DOCSLIB.ORG

CCC 2007 12 Aldi S Clothing Bargains.Pdf (6.233Mb)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
CCC 2007 12 Aldi S Clothing Bargains.Pdf (6.233Mb) Aldi‘s clothing bargains – discount buys discounting standards? Working conditions in Aldi‘s suppliers in China and Indonesia Suggestions for consumer and trade union action Thanks • Published by Thanks for fi nancial support: The SÜDWIND Institute would like to thank the “Nordrhein-West- fälische Stiftung für Umwelt und Entwicklung” for its fi nancial sup- port for the production of the German and English booklets. Published by: SÜDWIND Institut für Ökonomie und Ökumene, Lindenstr. 58-60, 53721 Siegburg, Phone: 02241 / 259530, Fax: 02241 / 51308, email: [email protected] Authors: Ingeborg Wick. Chapter 5: N.N. Chapter 6: Urban Community Mission (PMK) / Jakarta. Appendix: with the help of Dominic Kloos. Translations: Edelgard Abram, Liyun Yu-Lingnau, Elke Riekhoff, Ingeborg Wick. Main English translation: John McLaughlin. Layout: Frank Zander. Cover design: Frank Zander (Photos: Roland Müller-Heidenreich, Frank Zander). Copyright photos: BFILM-Verleih/EYZ-Media, Hans Breker, Winfried Fleischmann, Harald Klöper, Dominic Kloos, Bianca Kühl, Klaus Murawski, Roland Müller-Heidenreich, Gisela Pütz, Ingeborg Wick, Frank Zander. Siegburg, May 2007. ISBN 978-3-929704-37-4 2 Working conditions in Aldi‘s suppliers in China and Indonesia • © SÜDWIND 2007 Contents Aldi’s clothing bargains: discount buys discounting standards? Working conditions in Aldi’s suppliers in China and Indonesia. Suggestions for consumer and trade union action. (Translation of the German booklet “All die Textilschnäppchen – nur recht und billig? Arbeitsbedin- gungen bei Aldi-Zulieferern in China und Indonesien. Aktionsvorschläge für VerbraucherInnen und GewerkschafterInnen“, Siegburg May 2007) Contents Preface by Margret Mönig-Raane, ver.di / German Services Union . 4 Preface by Wilfried Neusel, Evangelical Church in the Rhineland . 5 Summary . 6 1. Introduction . 7 2. Portrait of Aldi: Top textile and clothing retailer and discounter . 10 3. Fiercer competition after the phase-out of the WTO Agreement on Textiles and Clothing . 22 4. Discounters and global structural change in the retail trade . 27 5. Case study 1: Working conditions in Chinese supplier factories to ALDI . 33 6. Case study 2: Working conditions in Indonesian supplier factories to ALDI . 60 7. Statement by Aldi and SÜDWIND response . 73 8. Companies’ global social accountability . 76 9. Suggestions for consumer and trade union action . 80 Service section . 85 Bibliography . 85 Abbreviations . 88 Currency details . 89 List of selected ILO Conventions . 89 Glossary . 90 Contact addresses . 93 © SÜDWIND 2007 • Working conditions in Aldi‘s suppliers in China and Indonesia 3 Preface Preface by Margret Mönig-Raane, ver.di (German Services Trade Union) eople need clothes, people wear clothes – Politicians have the task of preparing and im- Pthis is a basic need of civilisation. And cloth- plementing demands for human and employer ing must be bought in a responsible way. rights, and for social and ecological standards in international trade agreements and the rules for We all know the pictures of Asian factories spurring the economy. and the miserable conditions, in which the work- ers, overwhelmingly women and also children, In the specifi c case of the discounter Aldi, manufacture trousers, jackets and dresses for the ver.di backs the plan to exert pressure by run- global market. Much of this clothing ends up in ning a campaign focusing explicitly on the com- discount stores such as Aldi, where, week after pany. The aim must be for Aldi to commit itself to week, cheap socks, t-shirts or pyjamas are adver- a binding code of conduct that insists on decent tised in newspapers in large colourful pull-outs. working conditions in its suppliers’ factories. In view of the buying power of a company like Aldi, The largest discounter in Germany is epito- this can have a real impact on factory managers mized by its isolation from the outside world. The in China, Indonesia and other Asian countries, sourcing of the clothes it sells and the conditions which trample all over employees’ rights. in which they are produced are something the company and its owners, the Albrecht brothers, But consumers also have a key role to play: have long cloaked in secrecy. bargain-seeking, “Geiz-ist-Geil” (Stinginess-is- Sexy) thinking has negative consequences for all This brochure provides comprehensive infor- sector workers. The loss of workers’ rights, low mation on the research by the SÜDWIND Insti- pay and growing pressure are the fl ip side of an tute, which has shed light on this shady area and ever-expanding, limitless discount economy. In a discovered factories in Indonesia and China that world, in which interrelatedness and mutual de- produce clothing for Aldi. The business princi- pendencies are continually growing, responsibil- ples operating in these factories seem to be: em- ity for this web of inter-reliance is also growing. ployees are badly paid, have no rights and im- Like many other organisations, ver.di has decid- mediately lose their jobs if they dare to demand ed to face up to this task. better conditions. The need for affordable, fashionable and Together with several alliance partners, the good quality clothing is something we expressly service trade union “ver.di” has campaigned for endorse. Yet all of us – consumers, retailers and many years for the implementation of interna- suppliers – have it in our power to determine tionally recognised social standards in trade and whether human beings manufacturing goods to industry. Together with the Clean Clothes Cam- meet our needs have to do so with no rights and paign and Attac, we have recently publicised no commensurate payment – or, whether their the sourcing conditions of goods being sold by working conditions comply with social and eco- Tchibo and Lidl. Together with church-based, logical requirements. We can all make our own environmental and developmental organisa- contribution. tions, ver.di set up the CorA-Network for Corpo- Margret Mönig-Raane, rate Accountability, which exposes poor working deputy chair of ver.di conditions and seeks direct discussions with the companies concerned. However, we are convinced that as well as dis- cussions and greater public transparency, politi- cians also have key responsibilities. Companies’ voluntary commitments to comply with social and environmental standards are not enough. 4 Working conditions in Aldi‘s suppliers in China and Indonesia • © SÜDWIND 2007 Preface Preface by Wilfried Neusel, Evangelical Church in the Rhineland s the gulf between poverty and prosperity Textiles and clothing for Aldi are produced in Ain Germany continues to grow, so, too, does these countries under unacceptable working and the consumption of both cheap goods and lux- living conditions. Under no circumstances can ury goods. Discount shops are springing up like this situation be allowed to continue. As consum- mushrooms, outdoing one another in the bid to ers, we cannot allow ourselves to be benefi ciar- provide the cheapest possible special offers. A ies of violations of the human rights of sewing large number of Germans relies on shopping at workers in the countries of the South, even if our discounters for their day to day survival. household budget is stretched. In the case of Germany’s biggest discounter, The Evangelical Church in the Rhineland, however, the picture is somewhat different. More within the framework of the Conciliar Process, is than four fi fths of the population shop here – i.e. committed to “Justice, Peace and the Integrity of not just the poor, but the higher earners, who ac- Creation“. This commitment is even anchored in tually represent the largest single group of cus- our church constitution. One practical example tomers in Aldi branches. Aldi appeals to all, also of this kind of commitment is when consumers selling better value products at unbelievably low tell Aldi to campaign for decent conditions in the prices. textile and clothing production. As the research fi ndings from China and In- Wilfried Neusel, donesia demonstrate, Aldi’s bargains, however, Oberkirchenrat and Head of the Department come at a high price. for “Ecumenism, Mission, Religions“ of the Evangelical Church in the Rhineland © SÜDWIND 2007 • Working conditions in Aldi‘s suppliers in China and Indonesia 5 Summary (Photo composition: Roland Müller-Heidenreich & Frank Zander) & Frank Roland Müller-Heidenreich (Photo composition: Summary his publication provides the fi rst ever exami- The nature and extent of Aldi’s T&C business Tnation of the textile and clothing (T&C) busi- were helped, on one hand, by developments in ness of the Aldi-Group, the biggest discounter in the world T&C trade and, on the other, by in- Germany and Europe. ternational structural transformation in the retail trade. To begin with, the enormous signifi cance of the market power of the T&C retailer, Aldi, and The increased competition in the international its T&C sourcing both domestically and overseas T&C trade, liberalised in 2005, has led to mul- are looked at against the background of the dis- tinational buyers exerting further price pressure count concept initiated by Aldi in grocery retail- on suppliers, at the cost of the workers. The mod- ing. ernisation and internationalisation of the retail trade within the framework of the policy of the At the heart of the publication, however, are World Trade Organisation is also having nega- the two case studies on working conditions in tive impacts on increasing numbers of workers. Aldi supplier factories in China and Indonesia, in which numerous violations against legal re- Analysis of the worldwide debate on corpora- quirements and conventions of the International tions’ voluntary global social responsibility shows Labour Organisation have been recorded. These that, in the absence of a binding regulatory violations are in part well in excess of those re- framework, this has remained ineffective. Thus, corded in research published in recent years into proposals for action include consumers’ protests the situation of sewing workers employed by against Aldi’s textile business as well as legal ini- multinationals’ T&C suppliers.
Load more

Recommended publications
  • OSB Representative Participant List by Industry
    OSB Representative Participant List by Industry Aerospace • KAWASAKI • VOLVO • CATERPILLAR • ADVANCED COATING • KEDDEG COMPANY • XI'AN AIRCRAFT INDUSTRY • CHINA FAW GROUP TECHNOLOGIES GROUP • KOREAN AIRLINES • CHINA INTERNATIONAL Agriculture • AIRBUS MARINE CONTAINERS • L3 COMMUNICATIONS • AIRCELLE • AGRICOLA FORNACE • CHRYSLER • LOCKHEED MARTIN • ALLIANT TECHSYSTEMS • CARGILL • COMMERCIAL VEHICLE • M7 AEROSPACE GROUP • AVICHINA • E. RITTER & COMPANY • • MESSIER-BUGATTI- CONTINENTAL AIRLINES • BAE SYSTEMS • EXOPLAST DOWTY • CONTINENTAL • BE AEROSPACE • MITSUBISHI HEAVY • JOHN DEERE AUTOMOTIVE INDUSTRIES • • BELL HELICOPTER • MAUI PINEAPPLE CONTINENTAL • NASA COMPANY AUTOMOTIVE SYSTEMS • BOMBARDIER • • NGC INTEGRATED • USDA COOPER-STANDARD • CAE SYSTEMS AUTOMOTIVE Automotive • • CORNING • CESSNA AIRCRAFT NORTHROP GRUMMAN • AGCO • COMPANY • PRECISION CASTPARTS COSMA INDUSTRIAL DO • COBHAM CORP. • ALLIED SPECIALTY BRASIL • VEHICLES • CRP INDUSTRIES • COMAC RAYTHEON • AMSTED INDUSTRIES • • CUMMINS • DANAHER RAYTHEON E-SYSTEMS • ANHUI JIANGHUAI • • DAF TRUCKS • DASSAULT AVIATION RAYTHEON MISSLE AUTOMOBILE SYSTEMS COMPANY • • ARVINMERITOR DAIHATSU MOTOR • EATON • RAYTHEON NCS • • ASHOK LEYLAND DAIMLER • EMBRAER • RAYTHEON RMS • • ATC LOGISTICS & DALPHI METAL ESPANA • EUROPEAN AERONAUTIC • ROLLS-ROYCE DEFENCE AND SPACE ELECTRONICS • DANA HOLDING COMPANY • ROTORCRAFT • AUDI CORPORATION • FINMECCANICA ENTERPRISES • • AUTOZONE DANA INDÚSTRIAS • SAAB • FLIR SYSTEMS • • BAE SYSTEMS DELPHI • SMITH'S DETECTION • FUJI • • BECK/ARNLEY DENSO CORPORATION
    [Show full text]
  • The 2007 (Summer)
    LAWDRAGONLAWDRAGON 500 500LEADING DEALMAKERS IN AMERICA w B Y K ATRINA D EWEY e fter a second-year summer stint review with Manufacturers Hanover financ- at Paul, Weiss, Rifkind, Wharton ings. Within a year, he was on the team han- & Garrison in 1979, Robert Spatt dling Seagrams’ multi-billion dollar hostile A was ready to take the New York bids for St. Joe Minerals Corp. and then for law scene by storm. Conoco against DuPont. Beware the bite of First, though, there was the matter of rent the M&A bug. to pay on an overpriced New York apart- A few more years and Spatt, as an associate ment. He and his high school sweetheart, representing the financial advisor, was part of Lisa, had married before his third year at watershed deals in M&A’s early history, Michigan Law School, and after graduation including the Texaco battle with Pennzoil to had leased a small three-room apartment buy Getty Oil and the Allied/Bendix/Martin opposite Lincoln Center. Marietta “Pac-Man” deal. Small space, killer view. The first billion-dollar leveraged buyout? His classmates took the summer off to Kohlberg Kravis Roberts & Co.’s 1984 acqui- study for the bar exam, and maybe climb sition of Wometco, a diversified company the Alps, while Rob and Lisa took a week to whose holdings included cable operations move from Ann Arbor, Mich., to New York. and other media. At birth, Spatt’s son Mark The next Monday, Spatt reported to work was given an infant t-shirt, ‘Wometco Kid,’ at Simpson Thacher & Bartlett, juggling bar commemorating his father’s Lamaze lapses.
    [Show full text]
  • Tengelmann Delivers Solid Results
    The international marketing magazine for fresh produce buyers in Europe By Steven Maxwell Thursday 2nd September 2010, 15:44 GMT Tengelmann delivers solid results German group benefits from strong performance of domestic businesses, but says US subsidiary is �under pressure� erman grocery retail group economic crisis. However, the group said that the US retail G Tengelmann has reported a 2.6 per sector remained “constantly under cent increase in turnover for its With a workforce of 20,959 employed at pressure” as a result of the global economic 2009 financial year compared with the 660 branches, the supermarkets operated crisis, underlining recent press reports that same period a year before, in spite of what by the group’s Kaiser’s Tengelmann division A&P plans to close 25 stores as part of a it described as recession-related “pressure” managed to equal their previous year’s plan aimed at restoring profitability to the in several of its markets. results, generating sales of €2.58bn. business. The group, which operates a network of However, Mr Haub admitted that Tengelmann continues to hold a 15 per cent 4,519 stores in 16 European countries as well Tengelmann had “not yet overcome” stake in discounter Netto after selling its as the US, recorded sales totaling €11.34bn challenges in the business, adding that the Plus subsidiary to the company in 2009, for the year, which its managing partner, sale of branches in the Rhine-Main region while it is currently awaiting approval from Karl-Erivan Haub, said reflected a growth in was “part of an extensive project to restore authorities in Romania and Bulgaria for the sales and profits.
    [Show full text]
  • The Reason Given for the UK's Decision to Float Sterling Was the Weight of International Short-Term Capital
    - Issue No. 181 No. 190, July 6, 1972 The Pound Afloat: The reason given for the U.K.'s decision to float sterling was the weight of international short-term capital movements which, despite concerted intervention from the Bank of England and European central banks, had necessitated massive sup­ port operations. The U.K. is anxious that the rate should quickly o.s move to a "realistic" level, at or around the old parity of %2. 40 - r,/, .• representing an effective 8% devaluation against the dollar. A w formal devaluation coupled with a wage freeze was urged by the :,I' Bank of England, but this would be politically embarrassing in the }t!IJ light of the U.K. Chancellor's repeated statements that the pound was "not at an unrealistic rate." The decision to float has been taken in spite of a danger that this may provoke an international or European monetary crisis. European markets tend to consider sterling as the dollar's first line of defense and, although the U.S. Treasury reaffirmed the Smithsonian Agreement, there are fears throughout Europe that pressure on the U.S. currency could disrupt the exchange rate re­ lationship established last December. On the Continent, the Dutch and Belgians have put forward a scheme for a joint float of Common Market currencies against the dollar. It will not easily be implemented, since speculation in the ex­ change markets has pushed the various EEC countries in different directions. The Germans have been under pressure to revalue, the Italians to devalue. Total opposition to a Community float is ex­ pected from France (this would sever the ties between the franc and gold), and the French also are adamant that Britain should re­ affirm its allegiance to the European monetary agreement and return to a fixed parity.
    [Show full text]
  • As Filed with the Securities and Exchange Commission on June 11, 1998
    AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JUNE 11, 1998 REGISTRATION NO. 333-48309 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 ---------------- AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ---------------- EURONET SERVICES INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE 6099 74-2806888 (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) ---------------- HORVAT U. 14-24 1027 BUDAPEST HUNGARY 011-361-224-1000 (ADDRESS AND TELEPHONE NUMBER OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES) CT CORPORATION SYSTEM 1633 BROADWAY NEW YORK, NEW YORK 10019 (212) 664-7666 (NAME, ADDRESS AND TELEPHONE NUMBER OF AGENT FOR SERVICE) ---------------- COPIES TO: ARNOLD R. WESTERMAN, ESQ. JAMES M. BARTOS, ESQ. ARENT FOX KINTNER PLOTKIN & KAHN, PLLC SHEARMAN & STERLING 1050 CONNECTICUT AVENUE, N.W. 199 BISHOPSGATE WASHINGTON, D.C. 20036 LONDON EC2M 3TY ENGLAND ---------------- APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: As soon as practicable after the effective date of this Registration Statement. If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, please check the following box. [_]
    [Show full text]
  • Q3 2009 Master:New Magazive Layout V4 Copy
    Quarter 3 / 2009 insights from global retailers in this issue... Great Atlantic & Pacific Tea Company, Follett, Gordmans, Under Armour, Eldorado, University of Parma, Mahaveer Wines, Sensormatic do Brasil Eletronica Ltda., Terry White Chemists also... Now Asian Retailers Can Achieve Better Inventory Management Welcome to a new edition of In-Store, your gateway to the latest trends, news, and insights in global retail. As the retail cli- mate evolves, so does technology. In today’s tough economic times, more and more retailers are investing in retail solutions that maximize profitability, improve shrink and help them be better positioned for future growth. This issue takes you on a worldwide journey, showcasing some of the world’s leading retailers. Experience first-hand as they share business challenges and successes they have achieved through implementing different in-store electronic security technologies. We greatly value your feedback. If you have comments or ideas for stories you would like featured in future editions, please email us at [email protected]. Stay tuned... there’s plenty more In-Store! 2 The Great Atlantic & Pacific Tea Company Adds Over 400 Stores to a Growing Base of More Than 16,000 Stores Worldwide Currently Monitored by Sensormatic® Analytics to Help Control Shrink and Boost Profits In today’s tough economic times, more solution. According to Don Terreri A&P’s and more retailers are investing in busi- senior director of asset protection, “The ness intelligence to help control shrink Sensormatic Analytics suite helps meet and boost their profits. Recently The Great both our short-term and long-term objec- Atlantic & Pacific Tea Company (A&P), a tives, offering us solutions that can moni- leading U.S.
    [Show full text]
  • Magazine Template
    Saint Joseph’s University, Summer 2010 Achieving a First: SJU’s Personal Connections to Professor and Students Doneene Damon ‘89 Rebuilding Haiti Feed the Hungry FROM THE PRESIDENT A little more than five years ago, Saint Joseph’s University embarked on Plan 2010: The Path to Preeminence, an ambitious strategic plan that would enable us to be recognized as the Northeast’s preeminent Catholic comprehensive university. Now, with so many of Plan 2010’s initiatives accomplished, we look forward to the coming decade from a position of academic and financial strength. Our academic position has been affirmed by the tremendous achievements of our talented faculty and students. U.S. News & World Report recently ranked the Erivan K. Haub School of Business Executive MBA program 20th in the nation. Additionally, over the past two years, four graduating seniors in the College of Arts and Sciences were awarded Fulbright English Teaching Assistantships, among other prestigious scholarships. There is also wonderful news about graduates enrolled in the Jesuit Volunteer Corps (JVC). Saint Joseph’s tied with Gonzaga University for having the highest number of alumni participants in the JVC. I am immensely proud that 16 alumni have committed to one year of living and working for others. Our successes do not mean that we will rest on our laurels, however. Saint Joseph’s is blessed with a robust planning culture, and after more than a year of intensive data gathering and planning, a framework for Plan 2020: Gateway to the Future has crystallized. The bold steps we take as we continue to expand our goals will focus on Plan 2020’s five initiatives: academic distinction and a transformative student experience; mission and diversity; global and community engagement; alumni involvement; and financial health.
    [Show full text]
  • Could Aldi Succeed in Canada? Sonia Boyer [email protected]
    Bucknell University Bucknell Digital Commons Global Manager Abroad Global Management Spring 2018 Could Aldi Succeed in Canada? Sonia Boyer [email protected] Justin Carr [email protected] Sam Loomis [email protected] Maria Prothero [email protected] Quentin Street [email protected] See next page for additional authors Follow this and additional works at: https://digitalcommons.bucknell.edu/glbm400 Recommended Citation Boyer, Sonia; Carr, Justin; Loomis, Sam; Prothero, Maria; Street, Quentin; and Chen, Jimmy, "Could Aldi Succeed in Canada?" (2018). Global Manager Abroad. 7. https://digitalcommons.bucknell.edu/glbm400/7 This Article is brought to you for free and open access by the Global Management at Bucknell Digital Commons. It has been accepted for inclusion in Global Manager Abroad by an authorized administrator of Bucknell Digital Commons. For more information, please contact [email protected]. Authors Sonia Boyer, Justin Carr, Sam Loomis, Maria Prothero, Quentin Street, and Jimmy Chen This article is available at Bucknell Digital Commons: https://digitalcommons.bucknell.edu/glbm400/7 Could Aldi Succeed in Canada? GLBM 400 Professor Chen Sonia Boyer, Justin Carr, Sam Loomis, Maria Prothero, and Quentin Street TABLE OF CONTENTS Contextual Information 2 History of Aldi 2 Research Questions 5 Competitive Landscape 6 United States 7 Canada 8 Comprehensive Venture Analysis 11 Cultural and Social Aspects 12 Political Aspects 14 Economic Aspects 14 Recommendations 15 References 18 Appendices 20 1 1. CONTEXTUAL INFORMATION AND RESEARCH QUESTIONS 1.1 History of Aldi Initial Growth In 1946 a pair of brothers named Karl and Theo Albrecht founded the supermarket chain Aldi in Essen, Germany. The storefront, a local grocery store, had been in operation since 1913 when the Albrecht’s mother began the business (“Company Profile”, 2018).
    [Show full text]
  • Squeezed Imprint
    Behind the scenes of the juice industry SQUEEZED IMPRINT Publisher: Christliche Initiative Romero e.V. (CIR) Schillerstraße 44a 48155 Münster Germany Tel: 02 51 / 67 44 13 - 0 Fax: 02 51 / 67 44 13 - 11 [email protected] | www.ci-romero.de Editorial board: Sandra Dusch Silva (V.i.S.d.P.), Daisy Ribeiro, Peter Knobloch Proof-reading: Dietmar Damwerth Translation: Christian Russau Design, layout, graphics and illustrations: Marco Fischer – grafischer.com Print: COS Druck & Verlag GmbH Houbirgstraße 20, 91217 Hersbruck © 2018 printed on 100% recycled paper This study was made possible with the financial support of the European Union and ENGAGEMENT GLOBAL on behalf of BMZ. Christian Initiative Romero is solely responsible for the content of the publication; the content shall in no way be regarded as Engagement Global GmbH, the Federal Minis- try for Economic Cooperation and Development or the EU’s standpoint. Christian Initiative Romero > SQUEEZED – Behind the scenes of the juice industry CONTENT Foreword ................................................................................................................................. 5 The supply chain at a glance: From the plantation into the bottle ................................ 6 1 – THE CULTIVATION ...................................................................................................... 8 The price for the oranges ................................................................................................................ 10 Juice cartel punished ........................................................................................................................
    [Show full text]
  • Distribution
    The Single ÆTii/rAzet Review SUBSERIES II: IMPACT ON SERVICES Volvime A: Distribution The Single AíarJcet Revie%v IMPACT ON SERVICES DISTRIBUTION The Single Market Review series Subseries I — Impact on manufacturing Volume: 1 Food, drink and tobacco processing machinery 2 Pharmaceutical products 3 Textiles and clothing 4 Construction site equipment 5 Chemicals 6 Motor vehicles 7 Processed foodstuffs 8 Telecommunications equipment Subseries II — Impact on services Volume: 1 Insurance 2 Air transport 3 Credit institutions and banking 4 Distribution 5 Road freight transport 6 Telecommunications: liberalized services 7 Advertising 8 Audio-visual services and production 9 Single information market 10 Single energy market 11 Transport networks Subseries III —Dismantling of barriers Volume: 1 Technical barriers to trade 2 Public procurement 3 Customs and fiscal formalities at frontiers 4 Industrial property rights 5 Capital market liberalization 6 Currency management costs Subseries IV — Impact on trade and investment Volume: 1 Foreign direct investment 2 Trade patterns inside the single market 3 Trade creation and trade diversion 4 External access to European markets Subseries V — Impact on competition and scale effects Volume: 1 Price competition and price convergence 2 Intangible investments 3 Competition issues 4 Economies of scale Subseries VI —Aggregate and regional impact Volume: 1 Regional growth and convergence 2 The cases of Greece, Spain, Ireland and Portugal 3 Trade, labour and capital flows: the less developed regions 4 Employment, trade and labour costs in manufacturing 5 Aggregate results of the single market programme Results of the business survey EUROPEAN COMMISSION The S ingle ¿kícir/cet Review MPACT ON SERVICES DISTRIBUTION The Single /Harteet Review SUBSERIES II: VOLUME 4 OFFICE FOR OFFICIAL PUBLICATIONS OF THE EUROPEAN COMMUNITIES This report is part of a series of 39 studies commissioned from independent consultants in the context of a major review of the Single Market.
    [Show full text]
  • Retail Banking and Asset Management 20 Corporate and Investment Banking 32 Staff and Welfare Report 42 Our Share, Strategy and Outlook 48 Risk Report 54
    annual report 2004 highlights of Commerzbank group 2004 2003 Income statement Operating profit (€ m) 1,043 559 Operating profit per share (€) 1.76 1.03 Pre-tax profit/loss (€ m) 828 –1,980 Net profit/loss (€ m) 393 –2,320 Net profit/loss per share (€) 0.66 –4.26 Operating return on equity (%) 10.2 4.9 Cost/income ratio in operating business (%) 70.4 73.3 Pre-tax return on equity (%) 8.1 –17.4 31.12.2004 31.12.2003 Balance sheet Balance-sheet total (€ bn) 424.9 381.6 Risk-weighted assets according to BIS (€ bn) 139.7 140.8 Equity as shown in balance sheet (€ bn) 9.8 9.1 Own funds as shown in balance sheet (€ bn) 19.9 19.7 BIS capital ratios Core capital ratio, excluding market-risk position (%) 7.8 7.6 Core capital ratio, including market-risk position (%) 7.5 7.3 Own funds ratio (%) 12.6 13.0 Commerzbank share Number of shares issued (million units) 598.6 597.9 Share price (€, 1.1.–31.12.) high 16.49 17.58 low 12.65 5.33 Book value per share*) (€) 18.53 17.37 Market capitalization (€ bn) 9.1 9.3 Customers 7,880,000 6,840,000 Staff Germany 25,417 25,426 Abroad 7,403 6,951 Total 32,820 32,377 Short/long-term rating Moody’s Investors Service, New York P-1/A2 P-1/A2 Standard & Poor’s, New York A-2/A- A-2/A- Fitch Ratings, London F2/A- F2/A- *) excluding cash flow hedges structure of commerzbank group Board of Managing Directors Corporate Divisions Group Retail Banking and Corporate and Services Management Asset Management Investment Banking Staff Banking Service departments departments departments G Accounting and Taxes G Asset Management
    [Show full text]
  • Global Powers of Retailing 2021 Contents
    Global Powers of Retailing 2021 Contents Top 250 quick statistics 4 Global economic outlook 5 Top 10 highlights 8 Impact of COVID-19 on leading global retailers 13 Global Powers of Retailing Top 250 17 Geographic analysis 25 Product sector analysis 32 New entrants 36 Fastest 50 38 Study methodology and data sources 43 Endnotes 47 Contacts 49 Acknowledgments 49 Welcome to the 24th edition of Global Powers of Retailing. The report identifies the 250 largest retailers around the world based on publicly available data for FY2019 (fiscal years ended through 30 June 2020), and analyzes their performance across geographies and product sectors. It also provides a global economic outlook, looks at the 50 fastest-growing retailers, and highlights new entrants to the Top 250. Top 250 quick statistics, FY2019 Minimum retail US$4.85 US$19.4 revenue required to be trillion billion among Top 250 Aggregate Average size US$4.0 retail revenue of Top 250 of Top 250 (retail revenue) billion 5-year retail Composite 4.4% revenue growth net profit margin 4.3% Composite (CAGR Composite year-over-year retail FY2014-2019) 3.1% return on assets revenue growth 5.0% Top 250 retailers with foreign 22.2% 11.1 operations Share of Top 250 Average number aggregate retail revenue of countries where 64.8% from foreign companies have operations retail operations Source: Deloitte Touche Tohmatsu Limited. Global Powers of Retailing 2021. Analysis of financial performance and operations for fiscal years ended through 30 June 2020 using company annual reports, press releases, Supermarket News, Forbes America’s largest private companies and other sources.
    [Show full text]