All International articles – Page 245
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AnalysisRange rationalisation bears fruit at Walmart
Walmart’s third-quarter results indicate that Project Impact, the five-year strategy calling for improved layouts and reduced inventory, has begun to bear fruit.
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News
RT Mart to launch flagship store in Beijing
Auchan subsidiary grocer RT Mart is to launch a flagship store in Beijing – its first in the city.The grocer, which is based in Taiwan, is fitting out the store at present and will be located in the city’s Chinatown Shopping Plaza.Auchan also recently announced plans to step up expansion ...
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OpinionBuild bridges with Chinese suppliers
Despite economic growth signalling the end of recession, UK retail sales have frequently been flat against the same periods last year, indicating that a proper recovery will take more time.
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Opinion
Bundlebox.com
In theory, the internet should enable a global retail market. In practice, of course, the cost and complexity of international payments and fulfilment logistics have limited cross-border retailing.
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NewsDebenhams buys Danish chain to extend presence
Department store operator Debenhams last week bought Danish department store group Magasin du Nord for £12.3m, providing a bridgehead into Europe.
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News
Dollar General floats on the New York Stock Exchange
Dollar General, the value retailer backed by private equity house KKR, floated on the New York Stock Exchange last week.KKR still controls 89.5% of Dollar General, which would be valued at $7.7bn (£4.6bn), based on the $716m (£427.8m) raised in the IPO.The retailer has been one of the winners in ...
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NewsRetailers target Europe for low-risk expansion
Retailers are still keen to expand internationally despite the recession, although most are focusing on the more mature Western European markets to limit risk.
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News
US retail sales rose by more than expected in October
Retail sales rose by more than expected in October, largely due to a resurgent car market.Sales rose 1.4%, rebounding strongly after a revised 2.3% decline in September, according to figures from the Commerce Department.The increase was driven almost entirely by higher auto sales in October as demand returned following a ...
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NewsDollar General makes NYSE debut
US discount retailer Dollar General is today making its debut on the New York Stock Exchange in what is one of the most anticipated IPOs of the year.
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NewsTesco joint venture to build malls in China
Tesco is to build three shopping malls in China after forming a property joint venture with local partners.
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News
Delhaize Group posted 1.9% revenue growth
Delhaize Group posted 1.9% revenue growth at identical exchange rates for the third quarter. At actual exchange rates the supermarket operator increased revenues by 4.8% to €4.9bn (£4.4bn) due to the strengthening of the US dollar by 5.2% against the euro compared with last year. Operating profit rose 5.7% to ...
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News
Caremark has lost out on £2.9bn in contract renewals
CVS’s pharmacy benefit management arm Caremark has lost out on about $4.8bn (£2.9bn) in contract renewals this year.The retailer warned investors to expect margins to fall by about 10% next financial year as a result. CVS reported a 17.9% year-on-year rise in revenues to $13.6bn (£8.3bn) at its retail pharmacy ...
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News
ICA posted third quarter net sales of £2bn
Ahold’s Scandinavia and Baltics arm ICA posted third quarter net sales of Skr23.5bn (£2bn) - a 3% increase compared with the same period last year. At constant exchange rates, net sales climbed 1.3% at the grocer. Operating income rocketed 37% to Skr936m (£82m).ICA managed to significantly reduce its losses in ...
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News
Whole Foods Market reports 2.3% sales increase
Organic retailer Whole Foods Market reported a 2.3% sales increase to $1.8bn (£1.1 bn) for the fourth quarter to September 27.Comparable store sales decreased 0.9% versus a 0.4% increase the previous year. Adjusted EBITDA soared 46% to $133.5m (£81.8 m). Chief executive John Mackey said: “We believe our sales have ...
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News
Walmart plans to open a further 40 stores in India
Walmart plans to open a further 40 stores in India, according to Indian commerce and industry minister Anand Sharma. “Walmart is very satisfied with its results in India. I was informed by the Walmart CEO that they are looking at opening more stores. He gave me a figure of 40 ...
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AnalysisTraining that’s above and beyond
Is it necessary for overseas retailers to train their staff back home, asks Sara McCorquodale.
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NewsNordstrom woos UK shoppers with web access
US luxury department store operator Nordstrom has opened up its website to UK shoppers.
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News
Carrefour's Guy Yraeta is to leave the business
Carrefour’s Guy Yraeta, who is in charge of the group’s key European operations, excluding France, is to leave the business.Yraeta spent 33 years at Carrefour and is responsible for the hypermarket reinvention project, which is in the process of developing a new concept for Carrefour’s struggling hypermarket format. Until a ...
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News
Sales at electronics retailer Yamada Denki climb
For the six months to September 30, sales at consumer electronics retailer Yamada Denki climbed 1.9% to JPY936.6bn (£6.3 bn). Operating profit fell 15.4% to JPY25.1 billion (£168 million). Net profit was down 20.2% to JPY16.4 billion (£110 million).
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AnalysisUS’s toy wars could mean victory only for consumers
With Christmas fast approaching, US discount giant Target this week introduced price cuts on toys at its stores.