All International articles – Page 246
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News
Woolworths expects profit rise
Food and general merchandise retailer Woolworths expects a 20 per cent rise in full-year profits on the back of the sale of its stake in Woolworths Financials Services.The said its profit growth was aided by the R380m (£28.9m) it made from the sale of its stake. Woolworths is bucking the ...
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News
Dixy Group reveals net losses
Discount food retailer Dixy Group revealed that net losses last year were RUB324m (£6.6m) compared with a RUB429m (£8.7m) profit in 2007.The losses were mainly due to foreign exchange losses following the rouble’s decline against the dollar-denominated debt in its credit portfolio, amounting to RUB1.07bn (£21.7m).It was also hit by ...
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News
Sales declines hit Gap profits
Sales declines across all four of Gap’s divisions have led to a 14 per cent slump in first-quarter profits at the clothing giant.In the quarter to May 2 earnings were 15m (£135.5m), down from 49m (£156.9m) the year before. First-quarter net sales were $3.13bn (£1.97bn) compared with $3.38bn (£2.13bn) the ...
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News
Coles hires UK retail veteran Tony Buffin
Grocer Coles has hired another UK retail veteran, appointing former Boots group financial controller Tony Buffin as its finance director.Buffin was most recently European managing director of Groupe Aeroplan, an international loyalty management company. Previously, he headed Boots’ international healthcare strategy team.Buffin, who takes up his role in July, is ...
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News
Arcandor says Metro merger is no alternative to Government aid
Retail group Arcandor said that talks with Metro over a possible merger of the Karstadt and Kaufhof department store chains is no alternative to government aid. Arcandor spokesman Gerd Koslowski said: “Metro would have to bring the money we need for survival and it really doesn’t look like that at ...
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NewsScott Wheway to use Tesco and Boots experience after Best Buy move
US electricals retailer Best Buy will adopt the best practices of retail giants Tesco and Boots when it debuts in the UK next year.
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News
Lawson shelves plan to acquire rival
The country’s second largest convenience store chain Lawson has shelved plans to acquire rival am/pm. Lawson said it could not reach an agreement with the US-based competitor.The proposed acquisition would have cost the 9,500-store retailer ¥14.5bn (£97m). As part of the deal, am/pm wanted the majority of its 1,100 stores ...
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Analysis
The foreign office: why retailers should support staff working abroad
Business trips abroad, often to emerging markets, can be daunting and stressful for staff who do not have the right support. Joanna Perry explains why retailers must consider their duty of care
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NewsClarks to build £20m international web arm
Footwear giant Clarks expects its online operation to become a £20m business in the next year, as it gears up to take the website international.
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NewsChapter 11 provisions take shine off Ahold’s US performance
International grocery group Ahold has reported that its US chains Stop & Shop and Giant-Landover delivered their best like-for-like performance “in many years” during the first quarter.
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NewsPuma to axe all but one UK store as it cuts costs after punishing Q1
German sportswear retailer Puma is exiting all but one of its UK stores as part of a major international disposal programme.
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News
Miss Selfridge expands Gulf presence in Kuwait
Miss Selfridge is to ramp up its presence in the Middle East as it opens its first store in Kuwait.
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AnalysisTesco in Ireland: its toughest market
Faced with a tough economy, strong rivals and sales leaking north of the border, Tesco Ireland has struggled to assert its value stance. So will its counterattack work? Joanna Perry investigates
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OpinionShould UK retailers stay home?
DSGi’s offloading of its Hungarian Electro World business for the princely sum of €1 makes business sense, even if it is another setback to the retailer’s international ambitions.
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News
Hefty restructuring and poor trading hits Kesa
International electricals group Kesa will book restructuring charges of £9m and e10m (£8.8m) respectively at UK arm Comet and Spanish division Menaje Del Hogar.
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News
Metro seeks government intervention for rival's state support request
Metro has called on the German government to reject a request by its rival Arcandor for state support as it seeks to acquire the latter’s department store chain, Karstadt.Metro chief executive Eckhard Cordes wrote to the government outlining a “commercial solution” that would not need state intervention. Cordes has denied ...
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AnalysisAt Mahon Point in Ireland retailers are fighting the recession
Times may be tough but Cork’s Mahon Point scheme isn’t taking the recession lying down. John Ryan goes to see how it’s wooing shoppers
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News
DSGi cuts loose Hungary operation
DSGi has sold its nine Electro World stores in Hungary for e1. All operations and staff will transfer to new owner EW Electro Retail, which is backed by a consortium of investors.
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News
EBay clinches legal victory over L'Oréal
EBay has claimed victory in a Paris court case brought against it by cosmetics giant L’Oréal over counterfeit perfumes on eBay’s website. The court ruled in favour of the internet auction site and said that it was not liable for the fake products and had met its obligations to combat ...
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NewsIkea exercises caution as furniture market toughens
Ikea group president and chief executive Anders Dahlvig has offered some words of warning for retailers in the Western world.