All International articles – Page 218
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News
Foot Locker Q1 sales up 5.3%
Foot Locker’s first-quarter sales increased 5.3% to $1.28bn (£900m) compared with the same period last year.Like-for-like sales increased 4.8%. Total sales for the first quarter increased 3%, excluding the effect of foreign currency fluctuations. Net income was $54m (£36m), compared with $31m (£20m) last year.
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Reliance Retail in push for value formats
Reliance Retail is implementing a five-year plan to grow its value formats, including Reliance Fresh, Reliance Super and Reliance Mart.Through the programme, the company is adopting the tagline ‘Aapki Khushi Hamari Khushi’ (your happiness is our happiness) and said it will strengthen the presence of multi-formats and other retail channels, ...
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Woolworths aquires hardware businesses
Woolworths has acquired Gunns Retail Division in Tasmania and, in a separate arrangement, the Becks Timber & Hardware business.The Gunns acquisition includes five hardware stores in Tasmania, one timber joinery centre, one truss manufacturing plant and a support office.The move is part of the joint venture between Woolworths and US ...
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KiK aims for 5,000 stores
Tengelmann-owned clothing discounter KiK is planning to increase its number of stores across Europe from more than 2,900, to about 5,000 within the next five years. This will involve growth in the existing markets such as Germany, Austria, the Czech Republic, Slovakia and Hungary, as well as new market entries. ...
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No rush to sell PPR retail operations
According to chief executive François-Henri Pinault, PPR isn’t in a hurry to sell off its retail operations — entertainment and electronics retailer Fnac, household goods retailer Conforama and mail order specialist Redcats.He said: “I will take the time that is necessary to sell off our operations at good conditions.” When ...
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Gap posts £2.2bn Q1 sales
Gap has posted net sales of $3.33bn (£2.2bn) in its first quarter, a rise of 6% on the same period last year. Like-for-like sales increased 4% and net income rocketed 40% to $302m (£200m).Chairman and chief executive Glenn Murphy said: “Fuelled by our strengthened economic model, we are in a ...
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Eroski sales down 6%
Spanish grocer Eroski reported a 6% decrease in gross sales during 2009 to €8.43bn (£7.6bn) as the retailer’s price cuts amid weak consumer confidence weighed on sales.The retailer also reported a net loss of €69m (£62m), a drop of 29% on last year, as Eroski’s results continued to be hit ...
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NewsTopshop eyes Chicago launch as Knightsbridge store opens
Arcadia sets sights on further US Topshop flagships following opening of its latest London store
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AnalysisFood specialists in Canada and US in discount move
For years, discount in North America was dominated by dollar stores and big-box merchants such as Walmart. The European hard discount model did not translate stateside, due to a lack of affinity for private labels and the social stigma of ‘value shopping’.But things are changing. The recession is over, but ...
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NewsTesco stores escape worst of Thai unrest
Tesco’s stores in Thailand are thought to have escaped the worst of the violence that has engulfed the capital, Bangkok, over the last few days.
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Department store Isetan Mitsukoshi posts £435m loss
Department store Isetan Mitsukoshi posted a consolidated net loss of ¥63.52bn (£435m) in the year ended March 31, which the retailer blamed on sluggish consumption and severe competition. The loss compares with a group net profit of ¥4.68bn (£25m) in the previous year. Sales were down 9.5% to ¥1.29 trillion ...
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News
1,000 Uniqlo stores to open in China
Fast Retailing has announced plans to open 1,000 Uniqlo stores in China within 10 years, generating ¥1 trillion (£7.47bn) in sales.Uniqlo will open a 38,000 sq ft flagship store in Shanghai this weekend, giving it a total of 65 stores in China. Beginning in the fiscal year 2012, Uniqlo will ...
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News
H&M ito open its first store in the southern hemisphere
H&M is looking at opening its first store in the southern hemisphere. Chief executive Karl-Johan Persson said Brazil and Argentina were “very interesting”, but H&M is also looking at Australia. At present none of the retailer’s 2,000 stores are located south of the equator.Persson confirmed that the retailer has the ...
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News
Whole Foods Market sales increase of 13.1% in Q2
Whole Foods Market reported that sales rose 13.1% during its second quarter to reach $2.1bn (£1.4bn). Like-for-like sales rose 8.7%, while identical store sales, excluding four relocations, increased 7.7%. EBITDA rose 40% to $182.3m (£126.3m), while net income increased 91.3% to $67.4m (£46.7m).The retailer also announced that John Mackey will ...
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News
Macy's like-for-likes up 5.5%
Macy’s has reported $5.57bn (£3.85bn) sales in the first quarter, an increase of 7.2% compared with the same period last year. Sales were up 5.5% on a like-for-like basis.Online sales (Macys.com and Bloomingdales.com combined) were up 34% in the period.Net income was $23m (£15.9m), compared to an $88m (£60.9m) loss ...
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Nordstrom like-for-likes up 12% in Q1
Nordstrom has reported that net income rose 43.8% to $116m (£80.5m) for the first quarter ended May 1. Total sales rose 16.7% to $1.99bn (£1.38bn) while like-for-likes were up 12%. Multichannel like-for-likes increased 13.7% while full-line like-for-likes rose 11.7% and direct sales were up 38.7%. Nordstrom Rack like-for-likes rose 1.9%.Nordstrom ...
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Walmart to accelerate its roll-out in India
Walmart plans to accelerate its roll-out of wholesale stores in India. Walmart India chief Raj Jain said the retailer plans to open 10 to 12 wholesale centres in India over the next two to three years, bringing forward an earlier target of five years.The move comes as real estate prices ...
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Carrefour to enter India
Carrefour has announced plans to enter India in July with its first cash-and-carry outlet in New Delhi. The retailer will then open three or four more wholesale outlets around the country by the year’s end.The retailer has sourced properties in New Delhi, Bangalore, Chennai and Hyderabad and will soon sign ...
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Tesco appoints chief executive officer of its Malaysian operations
Tesco has appointed Tjeerd Jegen as chief executive officer of its Malaysian operations. He replaces Chris Bush, who has taken over as chief executive of Tesco Thailand.Jegen will be responsible for all areas of the Tesco Malaysia business, from operations to marketing, finance and corporate affairs, across the division’s 33 ...
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Debenhams to open its first department store in South Korea
Debenhams is expected to open its first department store in South Korea at the end of this year. South Korean retailer Deben said it signed an exclusive deal with Debenhams in October last year to open and operate branches of the department store in the country.