithm.

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January 8, 2015


Ford,ToyotaAllytoCounterSiliconValleyinDashboardWar(January4)ChannelNewsAsia

• FordMotorandToyotaMotorsaidonMondaythattheywilladoptthesamesoftwaretolinksmartphoneappstovehicledashboardscreens,andtheyinvitedotherautomakerstojointheminordertocounterApple’sandGoogle’spushtocontrolthecarsofthefuture.

• FordsaidFrance’sPeugeotandJapan’sHondaMotor,SubaruandMazdaMotorarealsoinvestigatingadoptingSDLasastandard.QNXSoftwareSystemsandUIEvolution,developersofautomotiveconnectivitytechnology,areadoptingSDL,too,Fordsaid.

Here’sHowMuchStartupsRaisedinSoutheastAsiain2015(January4)TechinAsia

• TotalstartupfundinginSoutheastAsiahitUS$1.61billionin2015,a43%jumpfromthe2014figureofUS$1.123billion,accordingtoTechinAsia’sdatabase.Giventhatmanystartupsdidnotdisclosetheamountstheyhadraised,thetruetallycouldbebigger.

• Seedfundinggrewbyover12%,toUS$57.29million,fromUS$50.89millionin2014.SeriesAfundingsurgedby60%,toUS$228.79million,fromUS$143.09millioninthepreviousyear,showingthatmanystartupswereabletosurvivecloserscrutinybyventurecapitalfirmsandcrossovertothecrucialgrowthstage.

FundingforTheBridge,Japan’sBilingualStartupNewsSource(January4)TechinAsia

• Tokyo-basedonlinemediastartupTheBridgeannouncedthatithasraisedfundsfromFujiStartupVentures,theventurearmoftheFujiTVnetwork,andnewsreleasedistributionservicePRTimes.Theamountwasnotdisclosed.

• ThesitepartneredwithtechblogVentureBeat,whichisheadquarteredinSanFrancisco,tofacilitateitsentryintoJapanlastMarch.TheBridgetranslatessomeofVentureBeat’scontentintoJapaneseandprovidestheblogwithEnglishcoverageoftheJapanesestartupecosystem.

LATAMRETAILHEADLINESPuertoRicoExpectsaDeclineofupto30%inHolidaySales(January5)AssociatedPress

• PuertoRico’sNationalRetailFederationisreportingadropinholidaysalesofupto30%amidadeterioratingeconomicsituation.About70%ofbusinessespolledforarecentsurveyreportedadecrease.

• Thedeclineislikelyduetoarecentincreaseinthesalesandusetax,to11.5%from7%lastyear.Thetaxincreaseisexpectedtohelpgenerateupto$1.2billioninrevenue,butithasforcedsomebusinessestocloseanddampenedshopping.

FalabellatoInvestUS$4BillionThrough2019(January4)WWD.com

• GrupoFalabellaplanstoinvestmorethanUS$4billionbetween2016and2019,a9.5%increaseoverthepreviousfour-yearperiod,inordertoboostitspresenceinSouthAmerica.

• About40%ofthetotalinvestmentwillgotoopening131storesand10shoppingmallsinPeru,Colombia,ChileandArgentina;26%willgotoexpandandremodelstoresandexistingshoppingmalls;andtheremaining30%willbespentoninfrastructure,logisticsandIT.

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January 8, 2015


AppleNearingMajorExpansioninLatinAmerica(January4)Appleinsider.com

• Appleispreparingtoexpanditsbrick-and-mortarretailpresenceinLatinAmerica.NewstoreopeningsareplannedacrossMexicoandSouthAmerica.

• Theexpansionisexpectedtobeledbytwolargestores,includingaflagshipinMexicoCity.

HowE-CommerceReachestheUnbankedinMexico(January4)PYMNTS.com

• ThelowpenetrationrateofcreditcardsinMexicohasforcedretailerstodevelopcreativepaymentoptions.Forexample,Linio,amajoronlinestoreinLatinAmerica,alsoacceptsPayPal,cashondeliveryandcashpayments(madeatOXXOconveniencestores).Regionale-commercesiteMercadoLibrehasitsownpaymentsystemcalledMercadoPagothatissimilartoPayPal.

• Amazon,whichstartedoperatinginMexicoinJune,nowacceptsgiftcardsthatcanbepurchasedwithcashatOXXOlocations(therearemorethan13,000ofthemacrossthecountry)aswellasOXXObrandprepaidcards.

E-CommerceGrowinginMexico(January1)TheWallStreetJournal

• OnlineshoppingisgrowinginMexico,owingtogreaterInternetaccessandsmartphoneuse.However,lowpenetrationofcreditcards—therearejust22.6millioncreditcardsinacountrywithapopulationof119.5million—andconsumers’reluctancetobuygoodsonlinehavepromptede-retailerstofindcreativesolutions.

• Onlineshoppingaccountsforabout2%ofMexico’sroughlyUS$203billioninannualretailsales,accordingtoEuromonitor.However,thesegment’ssaleshavemorethanquadrupledinthepastfiveyearsandshoulddoubleagainby2020.

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January 8, 2015


EARNINGSCALENDAR

Company

EarningsReleasePeriod Date

Sales(USDMil.) EPS

CurrencyConsensusTY LYActual

ConsensusTY LYActual

Unilever FY15 Jan19 53,163 48,436

1.80 1.82 EUR

SuperValu 3Q16 Jan20 4,177 4,204

0.16 0.04 USD

eBay 4Q15 Jan20 2,317 4,921

0.50 0.77 USD

Kimberly-Clark 4Q15 Jan25 4,580 4,828

1.43 1.35 USD

Procter&Gamble 2Q16 Jan26 16,968 20,161

0.98 1.06 USD

Apple 1Q16 Jan26 77,348 74,599

3.26 3.06 USD

Coach 2Q16 Jan26 1,273 1,219

0.67 0.72 USD

Metro 1Q16 Jan27 2,929 2,841

0.53 0.45 CAD

Facebook 4Q15 Jan27 5,358 3,851

0.68 0.25 USD

Colgate-Palmolive 4Q15 Jan28 3,941 4,221

0.73 0.76 USDGeneralGrowthProperties 4Q15 Jan28 683 673

0.42 0.38 USD

H&M FY15 Jan28 181,712 151,419

12.96 12.07 SEK

DeckersOutdoor 3Q16 Jan28 847 785

4.93 4.50 USD

Amazon 4Q15 Jan28 35,993 29,328

2.79 0.45 USD

Hanesbrands 4Q15 Jan28 1,532 1,523

0.46 0.37 USD

Alphabet 4Q15 Jan28 16,892 18,103

8.10 5.47 USD

Clorox 2Q16 Jan29 1,349 1,345

1.04 0.97 USD

Unicharm FY15 Jan29 751 600

63.11 64.10 JPY

SimonPropertyGroup 4Q15 Jan29 1,380 1,297

2.66 2.47 USD

Alibaba 3Q16 Jan29 32,885 26,179

5.73 3.10 CNY

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January 8, 2015


EVENTCALENDAR

Event Location Date(s) FBICPresentingCreditSuisseGreaterChinaTechnology&InternetConference HongKong January6–8 IsraelExport&InternationalCooperationInstituteRedefiningInnovation@CES LasVegas,NV January6–9

CES2016 LasVegas,NV January6–9

ICRConference Orlando,FL January11–13

UJAi3:ASummitforWomen NewYork,NY January12

BrandInnovatorsGameChangers Detroit,MI January13

FashionDigitalLondon London,UK January14

XRCInvestorDemoDay NewYork,NY January14

ROISuperSaturday NewYork,NY January16

RISERetailInnovation&ShopperExpertiseSymposium NewYork,NY January16 DeborahWeinswig

NRFFoundationGala NewYork,NY January17

DigitalLife&DesignConference Munich,Germany January17–19

NRFRetail’sBigShow NewYork,NY January17–20 DeborahWeinswig

PlanalyticsRetailStrategyBreakfast NewYork,NY January18 BrandInnovatorsFutureofConsumerEngagement&Retail NewYork,NY January19 CreditSuisse2016LatinAmericaInvestmentConference SãoPaulo,Brazil January19–20

Mercedes-BenzFashionWeekBerlin Berlin,Germany January19–22

AvonProductsInvestorDay NewYork,NY January21

BrandInnovatorsContentMarketing Denver,CO January22

MAGICProjectNY NewYork,NY January24–26

ICSCTexasRetailForecast Dallas,TX January25

OurCrowdGlobalInvestorSummit2016 Jerusalem,Israel January25–26

2016FintechFinals HongKong January25–26

WearableTechnologiesConference Munich,Germany January26–27

BrandInnovatorsConsumerEngagement SanFrancisco,CA January28

ICSCHeartland Omaha,NE January28–29 DeborahWeinswig

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January 8, 2015


DeborahWeinswig,CPAExecutiveDirector—HeadofGlobalRetail&TechnologyFungBusinessIntelligenceCentreNewYork:917.655.6790HongKong:85261191779China:8618614203016deborahweinswig@[email protected]

MarieDriscoll,[email protected]

JohnHarmon,[email protected]

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HONGKONG:10thFloor,LiFungTower888CheungShaWanRoad,KowloonHongKongTel:85223002470NEWYORK:1359Broadway,9thFloorNewYork,NY10018Tel:6468397017LONDON:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988FBICGROUP.COM

january 8, 2015 · walgreens’ 1q income rises by 30.6% due to higher retail sales (january 7) usa...

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