All International articles – Page 246
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News
Abercrombie & Fitch reports net income drop of 39%
Young-fashion chain Abercrombie & Fitch reported net income dropped 39% to $38.8m (£23.8m) in its third quarter.Net sales declined 15% to $765.4m (£468.9m) while comparable store sales were down 22%.At a divisional level, comparable store sales fell 18% at Abercrombie & Fitch, 22% at Abercrombie Kids, 26% at Hollister and ...
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News
Sales at Shoppers Drug Mart increase 7.9%
Sales at pharmacy chain Shoppers Drug Mart increased 7.9% to C$3bn (£1.7bn) in the third quarter, with the retailer continuing to experience strong sales growth in all regions of Canada.Excluding tobacco products, same-store sales climbed 4.8%. Prescription sales rose 9.7% to C$1.5bn (£856.4m) during the quarter, accounting for 49.1% of ...
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News
FamilyMart to acquire Am/pm Japan
Convenience retailer FamilyMart is to acquire Am/pm Japan for ¥12bn (£80.1m) from parent company Rex Holdings.FamilyMart, Japan’s third largest convenience chain, plans to absorb Am/pm next year and will rebrand the stores over the next two years.The chain will be acquired in partnership with its main shareholder Itochu. The merged ...
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News
Ahold on hunt for targeted acquisitions again
Ahold is on the hunt for targeted acquisitions again.The retailer’s E2.6bn (£2.3bn) cash pile and very low debt levels – net debt stands at about E1.16bn (£1.03bn) – mean it can now pursue growth in new and existing markets.The retailer this month hired operational managers for its European and ...
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News
Woolworths and Lowe’s win final approval to jointly set up hardware stores in Australia
Woolworths and Lowe’s, the US’s second largest home improvement chain, have won final approval to jointly set up big hardware stores in Australia, acquiring domestic hardware wholesaler Danks Holdings to act as their supplier.The Australian Competition and Consumer Commission said it allowed the takeover to go ahead after Woolworths and ...
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News
Costco highlights Asia as key growth region
Warehouse club operator Costco has highlighted Asia as a key growth region.In Japan, Taiwan and South Korea, Costco said it has the capacity to trade from 100 stores.In Australia, where it opened its first store in August, the warehouse club operator believe it can reach 20 stores. As a result, ...
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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 ...