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Report: India closer to allowing foreign retail investment
New Delhi, India — A Thursday report by Bloomberg said that India will announce new rules for foreign investment in retail by April 2012, which will pave the way for Wal-Mart Stores and Carrefour SA to open stores in the country.
“We are much further down the process than people think,” said Junior Trade Minister Jyotiraditya Scindia in an interview with Bloomberg. “I think it is a huge opportunity” for India.
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Costco sets bar high again for Sam’s Club
The warehouse club channel remains one of the hottest segments in retail as evidenced by the solid third-quarter results Costco reported earlier this week on the heels of the equally solid first-quarter results Sam’s Club reported last week.
Although the company’s operate on different fiscal years, the quarterly periods are comparable with only one week separating Costco’s May 8 third-quarter end date from Sam’s Club’s April 30 end date.