All Grocery articles – Page 596
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News
Shoprite confirms plan to exit India
Shoprite group chief executive Whitey Basson has confirmed that the retailer is preparing to exit India.Speaking at the South African-based retail group’s interim results, Basson said the decision was due to constraining legislation and price rules that made a single-store operation unprofitable.The retailer has been operating a hypermarket in Mumbai ...
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News
Marinopoulos to face Competition Committee probe
Carrefour’s greek arm Marinopoulos will face the Competition Committee at the end of April, according to reports in the local press.Carrefour Marinopoulos faces charges that it violated competition regulation in respect of its franchising model and the operations of its 5’ Marinopoulos grocery stores network. The retailer is reportedly accused ...
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Tesco muscles in on the growing bicycle market
Tesco has quietly opened “bike shops” in eight of its stores, muscling in on specialists such as Halfords and Evans.
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NewsSainsbury’s considers sale and leasebacks to back expansion
Grocer mulls funding options to support aggressive growth plans in non-food and convenience
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NewsGrocers pledge jobs and training to address youth unemployment
Grocers Tesco, Sainsbury’s and Asda have vowed to create more jobs, invest in more training and called on the Government to improve education.
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News
Casino posts £23.8bn net sales
Casino reported €26.75bn (£23.8bn) net sales for 2009 - a 1.2% decrease against the previous year. Trading profit slid to 4.5% to €1.21bn (£1.1bn) on the previous year. In France, sales declined by 3.8% on an organic basis, or 2.7% excluding petrol. Meanwhile, Casino’s online general merchandise business Cdiscount reported ...
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AnalysisRetailers must make their own luck in 2010
There won’t be a double-dip recession, Retail Week Conference delegates heard, but this year will be bumpy.
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NewsJohn Lewis Partnership pre-tax profits up 9.7%
John Lewis Partnership has reported pre-tax and bonus profits up 9.7% to £306.6m and staff shared a £151.3m bonus pot, 15% of salary.
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NewsMorrisons profits up 30%
Morrisons has reported pre-tax profits have hiked 30% to £858m, up from £655m, in its full year results ending January 31.
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NewsSainsbury's and Asda set up youth training schemes
Sainsbury’s and Asda are setting up training schemes to push food as a career choice to young people.
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NewsRetail sales ahead 2.2% in February
UK retail sales grew 2.2% on a like-for-like basis in February, according to the British Retail Consortium (BRC).
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NewsGovernment mulls imposing VAT on food
Government could begin charging VAT on food as a means of reducing the national defecit.
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AnalysisMark Price: Leader of the pack
Named Retail Leader of the Year at last night’s Oracle Retail Week Awards, Mark Price has transformed Waitrose.
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Interest in Tesco shares strong
US investor Warren Buffett raised his stake in Tesco to 3% this week, prompting a 3.2% rise in the grocer’s share price to 433p on Monday.
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News
Harvey Norman profits up
Non-food retailer Harvey Norman reported that net profit in the six months to December 31 rose to Aus$158.9m (£95.4m) from Aus$99.3m (£59.6m) the year before.Profit from continuing operations soared 47% to Aus$237.8m (£142.7m). Consumer electronics performed strongly, despite the unwinding of one-off government stimulus cheques paid to consumers at the ...
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NewsTesco and M&S warn on need for transparent sourcing in fashion
Tesco clothing chief Terry Green has warned that fashion retailers must make the provenance of their product transparent because offering value is not enough for today’s customers.
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News
Hotel Chocolat outlines growth plan
Hotel Chocolat is to open between 10 and 15 stores this year, after reporting a strong start to the year with like-for-like sales up 14% in January.
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NewsGeorge at Asda to push multichannel and overseas growth under new boss
George at Asda is expected to concentrate on value, multichannel operations and international growth when its new managing director Andrew Moore takes the helm next month.
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OpinionDreaded needs test rears its head again
Yes, it’s election season and the Tories are going for the populist planning vote with their new Open Source Planning green paper.
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News
Soriana sales down 5.5%
Mexican grocery retailer Soriana posted a like-for-like sales decline of 5.5% in its 2009 financial year.Net consolidated profit soared 66.4% to MXN2.9bn (£152.4m) against 2008, while net sales fell 4% to MXN91.8bn (£4.8bn). During the period, the retailer managed to make savings of MXN1bn (£52.6m) through its efficiency plan.By the ...