All International articles – Page 244
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OpinionFizz has gone out of UK retailers' duty-free offers in France
If things aren’t going well, should you give up or try and fix them? Look at the poll this week on the Retail Week home page and you’ll see the question “Is it worth UK retailers continuing to have duty-free operations in northern France?”Video:The Retail Week Booze CruiseAs is so ...
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Neiman Marcus considers selling lower-priced goods
US Luxury department store chain Neiman Marcus will consider selling some lower-priced goods after sales plunged 24 per cent year on year in its third quarter.Although Neiman Marcus will not abandon higher-priced products, it said it would merchandise goods with a greater range of price points.Chief executive Burt Tansky told ...
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Singapore retail sales in biggest slump for a decade
April sales suffered their biggest drop for a decade in Singapore as shoppers cut back on high-ticket purchases in the country’s deepest recession to date.The retail sales index fell 11.7 per cent in April against last year. Sales had fallen 7.3 per cent in March and 5.5 per cent in ...
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NewsArcandor teeters as talks to salvage business continue
The future of beleaguered German conglomerate Arcandor hangs in the balance after it began insolvency proceedings last week.
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Most retailers expanding abroad entering Mid East markets
Saudi Arabia attracted the most new retailers in the past year, with 37 opening their doors there, a CB Richard Ellis report found.The study showed that most retailers expanding abroad were entering Middle Eastern markets; Kuwait and the United Arab Emirates were also in the top five.Separately, AT Kearney’s annual ...
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Ikea abandons India investment plans
Ikea has abandoned $1bn (£611.2m) investment plans for India due to the red tape that still exists for foreign retail entrants.The furniture giant had been considering launching in India but wanted to do so with full ownership, which the law does not allow foreign retailers to do.After the election of ...
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US DIY spending ‘lowest in 60 years’
US DIY spending as a percentage of America’s GDP is at its lowest in 60 years, Home Depot boss Frank Blake said.However, the retailer expects a smaller fall in annual earnings than previously feared. Originally a decline of 7 per cent was forecast but it is now expected to be ...
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Court orders Amazon to pay Toys R Us £31m
Amazon has been ordered by an American court to pay $51m (£31.2m) to Toys R Us after the e-tail giant terminated an exclusive distribution deal in 2004.The partnership was due to last until 2010, with the toy retailer agreed as Amazon’s sole supplier of toys, games and baby goods.The fine ...
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NewsIndia offers greatest retail opportunities study shows
India offers the greatest investment opportunities for international retailers, a study has found.
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Visa charges to retailers ‘completely unfair’ claims Eurocommerce
EuroCommerce, an intervenor in the appeal loged by Mastercard with the European Court of Justice, has lodged a new complaint against Visa Europe claiming that its charges to retailers are an infringement of European competition law.
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NewsTesco builds Chinese mall
Tesco will open its first shopping centre in the northeastern Chinese city of Fushan later this year.
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OpinionAn ode to old-fashioned values
The UK has lost sight of the standards that underpin good service, says Lord Kirkham
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News
Media Markt plans more stores in Turkey
Media Markt, the consumer electronics group owned by German retailer Metro Group, plans to open a further seven stores in Turkey by the end of this year.The move is part of Media Markt’s strategy to become the leader in the Turkish market by 2010. The retailer has opened nine stores ...
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Rewe increases sales
Grocery group Rewe increased group-wide retail sales by 10.5 per cent to €49.8bn (£42.9bn) in 2008, it revealed this week, with EBITDA up 8.5 per cent to €1.34bn (£1.15bn).It recorded growth both in its German home market and abroad, but contributions from overseas operations were particularly strong. Sales increases were ...
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Tommy Hilfiger sales soar
Sales at fashion brand and retailer Tommy Hilfiger – headquartered in Amsterdam – soared 21 per cent to €1.6bn (£1.4bn) in the year to March 31. Retail sales jumped 29 per cent, while wholesaling sales rose 16 per cent.During the year a further 100 standalone stores opened globally, bringing its ...
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Vishal Retail opens hypermarket in Gondia
Indian retailer Vishal Retail has opened its first hypermarket in the country, in Gondia, western India.The large format store covers more than 10,765 sq ft, selling various brands. The retailer plans to open a second hypermarket in Jalandhar, Punjab this month.Separately, a fire broke out at Vishal Retail’s 300,000 sq ...
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Possible expansion into Russia for Wal-Mart
Wal-Mart International chief Doug McMillon has said the retailer is pursuing a variety of options to enter Russia.A delegation from Russia attended the retailer’s associates’ meeting last week and McMillon said Wal-Mart could proceed by acquisition or by opening its own stores, but no time frame has been set. “We ...
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Same-store sales in US decline
Same-store sales declined 4.6 per cent in the US in May, according to a report from Goldman Sachs and the International Council of Shopping Centers. The results were worse than a forecast 3 per cent drop.Among a slew of disappointing like-for-likes, department store group Nordstrom reported a fall of more ...
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Dm Drogerie Markt to double its Czech Republic stores
German pharmaceuticals chain Dm Drogerie Markt wants to double the 155 stores it has in the Czech Republic. The retailer’s founder and co-owner Götz Werner said he plans to open 20 stores this year. The Czech Republic arm is owned by Dm Austria, which oversees expansion outside Germany.The move follows ...
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Comercial Mexicana considers debt for equity swap
Mexican supermarket group Comercial Mexicana is considering a debt for equity swap as part of discussions with its creditors. In October the retailer defaulted on its debt after being hit hard in the global downturn.Comercial Mexicana has been attempting to strike a deal without selling key assets or giving up ...