All International articles – Page 227
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News
Soriana Q2 profits drop 19%
Soriana, the country’s second-largest grocer behind Walmart, reported a 19% drop in net profit in the second quarter to MXP716m (£38m).The slump was attributed to higher financial costs, despite an increase in sales of 6.5% to MXP22.8bn (£1.2bn). This improvement in sales was confined mostly to the central and southern ...
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News
Casino Q2 sales up 8.5%
Grocery giant Casino reported an 8.5% rise in consolidated net sales to €6.98bn (£5.8bn) for the second quarter.Sales in France rose 1.1%, or 0.2% on a like-for-like basis, while international sales jumped 23.6%, or 8.7% like-for-like. Brazil was one of the international highlights, registering a same-store sales increase of 11.3%.Group ...
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News
CVS Q2 revenues increase by 3.7%
Drugstore operator CVS reported revenues in the group’s retail pharmacy segment increased 3.7% in the second quarter to $14.3bn (£9.7bn), with total same-store sales increasing 2.1% over the prior year.Pharmacy same-store sales increased 2.9%, helped by continued growth of its Maintenance Choice prescription offer. Front store same-store sales increased 0.4%, ...
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News
Philippines 7-Eleven franchise to double stores
7-Eleven’s local franchise group in the Philippines, Philippine Seven Corp (PSC), expects to reach 1,000 stores in the next three years, doubling its current number.PSC president and chief executive Jose Victor P Paterno said the firm will open 100 new stores this year and a further 130 in 2011. Each ...
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News
Costco to expand into five Australian cities
US-based club-store operator Costco intends to expand into five Australian cities, but is having trouble finding sites large enough.Patrick Noone, Costco’s Australian country manager, said: “We are looking for sites in Melbourne, Sydney, Brisbane, Adelaide and Canberra.”Sales at Costco’s first outlet in Australia, opened nearly a year ago, have exceeded ...
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News
Loblaw Q2 sales up 1.2%
Grocery retailer Loblaw has reported that sales rose 1.2% to C$7.3bn (£4.57bn) for the second quarter to June 19. Like-for-like sales declined 0.3%, marking the third consecutive quarter of negative like-for-like growth. Operating income increased 1.9% to C$330m (£207m) while net earnings declined 8.6% to C$180m (£113m)…
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News
X5 seeks approval to acquire Kopeika
X5 Retail Group has applied to the Federal Anti-Monopoly Service to acquire Moscow-based retailer Kopeika and its subsidiaries, the authority has said. X5 Retail Group chief executive Lev Khasis said the application was “a technicality”, necessary for future merger negotiations. Kopeika, which is owned by Uralsib bank head Nikolai Tsvetkov, ...
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News
Rewe explores Bipa launch in Romania
Rewe Group is examining Romania and other central and eastern European markets for the potential launch of its Austrian Bipa drugstore concept. According to a company’s spokesperson, Rewe Group cannot unveil any detailed plans as “they do not yet exist”. Bipa is currently present in Austria, Italy and Croatia.
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AnalysisWalmart calls on India to relax retail investment
Walmart has called on the Indian government to relax Foreign Direct Investment laws that do not allow foreign investment in multi-brand retail, but do allow 51% foreign investment in single-brand retail and 100% in wholesaling. Walmart said it would open hundreds of stores in India if it were to change its laws.
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News
TJX to launch Marshalls in Canada
TJX Companies, the TK Maxx owner, is to launch its Marshalls chain in Canada next year with the opening of six stores by spring 2011. The company said that it is not ready to announce the locations of the stores, but the Greater Toronto area is believed to be a ...
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News
A&P Q1 net loss increases 88%
US Tengelmann-controlled A&P has announced its first-quarter results for the 16 weeks to June 19. Net loss was $122.64m (£79.5m), up 88% when compared with the net loss of $65.16m (£42.24m) a year earlier.Sales for the period declined to $2.56bn (£1.66bn) from $2.79bn (£1.80bn) last year. Like-for-like sales decreased 7.2%.
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News
Metro launches cash and carry concept in Ukraine
Metro Group has launched a new, small-sized cash and carry concept in Ukraine, called Metro Baza.The first store is located in Kremenchuk, on the rented premises of Prostor trade centre. Metro Baza has a sales area of about 21,500 sq ft and offers a narrow range of about 2,000 items. ...
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News
Wadhawanto shut Spinach stores
Wadhawan Retail is to shut its Spinach food and grocery stores. Most of the 45 Spinach stores are to close by the end of this month and many suppliers are said to have ended their relationship with the company due to outstanding bills. Spinach has 35 stores in Mumbai and ...
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News
Australian Woolworths full-year sales up 4.2%
For the year ending June 27, Woolworths reported sales up 4.2% to Aus$51.7bn (£30bn). Like-for-like sales from domestic grocery outlets gained 3.3%. Food and alcohol sales for the year showed strong growth to Aus$34.68 bn (£20bn), an increase of 5.1% from the previous year.In its fourth quarter, food and alcohol ...
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News
7-Eleven Australia set to acquire Exxon Mobil petrol stations
Seven & I-owned 7-Eleven in Australia has confirmed it has been given permission to acquire all 295 petrol stations belonging to Exxon Mobil in the country. The Australian Competition and Consumer Commission did not oppose the acquisition on the condition 7-Eleven divested three sites, one in New South Wales and ...
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OpinionIndian take-aways
The Prime Minister has taken a delegation out to India to show off our businesses and culture; but when it comes to retail and technology the ideas flow won’t be all one way.
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NewsDune to expand overseas with up to 150 stores
Footwear retailer Dune Group aims to generate 20% of its total sales from its overseas business over the next five years as it grows its international stores from 20 to between 120 to 150.
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NewsSuperGroup to expand in UK and abroad after good results
SuperGroup, the fashion retailer that owns the Superdry and Cult chains, is on the expansion trail following a strong set of annual results since becoming a quoted company.
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AnalysisHow UK retail is extending its franchise
Franchising helps overseas ventures, but how do you decide whether to run company-owned stores or take the franchise route?