All International articles – Page 249
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News
Cencosud reports a 16% decrease in net sales
Grocery retailer Cencosud reported a 16% decrease in net sales to CLP1.24 trillion (£1.38bn) in its second quarter.The retailer was knocked by the financial crisis and adverse exchange rates in the international markets where it operates.Meanwhile, rival Falabella reported CLP832.8bn (£924.2m) sales for its second quarter, 7.8% lower than the ...
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NewsMothercare picks planning system for international business
Mothercare has selected a pre-season planning application from Torex to support its growing International division.
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NewsItalian retail giant Gruppo Coin looks for UK stores
Italian retailer Gruppo Coin is seeking suitable UK locations to launch its department stores and fast-fashion chain OVS.
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AnalysisOtto spearheads the changes in home shopping
Otto may have just turned 60, but the world’s biggest home shopping group is evolving its model to stay relevant to the times. Lisa Berwin reports
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OpinionThe billion Dollar question
At last, a retail IPO. Dollar General’s flotation is happening in the States not the UK, but success would be a sign that markets may be fully opening again and that stores can win investor backing.
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NewsLittlewoods launches in Europe
Home shopping giant Shop Direct Group today launched Littlewoodseurope.com, targeted at customers in France, Germany, Spain and Portugal.
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NewsLowe’s makes first international move with Woolworths Australia
Lowe’s, America’s second biggest DIY chain, is making its first international move through a joint venture with Australia’s Woolworths.
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News
ICA’s Scandinavian net sales jump
Ahold-owned food retailer ICA’s Scandinavian net sales jumped 5.7% to Skr46.6bn (£3.7bn) for the first half of this year, although operating profit fell 7.7% to Skr484m (£67m). ICA is struggling in Norway, where despite increased sales, its operating loss widened.In the Baltics, net sales in local currency decreased 5.8%, mainly ...
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News
First-half sales at Flamingo nosedive
First-half sales at electronics retailer Flamingo nosedived 45% to ROL187m (£38m).Chief executive Stefan Treiber explained the drop had been the result of a decline in the local market, but believed problems would not continue in the second half as costs had been cut, including reducing the number of employees from ...
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News
US fashion retailers struggle in second quarter
A number of clothing retailers have reported negative results in their second quarters, with only Urban Outfitters posting positive sales up against last year.Abercrombie & Fitch made a net loss of $26.7m (£16.3m) against a profit of $77.8m (£47.6m) during the same quarter last year, with total sales plummeting 23% ...
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News
Lidl slows expansion in Finland
According to Lidl managing director Antti Tiitola, the Schwarz Group-owned discount grocer has slowed its pace of expansion in Finland due to its increasing saturation in the market.The retailer now plans to open just two to five stores each year.Lidl has more than 130 stores in Finland, with an overall ...
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News
Media-Saturn to enter Siberia
Metro Group-owned consumer electronics retailer Media-Saturn, which has been operating in Russia since late 2006, will enter Siberia in the fourth quarter of this year.The retailer runs 15 Media Markt electronics superstores in Russia. At present, Metro Group operates only cash and carry stores in Siberia.
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News
Shopper’s Stop managing director moves to non-exec role
BS Nagesh, managing director at K Raheja-owned multi-format retailer Shopper’s Stop, is leaving his role and moving into a non-executive position as vice-chairman of the company.As part of a company wide succession planning process Shopper’s Stop chief executive Govind Shrikhande will take over managing director duties from Nagesh and become ...
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News
Home Depot’s sales plummet
DIY giant Home Depot’s sales plummeted 9.1% to $19.1bn (£11.7bn) during its second quarter. Like-for-like sales were down 8.5%.“Concerns about the housing market, rising unemployment and softness in the overall economy continue to pressure consumers,” said chairman and chief executive Frank Blake. “Our business performed well in a down market, ...
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News
Office Depot launches flagship store in Kuwait
Office Depot has launched a flagship store at The Avenues Mall, its first in Kuwait. The store covers 9,690 sq ft and offers about 5,000 products and services, including a photocopy, print and ship centre.The store has been opened in partnership with local retailer MH Alshaya and is expected to ...
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News
Matahari continues to experience strong growth
Department store and grocery store operator Matahari, the largest local retailer, continues to experience strong growth. Sales were up 15.3% for the first six months to June 20 to reach IDR6 trillion (£359m).However, operating profits declined due to higher operational costs, such as wages. Sales were supported by the continuing ...
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NewsEuropean comeback to lift Kingfisher and Kesa
France and Germany’s emergence from recession is likely to benefit Kingfisher and Kesa, which both have big operations in the countries.
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NewsColes provides early signs of a successful turnaround
The latest results from Australian conglomerate Wesfarmers suggest that Coles, Australia’s second-largest retailer which Wesfarmers acquired in 2007, is reaping the benefits from its turnaround strategy.
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News
Carrefour to invest in greener stores in China
Carrefour is to invest a further Yn50m to Yn60m (£4m to £5m) in greener stores after saving Yn100m (£9m) last year, compared with 2005 – when it first started the energy-saving investments in stores.Carrefour China said: “All of the 139 Carrefour stores in China are in the process of implementing ...
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News
Gap drop in profits better than feared
Clothing giant Gap experienced a better than feared 0.4% drop in second-quarter profits. Sales were down across all of the retailer’s divisions, contributing to a 7.3% decline in group net sales to $3.24bn (£2bn). Group like-for-like sales dropped 8%.The higher-end Banana Republic brand’s like-for-like sales fell 15%, while Gap and ...