retail news in context, analysis with attitude

• Loblaw Companies announced this week that it plans to "invest approximately $1 billion into its Canadian retail business in 2016," which will be used largely "for approximately 50 new stores and 150 renovations to existing stores, increased e-commerce expansion, and IT infrastructure and supply chain projects."

The company said that the investment "is expected to create nearly 20,000 jobs through store staffing and construction."

• Tesco announced that it has agreed to sell an 8.6 percent equity stake in Lazada Group, an e-commerce platform in Southeast Asia, to China's Alibaba Group Holding for $129 million (US). The sale will leave Tesco with an 8.3 percent stake in Lazada, and is part of Tesco's ongoing efforts to trim back non-essential holdings and invest proceeds in its core businesses.
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