All International articles – Page 228
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NewsTopshop to expand in Japan with new flagship store
Fashion powerhouse Arcadia is to expand its Topshop chain in Japan with the opening of a flagship store in Tokyo next month.
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AnalysisDollar General streaks ahead with 9,000th store
US-based discounter Dollar General announced the opening of its 9,000th store at the end of July, pushing it further ahead of rivals as the owner of the largest number of stores in North America. Dollar General overtook 7-Eleven’s store tally in 2003 and has not looked back since.
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Colruyt Q1 revenues up 8.5%
Discount grocer Colruyt has posted an 8.5% rise in first-quarter revenue to €1.8bn (£1.5bn).The growth was attributed to an increase in customers and the positive influence of summer weather, supporting the sale of fresh and barbeque-related produce. The group’s retail trade division reported turnover up 7.1% to €1.4bn (£1.2bn).At the ...
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Metro reports H1 sales increase 2.4%
Metro’s first-half results showed that sales rose by 2.4% to €31.2bn (£25.9bn).In local currencies, sales climbed by 0.6%.EBIT before special items increased by 16.6% to €470m (£390m). Strong sales growth was again reported by electronics superstore chains Media Markt and Saturn, further extending their market leadership. Bestselling items were TVs ...
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Dairy Farm sales up 13%
Pan-Asian retailer Dairy Farm delivered a total sales rise of 13% to HK$4.3bn (£375m), for the six months ending June 30.Net profit was up by 17% to HK$181m (£16m).During the period Dairy Farm continued its expansion, adding 127 outlets to reach 5,198. Acquisitions agreed in Malaysia and Singapore will add ...
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Lotte Shopping profits increase by 15%
Lotte Shopping has reported strong results for the first half.Gross sales rose 14% to KRW6.6trn (£3.7bn), while operating profit rose 31% to KRW590bn (£329m). Net profit grew 15% to KRW452bn (£252m).
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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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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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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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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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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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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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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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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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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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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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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. ...