All Europe articles – Page 44
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NewsScott Wheway appointed chief of Best Buy Europe
Best Buy Europe – the European joint venture between Carphone Warehouse and US electricals giant Best Buy – has appointed former Tesco and Boots executive Scott Wheway as chief executive.
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OpinionPrimark will storm Germany
A visit last week to Primark’s first store in Germany was instructive. Located in the northern city of Bremen in a brand new shopping centre, it was reasonable to expect that the value retailer would have pulled out all the stops to make its Teutonic debut, and it didn’t disappoint.
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Casino reports a 1.9 per cent fall in Q2 sales
Supermarket group Casino reported a 1.9 per cent fall in second-quarter sales, broadly in line with market expectations. Sales were weighed down by lower petrol prices and declines at its French hypermarkets.Second-quarter sales fell to €6.82bn (£5.87bn). The retailer said that underlying sales excluding petrol and calendar effects rose 1.1 ...
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Schlecker interested in buying Woolworths Germany stores
Chemist Schlecker is understood to be interested in buying some of the stores of insolvent retailer Woolworths Germany. The health and beauty giant would convert the shops to its Schlecker XL fascia.Other retailers interested in snapping up some of the 160 stores are thought to be discount grocers Lidl and ...
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Carrefour sales fall
Carrefour, the world’s second-biggest retailer, said second-quarter sales fell 1.2 percent, hurt by weaker western European markets, lower petrol prices and exchange rates.The drop to €23.4bn (£20.1bn) was slightly less than some analysts’ forecasts. Half-year sales were €46.2bn (£39.8bn). Carrefour group chief executive Lars Olofsson described half-year sales as “resilient”, ...
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AnalysisCan Kingfisher's Castorama triumph in Russia?
Russia may be hard to crack but Peter Høgsted vows Kingfisher’s Castorama chain can win DIY share there. Nicola Harrison reports from St Petersburg
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NewsNetto cuts prices to drive discount credentials
Danish discount grocer Netto is reducing the price of more than 100 staple products as it seeks to reinforce its low price proposition.
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Metro unveils turnaround programme
Metro has unveiled a turnaround programme for its flagging Cash & Carry wholesale business. The turnaround programme is based on three core targets of growth, restructuring and innovation.Metro Cash & Carry said the programme will improve its earnings development and open up additional sales potential. The grocer’s growth strategy includes ...
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NewsUS denim brand True Religion to open first UK stores
US designer denim brand True Religion is to kick off a European standalone store opening programme with a London opening planned for this year.
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X5 Retail Group reports strong first-half sales
X5 Retail Group has reported strong first-half sales, lifted by the performance of its price-led Pyaterochka shops.The grocery group’s consolidated net retail sales soared 46 per cent in local currency to RUR130.91bn (£2.48bn) or 6 per cent in dollars. Retail like-for-likes climbed 12 per cent year on year in local ...
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NewsJysk prepares for UK expansion after improving business model
Danish furniture retailer Jysk is poised to roll out more UK stores after resolving teething problems at its operations here and bolsters its management with a head of buying from Next.
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Staff recommend Aldi Sud increases branded products
Staff at discount grocer Aldi Sud have “strongly recommended” that the retailer should increase its range of branded products, according to German press reports.The discount grocer – split into two companies in Germany, Aldi Sud and Aldi Nord – is reported to have suffered a 5 per cent fall in ...
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Carrefour and El Corte Inglés ask staff to delay summer holidays
Carrefour and El Corte Inglés are asking their staff to delay their summer holidays in order to avoid hiring temporary staff over the busy summer months.French retail giant Carrefour wants staff to opt to take holiday in October and November, according to trade union sources.Spanish department store El Corte Inglés ...
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Promotion planned for Metro chief financial officer
Metro plans to promote its chief financial officer Thomas Unger to the role of deputy chief executive early next year, according to local reports.Unger will be tasked with overseeing Metro’s restructuring programme “Shape 2012”, which will result in 15,000 job losses and aims to increase profits by €1.5bn (£1.3bn).He will ...
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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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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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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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NewsThird profit warning puts Carrefour under spotlight
Carrefour, the world’s second biggest retailer, last week issued its third profit warning in just 12 months.
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Eurozone retail sales decline further than expected
Eurozone retail sales declined further than expected in May, dropping 0.4 per cent month-on-month, worse than the 0.1 per cent fall that was expected.In the 16-country currency area, the European Union statistics office said sales decreased 3.3 per cent year-on-year, compared with the 2.7 per cent fall anticipated.Sales of non-food ...
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Magnit plans secondary share offering in London and Moscow
Grocer Magnit is planning a secondary share offering this autumn in London and Moscow as it aims to raise more than $300m (£186m). Magnit wants to sell up to 10 per cent of its shares on the London Stock Exchange and Moscow’s MICEX and RTS.Morgan Stanley and Russia’s VTB Capital ...