All International articles – Page 250
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News
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.
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NewsOnline retailers welcome postcode system for Republic of Ireland
Retailers have welcomed the revival of plans to introduce a national postcode system in the Republic of Ireland and believe the move should help catalogue and online businesses operate efficiently there.
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AnalysisLowe’s curtails expansion as it braces for tough 2010
DIY retailer Lowe’s has followed in the footsteps of rival Home Depot by scaling back its expansion plans.
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Pantaloon Retail sales up 31%
Pantaloon Retail’s net sales rose 31% to INR76.69bn (£994.8m) for the year to June 30.Net profit at the group, which is Indian’s largest retailer, plummeted from INR219.3m (£2.84m) the year before to INR100.7m (£1.3m).The decline was primarily due to rising employee costs, depreciation and interest charges.Kishore Biyani, chief executive of ...
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Aldi records £39m profit in Australia
Aldi’s discount store network in Australia delivered a profit of AUD72.6m (£39.19m) last year, on total Australian sales of AUD1.85bn (£998.6m).Aldi, which entered Australia in January 2001 and recently opened its 200th store there, has been profitable for the past three years. ”We have strong expansion plans for Australia ...
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Polish retail sales continue to rise in August
Polish retail sales continued to rise in August, increasing 5.2% year on year.The increase follows a 5.7% rise in July.A stable unemployment rate of 10.8% helped drive demand. This is in sharp contrast with nearby Hungary, where unemployment continues to rise, partly due to a decline in demand for Hungarian ...
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AnalysisUS retail: Battered and bruised, but on its way back
What happens in US retail is frequently mirrored in the UK. Financo chair Gilbert Harrison examines how the US is emerging from its brutal downturn
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Wal-Mart Canada opens first eco-friendly Supercenter
Wal-Mart Canada has opened its first eco-friendly Supercenter in Waterdown, Ontario.
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Carrefour enters Iranian market
Four months after opening its first store in Pakistan, Carrefour has entered the Iranian market via its Middle Eastern franchise partner, Majid Al Futtaim (MAF). The first hypermarket opened in Tehran. As in Pakistan, the store trades under the Hyperstar banner, rather than Carrefour.The store, which is open seven days ...
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News
Cencar expands loyalty programme
Carrefour’s operator in Thailand, Cencar Co, is stepping up its customer loyalty and retention programmes to better compete with rivals Tesco Lotus and the Casino-owned Big C chain.The retailer has dedicated THB50m (£937,894) towards the “Carrefour Month 2009” campaign, which will reward loyalty cardholders with discounts at 37 stores ...
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GalleryDoing Dallas: How does NorthPark measure up?
The US may do things bigger, but do they do them better? John Ryan visits Dallas and one of the Lone Star state’s top shopping centres to find out how its retail scene measures up
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News
Best Buy reports 12% increase in revenues
For its second quarter, Best Buy reported a 12% increase in revenues to $11bn (£6.7bn). Sales were lifted by the inclusion of Best Buy Europe’s revenue and gains from the addition of 170 new stores over the past year.Revenue gains were partially offset by a like-for-like sales decline of 3.9% ...
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Bharti Retail intends to become a billion dollar company by 2015
Local retailer Bharti Retail said it intends to become a billion dollar company by 2015 and is aiming to open 40 more retail outlets in the next three months.The group plans to invest up to $2.5bn (£1.5bn) by 2015 in its retail business. Bharti Enterprises vice-chairman and managing director Rajan ...
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Woolworths secures initial 5% stake in Danks
Multi-sector retailer Woolworths has secured an initial 5% stake along with its joint venture partner Lowe’s in hardware distributor Danks.The companies are set to take control of the DIY retailer following the acceptance of the AU$88m (£43m) takeover bid.An Australian Competition and Consumer Commission inquiry will examine the impact of ...
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Casino receives acquisition offer from Jumbo
Supermarket Super de Boer, owned by French retail group Casino, has received an acquisition offer from family-owned Dutch grocer Jumbo worth €482m.The board of Super de Boer are assessing the offer, while Casino, which owns about 57% of Super de Boer’s shares, supports the offer.If completed, the deal would represent ...