All International articles – Page 222
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News
Yamada Denki to open small rural stores
Japanese electronics market leader Yamada Denki has announced plans to open smaller stores in thinly populated rural areas in a bid to speed up expansion away from competitive urban centres.The retailer intends to open 10 such stores by early next year. They will have a sales area of about half ...
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M.Video H1 sales up 7%
Consumer electronics chain M.Video’s retail sales increased almost 7% to RUB41bn (£866m) for the first half of 2010.M.Video’s net profit more than doubled to RUB518m (£10.9m).The increase in net profit is due to lower financing costs during 2010. President and chief executive Alexander Tynkovan said: “Customers are feeling more positive ...
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Penny to invest £12m in new Romanian stores
Germany-based Rewe Group’s discount division Penny is to invest €15m (£12m) opening 10 stores by the end of 2010.The retailer has opened nine stores so far in 2010, each covering between 10,765 sq ft and 14,000 sq ft. In total, Penny has 108 stores in Romania, six of which are ...
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Emperia Holding H1 revenues up 5.5%
Polish grocer Emperia Holding reported solid revenue growth of 5.5% to PLN2,832m (£600m) for the first half ended June 30.Net profit amounted to PLN32.4m (£6.9m), up 2.5%.The growth in revenue was driven by a strong performance at its retail stores, whereas revenues from its wholesale businesses grew only marginally. During ...
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US Borders Q2 like-for-likes down 6.8%
Bookseller Borders has reported results for its second quarter ended July 31, 2010. Second-quarter sales were $526.1m (£340.4m), down 11.5% compared with the same period a year ago, with like-for-like sales slumping 6.8%. Borders.com sales rocketed 56.2% year on year, up to $15.5m (£10m).The company generated a loss from continuing ...
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AnalysisNavigating the retail minefield
Halfords isn’t the first retailer to struggle to come to terms with a new warehouse, but supply chain is just one area where retailers come unstuck. Here, we highlight the most common problem areas
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AnalysisM&S to tap into Egyptian market with Cairo stores
Marks & Spencer has announced it is the latest international retailer to enter the Egyptian market. In the past decade, Egypt has experienced relatively strong economic growth and is a focus for global retailers interested in finding new markets.
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QVC to open New York pop-up store
TV shopping channel QVC is to open its first ever pop-up store in New York during fashion event Fashion’s Night Out. The store will open at 6pm on September 10 in the Rockefeller Center and will also broadcast live on TV on September 11 and 15.
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Meijer launches product locator app
Meijer has launched a product locator app called Find-it, built upon Point Inside’s mobile destination content platform. Shoppers will be able to see the location of more than 100,000 items in a Meijer store using their smartphones, eliminating the need to ask store employees where to find particular items. The ...
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Mercator sales up 3.2%
Mercator has reported sales of 1.33bn (£1.10bn), up 3.2% year-on-year.Its profit increased 57% to 18m (£14.7m). Mercator has invested about 45m (£37m) in the first half of the year, mainly in developing its retail network.
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Massmart like-for-likes up 2.6%
Retailer Massmart has published its full-year results to June 27. Group net sales amounted to R47.5bn (£4.2bn), representing growth of 10% year-on-year. Like-for-like sales increased by 2.6%.
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News
Shoprite full-year profits up 18.7%
Shoprite has revealed its full-year results to June, saying that group-wide sales increased 13.6% to R67.4bn (£5.9bn). Trading profit was also up 18.7% to R3.5bn (£308.2m).
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News
Magnit revenue up 31.84%
Food retailer Magnit has reported revenue grew 31.84% year-on-year to RUB103.66bn (£2.2bn). The growth was underlined by new store openings as well as like-for-like sales growth of 4.93%. Magnit’s hypermarkets outperformed supermarkets and neighbourhood stores, showing like-for-like sales growth of 14.16%.
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Matahari H1 sales reach £200m
Matahari has recorded total gross sales of IDR3.18trn (£200m) in its first-half, with operating income and net earnings reaching IDR391bn (£300,000).This solid sales performance is supported by 8.3% like-for-like sales growth from its department store business last year.
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News
Rewe sees potential for 150 Billa Box stores
Rewe Group chief executive Frank Hensel sees potential for up to 150 Billa Box convenience stores, Hensel has told Austrian daily Kurier. The first Billa Box pilot was launched last year in central Vienna, trading from 1,600 sq ft.
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Ahold Q2 net sales up 10.8%
Food retailer Ahold saw net sales in the second quarter of 2010 climb 10.8% to €7.1bn (£5.8bn) compared with the same quarter last year, up 4.4% at constant exchange rates.This was positively impacted by business acquisitions in the first quarter, mainly Ukrop’s in the US.
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Couche-Tard Q1 profits up 42.2%
Convenience store operator Couche-Tard reported a 42.2% profit rise for the first quarter ending July 18.The retailer also announced it is to acquire 10 stores from US-based retailer Compac Food Stores. The profit rise was attributed to higher merchandise and service sales, strong petrol margins and good cost control.
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NewsTesco joins auction for Carrefour’s Asian shops
Food and hypermarkets giant Tesco is among the 10 bidders for French counterpart Carrefour’s south-east Asian assets.
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AnalysisWalmart US backtracks as its sales figures disappoint
Walmart has reported net sales of $103bn (£66.3bn) in the second quarter, compared with $100bn (£64.37bn) in the same period last year.
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Suning to purchase 21m in shares in LaOX
Chinese consumer electronics retailer Suning is to purchase a further 21 million shares in Japanese retailer LaOX. After the purchase, Suning will hold 33.08% of LaOX shares. Suning will also nominate two new board directors, which needs to be approved later by the shareholders.