All International articles – Page 243
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News
Retail sales drop in Japan again
The country’s retail sales dropped 2.8 per cent in May – the ninth consecutive monthly slip. Analysts had forecast a 2.6 per cent decline. Falling wages and rising unemployment have resulted in consumers tightening their purse strings. The jobless rate rose to 5 per cent in April – the highest ...
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X5 Retail to slash prices after Vladimir Putin visit
X5 Retail is slashing prices after Prime Minister Vladimir Putin scolded its bosses on a visit to one of its Perekryostok supermarkets.Putin said the retailer, which is Russia’s biggest grocer, was charging too much for sausages and meat in front of astounded shoppers. X5 has since announced a “grand Sale”, ...
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NewsCrabtree & Evelyn files for bankruptcy protection in the US
The US arm of Crabtree & Evelyn has filed for Chapter 11 bankruptcy protection.
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NewsKmart cuts prices for the unemployed
US retailer Kmart has launched a money-off programme for the jobless in its original home state of Michigan.
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NewsEuropean Union approves state loan for Arcandor
The European Union has given approval for the German state to loan insolvent retailer Arcandor €50m (£43m).
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NewsTesco refutes global trade union claims
Tesco has refuted claims from an international trade union which criticised the grocer’s employment practices in some of its overseas markets.
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NewsMamas & Papas unveils Japanese expansion deal
Maternity specialist Mamas & Papas is to launch in Japan after striking a distribution deal with local nursery goods group Pigeon Corporation.
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Shares at Gome rally
Shares at electricals retailer Gome have rallied after a seven-month suspension in trading when it revealed that US private equity firm Bain Capital will invest up to US$418m (£254.5m) in it.The deal gives Bain up to 23 per cent of shares, making it the second-largest shareholder, and will lend beleaguered ...
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News
Tesco committed to expansion in Thailand
Tesco remains committed to expansion in Thailand despite no clear sign of an economic recovery.The grocer – which trades under the Tesco Lotus banner in Thailand – plans to open five or six hypermarkets and 40 Express outlets in the present financial year.Tesco Lotus chief executive Steve Hammett said ...
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News
Pick n Pay expects sales to climb
Food retailer Pick n Pay has given an optimistic outlook for this year and said it expects sales to climb by up to 6 per cent year on year. This is despite retail sales across the country falling by 6.7 per cent year on year in April.Gareth Ackerman, chairman of ...
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News
Japanese grocer to launch own-label range at its discount chain
Seven & I-owned grocer Ito-Yokado is to launch an own-label range at its discount chain, The Price.The discounts in the range have been achieved through the use of irregularly shaped produce and simplified packaging. Prices will be around 30 to 50 per cent lower than branded products. The range includes ...
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News
Carrefour chief exec reportedly plots cost cutting drive
Carrefour chief executive Lars Olofsson is plotting a major cost-cutting drive to save it €2bn (£1.7bn) by 2012, according to French press reports.The grocery giant will update its 500 key executives this week on the plan to make it a more “agile” business, able to grow more rapidly and gain ...
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NewsTesco brings touch of Britain to Fresh & Easy
Tesco has introduced some classic British favourites such as Marmite and Heinz baked beans at selected Fresh & Easy stores in the US.
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GalleryRecession hangover hits booze cruise retailers
Calais is the home of the booze cruiser, but a falling pound, shrinking shopper budgets and fewer day trippers have made it challenging for UK retailers and others. John Ryan reports.
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News
Barnes & Noble scales back its expansion plans
Bookseller Barnes & Noble has scaled back its expansion plans in the recession. America’s largest book chain by sales had planned to open 35 superstores this year, but now has only 15 in the pipeline. Most of these are replacing existing branches that have closed or are being relocated.Barnes & ...
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Retailers scale back expansion plans in China
Retailers are scaling back or delaying expansion plans in China as investors express concern about over-expansion and demand falls among Chinese shoppers.Grocer China Resources is to cut back its openings to 200 rather than 300, and fashion retailer Giordano International has shut 14 stores in China in the first quarter ...
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Former Arcandor chief executive denies part in the group's downfall
Former Arcandor chief executive Thomas Middelhoff has denied he played a part in the downfall of the retail and tourism group.Arcandor was forced into insolvency earlier this month after the state refused to grant it aid on the grounds that its problems pre-dated the recession.“I am convinced that we have ...
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News
Petsmart appoints its president to chief executive role
Pets products retailer Petsmart has appointed its president and chief operating officer Bob Moran to the role of chief executive.Moran replaces Phil Francis, who will remain chairman and relinquish day-to-day control of the retailer. Francis will take on the more advisory role of executive chairman.Petsmart, which operates around 1,100 stores ...
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Schwarz Group fastest riser according to Planet Retail
Discount grocers are continuing their march on the competition, with Lidl owner Schwarz Group being the fastest riser in Planet Retail’s Top 20 Grocery Retailers 2008.Schwarz jumped from ninth to fifth place last year as the global downturn continues to accelerate growth for discount chains.The research also revealed that the ...
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NewsAbercrombie & Fitch axes Ruehl as it sticks to younger market
The polished and sexy world of Abercrombie & Fitch hit a rather unsightly bump in its growth plans last week as it announced it was closing its high-end Ruehl brand.