All International articles – Page 194
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News
Netto Marken-Discount to streanmline brand assortment
Edeka’s discount chain Netto Marken-Discount is considering streamlining its assortment. The brand range may be cut back in favour of an optimised private-label offer, and B and C brands in particular may be replaced by own-labels. Drugstore and dairy products are expected to be affected the most, while condiments and ...
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Borders intends to stay in business
Entertainment retailer Borders said it fully intended to stay in business, despite widespread reports that it may be preparing a Chapter 11 bankruptcy filing.Bloomberg News had reported that the company could file for bankruptcy protection within days and would seek to close at least 150 stores. Borders said that it ...
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JC Penney to launch The Foundry Big & Tall Supply Co
JC Penney has announced plans to launch a new retail concept catering to the big and tall male customer.The chain will trade under the banner The Foundry Big & Tall Supply Co and will carry branded apparel and accessories as well as its private-label and exclusive merchandise. The stores will ...
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Gap names Art Peck as new president of Gap North America
Gap has named Art Peck its new president of Gap North America, effective immediately. Peck previously handled corporate strategy and oversaw the outlet division.He succeeds Marka Hansen, who has led the Gap brand in North America since 2007. Meanwhile, Pam Wallack, the current president of Gap Adult North America, will ...
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AnalysisX5 in battle for leadership with new growth strategy
Russia’s largest grocer, X5 Retail Group has revealed a change to its expansion strategy and will now be targeting small cities and towns with populations of more than 50,000 inhabitants.
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Kesko net sales rise 3.9% to £7.5bn
Retail group Kesko has reported a net sales rise of 3.9% to E8.8bn (£7.5bn) for 2010, with operating profit nearly doubling to E268m (£230m).In Finland, net sales increased by 4.3% and in other countries by 2.2%. International operations, which include Scandinavia, Baltics and Russia, accounted for 16.7% of net sales. ...
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LVMH jumps 19% to reach £4.6bn
Luxury goods and specialist retailer LVMH’s retailing arm recorded revenue growth of 19% in 2010 to reach E5.4bn (£4.6bn), and posted a profit of E388m (£332m), up 38% on 2009.Travel retail operator DFS posted a strong performance attributed to the rise in international travel, notably among Asian tourists.Beauty chain Sephora ...
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Bharti Walmart to open 12 new Best Price Modern Wholesale stores by March 2012
Walmart’s Indian joint venture operation Bharti Walmart is planning to open 12 new Best Price Modern Wholesale stores by March 2012, in a move away from its cautious expansion strategy.The group expects to ramp up the rate of expansion and open “more than 12” stores in 2013.Managing director and chief ...
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Deichmann sales climb 12.5% to £3.37bn
Shoe retail specialist Deichmann Group experienced a sales climb of 12.5% during the 2010 financial year, reaching E3.93bn (£3.37bn).The retailer said this was the biggest growth rate for 20 years. At Deichmann’s various banners in Germany sales were up 8%, or 4.8% on a like-for-like basis.
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Yamada Denki sales soar 11.5% to £12.2bn
Consumer electronics retailer Yamada Denki said sales soared 11.5% to¥1.66trn (£12.2bn) in the nine months to December 31.Operating profit increased by 77.7% to ¥97.6bn (£720m), while net profit rocketed 75.6% to ¥61.9bn (£456m).
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News
CVS revenues up 3.1% to £9.6bn
Pharmacy retailer CVS has reported revenues in its retail drugstore segment up by 3.1% to $14.9bn (£9.6bn) in its fourth quarter to December 31, as like-for-like sales rose 1.7%.The retailer’s pharmacy benefit management arm, however, experienced a revenue decline of 9.7% due to the termination of several large client contracts.President ...
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Blockbuster to add 3,000 Express DVD rental kiosks this year
Blockbuster is planning to add 3,000 Express DVD rental kiosks during 2011, despite closing stores and filing for Chapter 11 bankruptcy protection.Blockbuster Express owner NCR estimates that it will generate about $200m (£130m) in revenue in a single year from its kiosks and says it plans to reposition kiosks that ...
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NewsJaeger to expand into Russia
Premium fashion retailer Jaeger is to enter the Russian market with two Jaeger London stores.
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NewsJack Wills to expand further overseas
Preppy fashion retailer Jack Wills is to expand further internationally, with the US, Europe and the Far East in its sights.
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AnalysisChinese tourists
Chinese tourist spend has soared in the past year, but what can retailers do to capitalise on this and is the UK doing all it can to welcome them?
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News
Dixy Group revenue increases 19.4% to £1.4bn
Dixy Group posted a 19.4% increase in its 2010 revenues to RUB64.7bn (£1.4bn).Like-for-like sales grew by 2.8%, boosted by strong like-for-like growth in the Urals, which were up 5.5%.The grocer closed the year with 646 stores, including 623 Dixy supermarkets, 15 Megamart hypermarkets and eight Minimart stores, located in three ...
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H&M sales up 7% to £10.5bn last year
H&M has reported sales excluding VAT were up 7% in the fiscal year ended November 30, up to SEK108.5bn (£10.5bn). Profit after financial items soared 13% to SEK25bn (£2.4bn).For 2011, H&M plans to open about 250 stores, including some in five new markets. The retailer will continue investment in ...
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Impact Retail files for bankruptcy
Consumer electronics specialist Impact Retail has filed for bankruptcy. A note on its website states that an administrator will be appointed by a court, with the aim of examining possibilities for the future of the retailer.All 118 of the retailer’s stores have been “provisionally closed” while ecommerce activities have been ...
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RadioShack chief executive to retire in May
The chairman and chief executive of electronics retailer RadioShack, Julian Day, will retire in May after nearly five years.He will be succeeded as chief executive by current chief financial officer Jim Gooch, who was immediately promoted to president.Day led an overhaul of RadioShack operations that helped streamline the business while ...