What: Reached profits of USD 226 million, a notable acceleration compared to the USD 5.4 million in profits recorded in the same 2020 period.

Why it is important: Falabella sees an acceleration of profits in Q3 as business recovers.

From the period of July through September, Falabella's consolidated revenues closed at USD 3,572 million which represents an increase of 16.7% compared to the 3rd quarter of the previous year.

Gross profit also ended the period with double-digit increases of 38.2% compared to the same period of 2020 and reaching USD 1,266 million.

Consolidated gross operating profit (Ebitda) reached a total of USD 480 million between July 1 and September 30, rising to 117.5% compared to the same period in 2020.

Going forward, the retailer is focused on building its physical-digital ecosystem.

Falabella soars its profits in the third quarter

Falabella's Q3 results

What: Five years ago, the retailer signed an agreement with Soriana, the Mexican second largest supermarket chain. Falabella has concrete plans to further increase its presence in the country, also including the financial business.

Why it is important:  Although Falabella's focus is on digital sales, the retailer will open its ninth location in Mexico. The country is considered as the most attractive in terms of growth opportunities in Latin America.

To supply supermarkets, Falabella already has 3 distribution centres in Mexico. The company accounts for 2,000 workers. Sodimac  and Linio will have an omnichannel deployment while Falaballa will develop financial services through Soriana supermarket chain.

Falabella expands in Mexico

What: A new 300 sqm restaurant run by renowned French chefs Pourcel brothers opens on the Haussmann store first floor.

Why it is important: Culinary experiences are more and more important in department stores. This time, the department store bets on upscale chefs.

The restaurant will display a nature-inspired decor with a huge sculpture tree spreading its branches throughout the restaurant. The food will be Mediterranean, and a small gourmet store completes the restaurant.

Galeries Lafayette expands its restaurant offer

What: The extended product catalogue will be available to all customers in any El Corte Inglés' store. The expert consultation service will offer an immediate online advice from a specialized seller through chat, telephone or video call.

The Expert Consultation service is designed to lift any customer's doubt, knowing that 74% of the people who send queries about a product, buy that same day. With this service, the online customer is offered an expert advice as if he was shopping in the store. The client chooses his favourite channel whether it's through a phone call, video call or chat.

The Extended Catalogue allows the client to access all articles from stores having the most complete offer and from the entire website. The service is provided by a sales associate using different devices and tools: PDA systems, sales terminals and, in some stores, large screens.

With this system, the customer will have access to the flagship store offer, to categories or brands that do not have a presence in their local store. It will also allow them to access the entire catalogue of a brand with a smaller presence in the local store.

El Corte Inglés launches extended services to customers 

What: "Diseño Latino" is the name of Falabella's new multiple collaboration. The Chilean chain selected six designers from three countries - Chile, Colombia and Peru - to design a capsule collection.

Why it is important: At a time when customers are favouring locally-made products, Falabella is the first multi-Latino retailer offering a transversal collaboration in the region, with talent and local workforce.

Francisca Larrain and Lupe Gajardo from Chile, Sisterly Style and Maygel Coronel of Colombia, and Amaro Casanova and Anis Samanez from Peru were selected by the Chilean giant on this occasion. In total, 61 references for women, with prices between USD 30 and 85.

Falabella bets on regional fashion

What: Falabella was the only Chilean company selected to join the Dow Jones Sustainability World Index (DJSI World), which unites leading international listed companies by their sustainability performance.

Why it is important: The company was ranked fifth worldwide in the retail category and within the top 2%, as it achieved the highest score for social reporting, which evaluates the transparency, quality and scope of this information.

Falabella included in the Dow jones sustainability index

What: Consolidated net income has grown 79% since the same period last year.

Why it is important: Due to the group's various activities (Retail, Property, and Banking), consolidated net income has seen 79% growth compared to the January to September period last year.

SM Investments Corporation reported a consolidated net income of EUR 473 million in the January to September period, higher by 79% from EUR 263 million in the same period last year.

Consolidated revenues rose 5% to EUR 5 trillion in the first nine months from EUR 4.8 trillion in the same period last year.

Banking accounted for 60% of SM's reported net earnings from core businesses, followed by property at 27% and retail at 13%. Total assets were at EUR 23 billion. Gearing ratio stood at 40% net debt to 60% equity.

In the third quarter the SM group made significant commitments towards sustainability and climate change. SM Investments and SM Prime Holdings Inc. both formally joined as signatories in support of the Taskforce for Climate-related Financial Disclosures (TCFD), demonstrating their commitment to safeguarding against climate risk through better disclosures.

SM Prime announced that it will target for more than 50% of electricity use across its businesses to come from renewable sources by the end of 2022, a commitment in support of the Philippine national goal of 35% renewable energy supply by 2030.

SM Investments net income grows 79% to EUR 473 million in nine-month period

During the 62nd General Assembly, IADS members elected the Association's new President, Holger Blecker (Breuninger), new Vice President, Kamshim Lau (Lifestyle International), as well as the new Executive Committee, composed of Juan Carlos Esbribano (El Palacio de Hierro), Nicolas Houzé (Galeries Lafayette) and Peter King (Magasin du Nord). A press release will be issued in the coming weeks.

IADS Who's Who

What: Manor partnered with ad agency BETC to imagine two different TV ads which will be broadcasted from next week on Swiss television channels.

Why it is important: The humoristic ad campaign relies on the importance of family, as well as finding the perfect gift (at Manor for sure!).

TV campaign 1

Tv campaign 2

What: Since 2017 Falabella has been working on the development of one of its most ambitious projects.

Why it is important: The store, located within the Parque Arauco complex in the exclusive neighbourhood of Las Condes, will cover 25,000 square meters and 4 levels. It will include competitive sections such as a 1800 square meters dedicated to women's footwear (with a storage capacity of up to 30,000 pairs), and a 1570 square meters perfumery area, the largest in the country.

It will also host a multi-brand space with the presence of international firms such as Liu-Jo, Michel Kors, Brownie and Adolfo Domínguez, among others. In addition, the mega store will bet on omnichannel, giving continuity to the projects of the Chilean company to be a leader in digital.

Falabella to open its largest store

Falabella construction record video (in Spanish)

New Falabella Testimonials video (in Spanish)

Press Tour & Breakfast video (in Spanish)

What: The pop-up store, set in the Atrium of SKP in Beijing, will feature an exclusive selection of Prada's gold jewellery.

Why it is important: SKP is the first department store to welcome Prada's jewellery collection which is based on the famous triangle logo.

Prada Triangolo pop-up store at SKP

What: Lafayette Gourmet, the Galerie Lafayette gourmet store, is now offering a wide product offer online, including fresh products such as fruit or vegetable baskets, fish and dairy.

Why it is important: Called "Le Gourmet", the e-store probably gathers the largest gourmet offer for home delivery in Paris.

The e-store is organised by product categories: "artisans", sweets and pastries, dry groceries, wine and spirits, gift ideas.

Same day click & collect is proposed as well as same day delivery service, only available in Paris.

Lafayette Gourmets' online store

What: Manor extends its beauty and wellness space, making it the largest space dedicated to beauty services in Switzerland.

Why it is important: The 700-meter squared space is the largest beauty services area in Switzerland.

Le Studio already collaborates with L'Oréal and Clinique Matignon and will welcome three additional partners: Spa Nuxe, Alessandro nail bar, and Laviniam (providing eyebrow and permanent makeup services).

Manor Lausanne unveils this new space during two open days on Friday 29 and Saturday 30 October. The opportunity to present all the novelties, to meet the customers around numerous animations and to make them discover the services, with an exceptional reduction of 20%.

Manor Lausanne: "Le Studio" becomes the largest beauty and wellness salon in Switzerland

What: The retailer celebrates World Energy Saving Day by turning off the facades and screens of its stores. Under the slogan "It's time. Save energy and live better", El Corte Inglés proposes discounts in departments such as electronics and appliances, sports, home and a whole series of accessories that benefit to energy savings.

Why it is important: El Corte Inglés has managed to reduce its electricity consumption by almost 25% in five years. In 2020 the decrease was 10.7% compared to 2019 due, in part, to the restrictions of schedules and commercial activity. This decrease means a saving of more than 141,538,632 kWh, equivalent to the consumption of about 43,000 households in a year.

El Corte Inglés celebrates World Energy Saving Day by turning off the lights

What: The partnership is part of Manor's "Rethink Everyday" project. During the period from 18 to 31 October, for each purchase of a "Rethink Everyday" or a "Manor Bio" product in the food department, Manor donates CHF 1 to My Blue Planet.

Why it is important: With "Rethink Everyday", Manor has been dedicated for years to reviewing its processes to be more sustainable. Based on recognized international standards "Rethink Everyday" labels products are made from more durable materials (for example, organic cotton validated by GOTS).

The partnership works for all purchases in Manor department stores and Manor Food supermarkets as well as online at www.manor.ch. The aim is to raise consumer awareness of "Rethink Everyday" products that are manufactured according to defined sustainability standards.

The amount donated by Manor during the two weeks of the "Rethink Everyday" campaign throughout Switzerland will be entirely dedicated to projects protecting the climate.

My Blue Planet is an independent Swiss non-profit climate protection organisation based in Winterthur. It develops concrete measures for climate protection in everyday life and explains to the population that each individual can contribute to this protection.

Manor partners with my blue planet

What: After Austria (2017) and Switzerland (2019), Breuninger will expand online to Poland in October 2021, delivering to non-German-speaking countries for the first time.

Why it is important: The launch of the new online shop www.breuninger.com/pl is a new step towards internationalisation and part of the department store's ambitious growth strategy.

Both the online store and the customer service are offered entirely in Polish. The locally established online payment methods P24 and BLIK will already be available by the end of 2021. Orders are shipped from the Breuninger Warendienstleistungszentrum in Sachsenheim near ths receive their orders within three to five workine company's headquarters in Stuttgart. Customerg days. At the start of www.breuninger.com/pl, shipping costs for orders from Poland will be eliminated.

Polish customers will be able to discover around 1,500 international designer brands with a product range similar to the existing Breuninger online shops in Austria and Switzerland.

Breuninger expands to Poland

What: World Retail Awards recognises leading retailers for their role in tackling the pandemic.

Why it is important: El Corte Inglés won the "Community Champion" Award, while The SM Supermalls won the "Customer Experience Breakthrough" Award.

After nearly two years of unprecedented change, the World Retail Awards were completely refocused for 2021 to reflect the extraordinary work by retailers around the world in supporting their customers, their employees and their communities whilst shaking-up their own business models in order to survive.

The category shortlists were selected by panels of retail industry experts and the winners by the Grand Jury which was made up of highly experienced senior retailers from around the world and across all sectors and channels.

Community Champion Award

When countries were forced to lock down around the world, millions of people faced isolation in their homes. Essential retailers in particular found themselves in the frontline to support not just their customers, but their communities. This special award put a much deserved spotlight on the way retail companies went far beyond their day-to-day aim of selling goods to customers, highlighting their purpose and values.

Winner: El Corte Inglés

Customer Experience Breakthrough Award

When essential retailers suddenly had to rethink their operations to serve a massive increase in customer demand, while remaining safe and secure, they developed many new services including click & collect, kerbside pick-up and self-scanning. Non-essential retailers also developed new services to meet customer needs, even though their stores remained closed. This award recognises not just customer experience innovations but also the way they were developed and implemented so quickly.

Winner: #AweSMLearning Campaign, SM Supermalls

The Grand Jury

Juliet Anammah, Chair, Jumia

Jessica Anuna, Founder & CEO, Klasha

Bernie Brookes, Chairman, Agriculture Innovation Australia

Sarah Davis, Former CEO, Loblaws

Arlette Guthrie, SVP Human Resources, Home Depot

Renuka Jagtiani, Chair, Landmark

Andrew Jennings, NED, Ted Baker

Bijou Kurien, Chairman, RAI

Caito Maia, Founder and CEO, Chilli Beans

Jaume Miquel, Chairman and CEO, Tendam

Neela Montgomery, CEO, CVS Pharmacy

Olga Naumova, CEO, Vostochny Souz

Kate Walsh, SVP, Omnichannel Retail, Pandora

Tea Colaianni, Founder and Chair, Diversity in Retail

WRA 2021 press release

What: The retailer won 4 awards for mall of the year, brand transformation of the year, store of the year and supermarket of the year

Why it is important: More than 200 projects from 15 countries across Asia have been submitted.

Awards

Mall of the year for THE MALL LIFESTORE NGARMWONGWAN

Brand transformation of the year for THE MALL LIFESTORE NGARMWONGWAN

Store of the year for THE MALL LIFESTORE NGARMWONGWAN

Supermarket of the year for GOURMET MARKET THAILAND

The Mall Group wins big at 2021 Retail Asia Awards 

What: Peter Fabricius, formerly CFO of Magasin du Nord, is appointed CEO.

Why it is important: The new owners of Magasin du Nord did not come with the idea to challenge what had been built so far by the existing team, and the appointment of Mr Fabricius show the trust placed in the existing strategy.

Following the purchase of IADS member Magasin du Nord by Peek & Cloppenburg, "changes in the continuity" are taking place at the top management. Peter King leaves the CEO seat to Peter Fabricius, who joined Magasin du Nord in 2005 and was appointed CFO in 2009. Mr King remains in an advisory position to Magasin du Nord.

Peter Fabricius appointed CEO of Magasin du Nord

What: SM Markets, the supermarket business of SM, is ''Here to Serve' the needs of the local economy as it increases support for food businesses carried in its stores.

Why it is important: Restaurants remained closed due to the long and strict lockdowns. SM supports the community by carrying its partner restaurants' products in its stores (ready-to-cook or ready-to-eat meals).

SM Markets supported its micro, small and medium (MSME) suppliers' operations. It worked closely with its supply chain partners as well to keep its shelves stocked and enhanced its product range to provide essential items for its customers.

SM Markets' "Here to Serve"

What: The Retail Design Institute has named 25 winners in its 50th annual design competition.

Why it is important: Retail projects opened in 2020 (January 1 through December 31) were competing and represent design achievement in categories ranging from pop-up stores to fine dining. This year's competition attracted submissions from 62 retail teams around the globe.

The winning projects make up the Institute's "Class of 2020" — projects represent the "best of the best" stores opened in 2020. The Institute's annual "class" represents the best of the best regardless of store format or retail merchandise/service classification.

El Palacio de Hierro renovated Perisur store

Institute's 50th International Design Competition Winners Announced

What: SM Markets (the mother brand of SM Supermarket, SM Hypermarket, and Savemore Market) will serve more communities around the country as it expands its presence online.

Why it is important: SM Markets online (https://smmarkets.ph/) is currently available in 70 branches in Metro Manila, Cebu, Davao and key cities in Luzon and Visayas. It is targeting to be available in 100 locations covering most of the key areas in the country by the end of 2021.

SM Markets Online showcases all basic necessities as well as select premium or specialty items. Pick-up or delivery and cash or card payment options are available to customers. SM Markets is also available through the ShopSM Super App recently launched in September through Google Play Store and the Apple App Store. SM Markets Online also provides multiple payment options including GrabPay.

SM Markets also bolstered its omni-channel presence with its recent partnership with GrabMart allowing customers to have their orders delivered in just an hour. It is also looking at tapping other digital platforms to provide a more personalized shopping experience as well as expanding its collection points across its store portfolio.

SM Markets increases digital presence

What: Galeries Lafayette will install a free roller dance track with cult music from Disney+.

Why it is important: Galeries Lafayette extends their Christmas celebration inviting customers to enjoy a wacky toy adventure in the heart of a cosmic Christmas village.

The roller-skating track will be installed on the 4th floor of the Paris Haussmann location. The area will be a life-sized playground inviting visitors of all ages to dance and roller skate to music from Disney+ films and series.

Galeries Lafayette Haussmann to install a free roller-skate dance track

What: Marcin Winkler, until recently head of digital at Avon, has taken the position of general manager for the retailer's new Polish branch.

Why it is important: Breuninger just launched its online store in Poland. Marcin Winkler will be responsible for the company's expansion in Central and Eastern Europe.

Until September this year, Marcin Winkler was the head of digital department and a member of the management board at Avon Cosmetics Polska. He worked here for three years. During this period, he managed Avon's digital transformation. He was responsible for the development and implementation of the company's digital strategy, managed e-commerce activities in B2B and B2C channels and performance marketing. He joined Avon from Azagroup, where he spent nearly two years as vice president.

Beruninger's general manager