All Europe articles – Page 44
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News
Arcandor receives interest in its mail order division
Insolvent retail and tourism group Arcandor has received interest in its mail order division Quelle, according to its administrator.Joerg Nerlich, who is part of the insolvency administration for Arcandor, said that measures would be taken to restructure the unit, including potential job cuts.Quelle secured a E50m (£43.1m) rescue aid loan ...
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Escada to consider state aid request to secure growth
Luxury fashion house Escada will consider requesting state aid to secure its long-term growth if it is successful in securing refinancing to avoid insolvency.The beleaguered group, a favourite of celebrities such as Demi Moore and Katie Holmes, is asking investors to forego more than half of their investments in a ...
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Celesio’s acquisition of a majority stake in Pharmexx has been approved
The European Commission’s antitrust panel has approved German pharmacy giant Celesio’s acquisition of a majority stake in Pharmexx.Celesio revealed in March its intentions to increase its shareholding in the company from 30 per cent to 65 per cent. Pharmexx provides marketing and sales solutions to pharmaceutical and biotech companies.The deal ...
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Pre-tax profits rise at H&M
Pre-tax profits at H&M rose 6 per cent to Skr5.78bn (£452.9m) in the second quarter to the end of May. Sales excluding VAT soared 23 per cent to Skr26.5bn (£2.1bn), an 8 per cent increase in local currencies and a decline of 2 per cent on a like-for-like basis.Gross margins ...
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GalleryStore of the week: Esprit, Stockholm
Trying to get shoppers into your store when you’re positioned on the third floor of a glass and steel tower block is probably a matter of having a very substantial shout. In the pedestrianised Drottninggattan area of Stockholm, fashion retailer Esprit has overcome this by making a feature of the ...
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News
Colruyt’s pre-tax profits rise
Discount grocer Colruyt’s pre-tax profits rose 8 per cent to €549m (£467m) in the year to March 31, missing forecasts of €559m (£475m). Total sales increased 11.2 per cent to E6.3bn (£5.35bn), in line with forecasts.The retailer said: “Despite the economic crisis the Colruyt Group continues to invest in future ...
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NewsCastorama holds firm as French DIY sector shrinks
Castorama holds firm as French DIY sector shrinks
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NewsItaly’s Jfour jean brand kicks off UK offensive
Italian designer jeans brand Jfour is to open its first UK standalone shop tomorrow and is gearing up for a rapid expansion in this country.
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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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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
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
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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NewsScandinavia next in M and M Euro drive
Discount e-tailer M and M Direct intends to open up its new euro currency website to countries in Scandinavia as it takes advantage of the weak pound.
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News
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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NewsSpar pushes new format for the UK as sales surge
Symbol group Spar opened its flagship Eurospar store in Broomhill, Sheffield, today as the company revealed gross sales in the year to April 30 jumped 11.6 per cent.
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News
Fnac to launch second-hand selling section on website
Electricals giant Fnac is to sell second-hand products from a new section of its website. According to reports, the retailer expects the new channel to account for 15 per cent of all online sales within the next 18 months.Fnac, which is owned by PPR, will offer up to 2 million ...
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Luxury retailers struggle as sector’s immunity fails
The usually polished and aloof world of luxury retail has become an unusually tense and anxious place as some of its biggest names battle for survival.
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NewsGuess to fill Regent Street store as Next makes exit
Next is pulling out of Regent Street and will be replaced by US denim brand Guess, which is to open a European flagship store on the site.
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NewsNew UK managing director for Inditex as Stefano Sutter moves to Europe
Zara owner Inditex has appointed a new UK and Ireland managing director to replace Stefano Sutter, who has been moved from his role to run other European markets for the Spanish fashion giant.
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Praktiker chief exec expects German economy to pick up soon
Wolfgang Werner, chief executive of DIY chain Praktiker, has called the bottom of the market in Germany and said he expects the economy there to be picking up soon. Werner said sales had “distinctly stabilised” over April and May, meaning it has “largely” compensated for the sales decline in the ...