All Europe articles – Page 45
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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 ...
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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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NewsCastorama holds firm as French DIY sector shrinks
Castorama holds firm as French DIY sector shrinks
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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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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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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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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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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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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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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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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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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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NewsTK Maxx and HomeSense in 500-store Euro assault
Discount fashion and homewares retailers TK Maxx and HomeSense are to embark on huge expansion drives in the UK and Europe.
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Future of Arcandor remains unclear
The future of Karstadt owner Arcandor remains unclear after rival group Metro proposed that it acquire and merge Karstadt’s stores with its own Kaufhof fascia.But Arcandor chief executive Karl-Gerhard Eick remains confident of a state-backed solution after lobbying for a €650m (£564m) loan. Arcandor argues that Metro’s idea could cost ...
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Promotions lift Laura Ashley sales
Sales at Laura Ashley jumped 8.4 per cent in the 17 weeks to May 30, due mainly to targeted promotions and store openings. Like-for-like sales rose 6.9 per cent.
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NewsTopps Tiles moots options to bolster sales
Topps Tiles is considering potential new revenue streams, including business to business, and mulling whether to pull out of Holland.
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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 ...
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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.