All International articles – Page 229
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News
FamilyMart to acquire Am/pm Japan
Convenience retailer FamilyMart is to acquire Am/pm Japan for ¥12bn (£80.1m) from parent company Rex Holdings.FamilyMart, Japan’s third largest convenience chain, plans to absorb Am/pm next year and will rebrand the stores over the next two years.The chain will be acquired in partnership with its main shareholder Itochu. The merged ...
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Sales at Shoppers Drug Mart increase 7.9%
Sales at pharmacy chain Shoppers Drug Mart increased 7.9% to C$3bn (£1.7bn) in the third quarter, with the retailer continuing to experience strong sales growth in all regions of Canada.Excluding tobacco products, same-store sales climbed 4.8%. Prescription sales rose 9.7% to C$1.5bn (£856.4m) during the quarter, accounting for 49.1% of ...
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Abercrombie & Fitch reports net income drop of 39%
Young-fashion chain Abercrombie & Fitch reported net income dropped 39% to $38.8m (£23.8m) in its third quarter.Net sales declined 15% to $765.4m (£468.9m) while comparable store sales were down 22%.At a divisional level, comparable store sales fell 18% at Abercrombie & Fitch, 22% at Abercrombie Kids, 26% at Hollister and ...
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Celesio reports a 2.9% fall in sales
Healthcare and pharmaceutical company Celesio has reported a 2.9% fall in sales to E2.54bn (£2.26bn) at its Patient and Consumer Solutions division for the first nine months of this year.Growth in local currencies was 6.1%. The division’s EBITDA declined by 3.3% to E218.6m (£194.8m). In local currency terms, this corresponded ...
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NewsDollar General makes NYSE debut
US discount retailer Dollar General is today making its debut on the New York Stock Exchange in what is one of the most anticipated IPOs of the year.
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NewsTesco joint venture to build malls in China
Tesco is to build three shopping malls in China after forming a property joint venture with local partners.
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October like-for-like sales paint negative picture in US
The round of October like-for-like sales showed a generally negative picture as consumer confidence continues to struggle in the US. Of the few positive results, most came from retailers operating at the top and bottom of the market. Upmarket department store chain Nordstrom, for example, reported a 6% lift in ...
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Lidl teams up with Nabtaaler Milchwerke to launch private-label lines
Discounter Lidl has teamed up with Bavarian dairy company Nabtaaler Milchwerke to launch Lidl’s first regional private-label lines. Lidl has been selling Bavarian long-life milk for some time in some regional divisions to support dairy farmers in the federal state. The discounter registered the trademark “Ein gutes Stück Heimat” - ...
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Otto plans to expand its Russian operation
Mail order giant Otto intends to expand its Russian operation after acquiring the Russian subsidiary of bankrupt rival Arcandor’s Quelle division. Otto, which already considers itself market leader in Russia, is acquiring the rights to the Quelle brand, as well as some sub-brands and its internet domains in Germany and ...
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AnalysisUS’s toy wars could mean victory only for consumers
With Christmas fast approaching, US discount giant Target this week introduced price cuts on toys at its stores.
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Sales at electronics retailer Yamada Denki climb
For the six months to September 30, sales at consumer electronics retailer Yamada Denki climbed 1.9% to JPY936.6bn (£6.3 bn). Operating profit fell 15.4% to JPY25.1 billion (£168 million). Net profit was down 20.2% to JPY16.4 billion (£110 million).
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Carrefour's Guy Yraeta is to leave the business
Carrefour’s Guy Yraeta, who is in charge of the group’s key European operations, excluding France, is to leave the business.Yraeta spent 33 years at Carrefour and is responsible for the hypermarket reinvention project, which is in the process of developing a new concept for Carrefour’s struggling hypermarket format. Until a ...
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NewsNordstrom woos UK shoppers with web access
US luxury department store operator Nordstrom has opened up its website to UK shoppers.
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AnalysisTraining that’s above and beyond
Is it necessary for overseas retailers to train their staff back home, asks Sara McCorquodale.
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Walmart plans to open a further 40 stores in India
Walmart plans to open a further 40 stores in India, according to Indian commerce and industry minister Anand Sharma. “Walmart is very satisfied with its results in India. I was informed by the Walmart CEO that they are looking at opening more stores. He gave me a figure of 40 ...
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Caremark has lost out on £2.9bn in contract renewals
CVS’s pharmacy benefit management arm Caremark has lost out on about $4.8bn (£2.9bn) in contract renewals this year.The retailer warned investors to expect margins to fall by about 10% next financial year as a result. CVS reported a 17.9% year-on-year rise in revenues to $13.6bn (£8.3bn) at its retail pharmacy ...
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ICA posted third quarter net sales of £2bn
Ahold’s Scandinavia and Baltics arm ICA posted third quarter net sales of Skr23.5bn (£2bn) - a 3% increase compared with the same period last year. At constant exchange rates, net sales climbed 1.3% at the grocer. Operating income rocketed 37% to Skr936m (£82m).ICA managed to significantly reduce its losses in ...
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Whole Foods Market reports 2.3% sales increase
Organic retailer Whole Foods Market reported a 2.3% sales increase to $1.8bn (£1.1 bn) for the fourth quarter to September 27.Comparable store sales decreased 0.9% versus a 0.4% increase the previous year. Adjusted EBITDA soared 46% to $133.5m (£81.8 m). Chief executive John Mackey said: “We believe our sales have ...
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Delhaize Group posted 1.9% revenue growth
Delhaize Group posted 1.9% revenue growth at identical exchange rates for the third quarter. At actual exchange rates the supermarket operator increased revenues by 4.8% to €4.9bn (£4.4bn) due to the strengthening of the US dollar by 5.2% against the euro compared with last year. Operating profit rose 5.7% to ...
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NewsM&S considers taking Simply Food into Western Europe
Marks & Spencer has enlisted advisors to scout locations in Western Europe for Simply Food stores, it is understood.