All International articles – Page 248
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News
Alfa-Beta Vassilopoulos to acquire Koryfi
Delhaize Group-owned supermarket chain Alfa-Beta Vassilopoulos has agreed to acquire Greek grocer Koryfi for €7m (£7m) and the assumption of €1.8m (£1.5m) debt.The Delhaize Group said the acquisition will add 11 stores and enhance its position in Thrace, northeast Greece, where its presence is limited at present.The deal, subject to ...
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News
PPR to float CFAO
Luxury and retail group PPR has announced plans to float its CFAO distribution unit.The African division will be floated on the Euronext stock exchange in Paris by the end of the year, subject to favourable market conditions. The high-growth CFAO unit generated sales of e2.86bn (£2.45bn) last year.
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JC Penney signs Liz Claiborne licensing deal
US Department store chain JC Penney has signed a licensing agreement with Liz Claiborne to exclusively sell its namesake line of clothing in stores beginning in autumn next year.The 10-year deal includes 30 categories from apparel and accessories, including jewellery, shoes anda home merchandise. After five years, JC Penney will ...
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AnalysisUS warehouse clubs suffer as discretionary spend dips
US warehouse club operators like Costco will have to brace themselves for more difficult trading in the near term
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Family Dollar Store profits up
Family Dollar Stores posted a 25% net income increase to $291.3m (£178.2m) for the financial year ending August 29, up on the $233.1m (£142.6m) reported the year earlier. Operating profit, as a percentage of sales, was 6.1% for the period compared with 5.2% last year. Sales were $7.4bn (£4.5bn), a ...
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Gianni Versace plans Japan exit
Designer fashion brand Gianni Versace plans to exit the Japanese market due to a slowdown in consumer spending.Its three stores in Tokyo, Osaka and Chiba will be shut and liquidation measures are expected to be complete by the end of the year. “The Versace boutiques in Japan no longer represented ...
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NewsShoppers in Republic of Ireland still paying more than Northern counterparts
Shoppers in the Republic of Ireland are still paying almost a fifth more than those in Northern Ireland, despite retailers’ price war.
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NewsLand Securities retail venture to bring 10 overseas brands to UK
Property company Land Securities’ new retail offshoot Brand Empire is in talks with 10 international retailers about introducing them to the UK.
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Wal-Mart plans to offer more than 100 toys at £6 over Christmas
Wal-Mart is planning to offer more than 100 toys at $10 (£6) during the festive season.Last year, the grocery giant offered just 10 toys at that price point. The retailer will also, up until Christmas, match any local competitor’s advertised offer on the same toy product if it falls below ...
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Pantaloon Retail reported total group income rose 31%
India-based Pantaloon Retail reported total group income rose 31% to INR76.69bn (£1.01bn) in its financial results for the year ended June 30.Net profit after minority interest declined sharply from INR219.3m (£2.9m) in the previous year to INR100.7m (£1.3m). The group is expecting to achieve 35% to 40% sales growth during ...
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Walgreens has posted record figures for the year ended August 31
Drugstore chain Walgreens has posted record figures for the year ended August 31, with sales rising 7.3% to reach $63.3bn (£39.76bn).Net earnings for 2008/09 were $2.01bn (£1.26bn) reflecting a 7% decrease from the previous year.The retailer, famed for its rapid expansion, now wants to slow the pace of store openings. ...
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Fast Retailing reports like-for-like sales increase by 31.6%
Fast Retailing, operator of the Uniqlo clothing retailer, reported like-for-like sales increased by 31.6% year on year in September. Total sales climbed 41.5%.The company attributed the growth to cool temperatures throughout the month, which kept sales of autumn and winter goods strong. Also, an extra day of national holiday during ...
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EIB has approved a loan of €47m to help Metro Group set up five cash and carries in Vietnam
The European Investment Bank (EIB) in Luxembourg has approved a loan of €47m (£43.1m) to help Metro Group in Vietnam set up five cash and carries in Bien Hoa, Binh Duong, Nha Trang, Long Xuyen and Quy Nhon.The loan was issued following the European Union’s strategy in Asia to help ...
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Seven & I will take over about 80 kiosks at Keihin Electric Express Railway’s train stations
Seven & I, which operates the 7-Eleven chain, has said it will take over about 80 kiosks at Keihin Electric Express Railway’s train stations.This is the first time that 7-Eleven Japan will open stores in train stations. Rivals Lawson and FamilyMart already have business alliances with Tokyu and Siebu Railways, ...
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Rewe Group to acquire Coop Germany’s Sky supermarket network in the south
Retail conglomerate Rewe Group is to acquire Coop Germany’s Sky supermarket network in the south of the country, comprising 39 Sky stores as well as a warehouse and office premises in Ulm.The acquisition sees Rewe strengthen its presence in Baden-Württemberg and Bavaria. The Sky stores generate around E150m (£137.8m) of ...
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Delhaize Group enters non-binding letter of intent with BI-LO to its assets
Belgium-based grocer Delhaize Group has entered into a non-binding letter of intent with US retailer BI-LO to acquire a substantial majority of BI-LO’s assets, including associated inventory, for $425m (£266.8m).The news came in the midst of BI-LO’s bankruptcy proceedings in the US Bankruptcy Court for the District of South Carolina. ...
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Le Blog Mulliez reveals the first Auchan hypermarket is set to open in the Middle East
Le Blog Mulliez, an independent blog focusing on the Mulliez family’s retail empire, has unveiled that the first Auchan hypermarket is about to open its doors in the Middle East, in Dubai’s Dragon Mart shopping centre.The store has a sales area of 93,650 sq ft. It will be the first ...
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NewsFrench Connection axes Japan stores to stem loss
French Connection is to close its stores in Japan and intends to hand the operation over to a licensee in a bid to stem haemorrhaging losses at the division.
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Carrefour facing pressure from its largest investors
Carrefour is facing pressure from its largest investors, Colony Capital and billionaire Bernard Arnault, to sell its operations in Asia and Latin America.The call follows a drop of close to 30% in the value of Carrefour stock since the shareholders came on board in 2007.A source close to the board ...
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NewsCan Wal-Mart hold on to its new-found customers?
Wal-Mart’s everyday low price stance has been paying off in the US recession.