All International articles – Page 238
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News
7-Eleven aims for 20,000 environmentally friendly stores
Seven & I-owned 7-Eleven plans to have 20,000 environmentally friendly stores across the globe within five years, accounting for about 40% of its operations. The convenience stores will use LED technology for signs and lighting, generate electricity from solar power, feature hot water systems that use waste heat from air ...
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Gome sales fall
Electronics retailer Gome has benefited from its recent store closure strategy.While sales for the year to December 31 fell 7% to Yn42.7bn (£4bn) - the result of closing down 189 underperforming stores - net profit jumped 34.4%.Gome revealed that the government’s stimulus policies helped to lift sales and operating ...
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News
Technosila could fall to bank control
Electronics retailer Technosila could end up in the hands of MDM Bank as the retailer is not able to pay off its debts.The bank is also expected to receive controlling stakes in Business PRO, Technosila’s main wholesaler, and Multibank, which provided express loans in Technosila stores. MDM Bank has been ...
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News
H&M sales jump 7%
Clothing retailer H&M has reported results for the first quarter to February 28, with sales jumping 7% to Skr24.85bn (£2.1 bn), compared with the same period last year. In local currencies, the increase was 13%.H&M had 1,992 stores at the end of February, up from 1,748 a year ago. ...
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News
Komplett sells Dutch, Belgian and Irish operations
Norway’s online and mail order electronics retailer Komplett has completed the sale of its operations in the Netherlands, Belgium and Ireland to Dutch sector player ParaDigit Holding BV.The takeover also includes a licence agreement that allows ParaDigit to use the Komplett name for its online operations. The Norwegian retailer has ...
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News
Otto sales up 1.5%
Retail and services company Otto Group posted sales up 1.5% to €10.14bn (£9.3bn) on a comparable basis in the year to February 28, 2010.The German group’s operating profit is expected to be “well above the previous year”, the group said. A key growth driver was its ecommerce business, which ...
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News
Rite Aid revenues slide 2.4%
Pharmacy retail giant Rite Aid has posted a year-on-year revenue decline of 2.4% to $25.7bn (£14 bn) for 2009, primarily as a result of 121 net store closures and a decline in same store sales of 0.9%.Same store retail sales slid 2.9%, while pharmacy sales rose 0.1%. The number of ...
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News
AS Watson total revenues down 2%
Total revenues at Hutchison Whampoa’s AS Watson retail division shrank 2% to HK$116.09bn (£9.81bn) for the 2009 full year, but climbed 5% on a constant currency basis.However, EBIT soared 30% to HK$5.69bn (£480.7m) due to continued improvement in costs, operational efficiency and cautious expansion. AS Watson plans to double its ...
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News
Migros net sales down 3%
Swiss market leader Migros reported group net sales declined 3% to CHF24.95bn (£14.7bn) for 2009.The group blamed lower prices of Migros’ products, a dramatic drop in crude oil prices and a decline in business travel for the drop. However, net profit soared 20.8% to CHF846m (£500m). And the group’s other ...
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News
Rewe plans £360m investment in Austria
Rewe Group’s international arm plans to invest €400m (£360m) this year in Austria, where the division is based, and abroad.The figure is 20% less than last year, when Rewe International invested €500m (£446m), out of which €200m (£178m) was ploughed into Austria.Frank Hensel, the international arm’s chief executive, told financial ...
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Carrefour to invest up to £40m in Argentina
Carrefour will invest as much as ARS250m (£40m) in its stores network in Argentina this year as supermarket sales recover.The retailer, which operates under banners including Dia in the country, invested ARS1.25bn (£202m at current exchange rates) in stores growth between 2006 and 2009, and will add 23 stores to ...
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News
Magnit profits up 46%
Net profits at local grocery chain Magnit jumped 46% in 2009 to $275.2m (£176m).Preliminary net retail revenue rose 28% to RUB169.6bn (£3.79bn). Like-for-likes climbed 4%, helped by a 6% rise in average basket value. The retailer added 646 stores in the year. Magnit said it will continue to cut prices ...
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News
Grocery accounts for majority of Walmart US sales
Walmart revealed that its US division generated a majority of its sales from grocery categories for the first time in its history last year.Grocery sales - including meat, produce, deli, bakery, dairy, frozen foods, floral and dry groceries, as well as consumables such as health and beauty aids, household chemicals, ...
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News
Tesco opens first Extra store outside Britain
Tesco has launched its first Tesco Extra store outside Britain in Central Europe, in Bratislava, Slovakia.It has revamped the hypermarket in the capital’s Petržalka suburb to introduce the format, which offers services and boasts self-checkouts.Tesco’s Petržalka store director said: “It is the first Tesco Extra outside Britain. Operating directors from ...
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NewsTed Baker sets sights on India despite global trading challenges
Ted Baker is targeting India as it continues to expand into new markets.
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OpinionBreak down the cross-border barriers
UK consumers are Europe’s biggest online shoppers. Most other EU states are way behind so there’s a lot of future business out there and many retailers want to tap into it. But it’s often not that easy, says Stephen Robertson
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AnalysisDiscount conversion won’t solve hypermarket woes
Remodelling an underperforming store into a discount format does not really address the underlying concerns regarding the profitability of a particular hypermarket.
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NewsIsraeli cosmetics chain Laline targets UK via Land Securities tie-up
Israeli cosmetics chain Laline is on the hunt for stores in the UK as part of a deal with landlord Land Securities’ Brand Empire venture.
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News
Coles offers online groceries to Northern Territory
Coles has become the first major grocery retailer in Australia to introduce an online shopping service to the Northern Territory with the launch of Coles.com.au to residents in Darwin and the Top End, Retail World reported. Separately, rival Woolworths will introduce its online shopping service into Western Australia for the ...
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OpinionIs management shake-up just the start for Metro?
Metro Group has announced a shake-up of its leadership and unveiled a new corporate logo ahead of its 2009 results conference. The shuffling of senior management mainly affects the trade group’s Metro Cash & Carry division, and reflects a significant structural change there.