All International articles – Page 254
-
News
Finlay Enterprises has filed for Chapter 11 bankruptcy protection
Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...
-
News
Retail Sales fall again in US
Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...
-
News
Williams-Sonoma signs franchise agreement with MH Alshaya Co
San Francisco-based home furnishings and kitchen equipment retailer Williams-Sonoma has signed a franchise agreement with MH Alshaya Co covering the Middle East region. The partnership is expected to open its first four stores under the Pottery Barn and Pottery Barn Kids banners in Dubai and Kuwait next year.The move marks ...
-
AnalysisCVS strategy pays off as it storms ahead of rivals
“This is shaping up to be a very good year and we expect an even better 2010.” Such upbeat words have not been heard often in retail this year, but Tom Ryan, chief executive of US pharmacy retailer CVS, has every right to be on a high after turning in ...
-
News
Yamada Denki and Kojima announce results
Fortunes were mixed in Japan as consumer electronics giants Yamada Denki and Kojima announced their results for the first quarter ending June 30.Revenue at Yamada Denki rose by just over ¥6bn (£38m) to reach ¥430.68bn (£2.7bn) for the quarter. Despite the rise in revenue, the retailer reported a slide in ...
-
News
Otto apologises for wrongly priced goods
Mail order and online retailer Otto has apologised to customers after more than 6,500 orders were placed for laptops at massively discounted prices, owing to a pricing error on its website.A variety of laptops, including MacBooks, worth up to e2,000 (£1,714) were advertised at between e30 and e50 (£25.60 and ...
-
News
Argentina: Retailers’ sales suffer
Retailers suffered the worst sales month this year in July, according to the Argentine Confederation of Medium-sized Companies. July retail sales fell 16.1% on a year-on-year basis as shoppers, already downbeat from the recession, stayed away from stores and other public places due to concern about swine flu.Argentina has seen ...
-
News
Auchan signs revolving credit facility
Food and general merchandise retailer Auchan has signed an €800m (£686m) revolving credit facility with a syndicate of international banks, according to local press.The transaction raised a total of €1.3bn (£1.1bn) in syndication and was subsequently increased from the launch amount of €400m (£343m).The transaction was led by Banco Santander, ...
-
News
Target to bring the management of its ecommerce platform back in house,
Mass merchandiser Target plans to bring the management of its ecommerce platform Target.com back in house, bringing to an end what will be a 10-year outsourcing partnership with Amazon.The retailer expects to launch the new platform in advance of the holiday season in 2011. Amazon and Target linked up to ...
-
News
Delhaize Group posts revenue rise
Grocer Delhaize Group posted revenues of €10.2bn (£8.74bn) for the first half of the year, representing a 13.8% rise over the same period last year.With the group’s largest market being the US, sales growth was largely attributable to a strengthening of the US dollar against the euro. Nevertheless, the result ...
-
News
Tengelmann to overhaul Kaiser’s Tengelmann supermarket network
Retail conglomerate Tengelmann is preparing to overhaul its German Kaiser’s Tengelmann supermarket network and is considering selling some of the stores in order to lift the network’s profitability, according to local trade press.The chain consists of about 710 stores nationwide, but the review is expected to focus on trimming its ...
-
NewsGerman fashion house Escada to file for insolvency
German fashion house Escada has failed to get enough backing for a crucial part of its financial restructuring plans and said it will file for insolvency this week.
-
NewsUS sales down 4.7% in July
US retail sales fell again in July marking the 11th consecutive month of sales declines in the country.
-
News
Pharmacy Chain 36.6 reports preliminary consolidated sales drop
Pharmacy Chain 36.6 reported preliminary consolidated sales dropped 13.1 per cent in the first half of the year to RUB11.63bn (£222.1m).The company’s retail sales slumped 17.4 per cent on the year to RUB8.8bn (£168m).At the end of June the company had 1,036 pharmacies in 29 Russian regions. It opened six ...
-
News
LVMH records revenue of €7.8bn
Luxury goods retailer LVMH recorded revenue of €7.8bn (£6.7bn) in the first half, reflecting a slight increase against the same period in 2008 despite the global economic crisis and a strong comparable performance.Chairman and chief executive Bernard Arnault said: “The first-half results once again demonstrate the exceptional appeal of our ...
-
News
Wesfarmers has a better outlook for Australian retail sector
Multi-sector retail group Wesfarmers has revealed that it sees a better outlook for the Australian retail sector as global economic conditions start to improve.Chief Executive Richard Goyder said “the world was pretty grim” at the beginning of the year, but added: “It’s certainly better now than it was then.”Goyder added ...
-
News
Brazilian supermarket sales continue to top last year's
Brazilian supermarket sales continued to top last year’s figures in June, according to the Brazilian Supermarkets Association (Abras), leading to increased optimism for growth over the year.Supermarket sales in June increased 4.8 per cent in real terms compared with June last year, the trade group said.Abras raised its forecast for ...
-
News
Staples International president to leave the business
Staples International president Peter Ventress is to leave the business for a chief executive position at an as-yet unnamed UK-based public company.Staples president and chief operating officer Mike Miles will assume Ventress’ responsibilities from September 1, making Miles responsible for all of Staples’ international businesses.Chairman and chief executive Ron Sargent ...
-
News
Casino's Exito business nakes deal with Cafam
Casino is to extend its reach in Colombia through a deal between its Exito business and local grocery and pharmacy group Caja de Compensación Familiar (Cafam).Exito will run Cafam’s 38 supermarkets and hypermarkets, while Cafam will operate Exito’s 91 drugstores, giving it a nationwide presence and a total of 150 ...
-
News
Colruyt posts increased first-quarter sales
Discounter Colruyt posted first-quarter sales up 6.6 per cent to €1.67bn (£1.42bn) against the same period last year.Sales from the group’s retail business activities climbed 7.3 per cent to €1.28bn (£1.09bn). Wholesale and food service sales jumped 10.4 per cent to €287.5m (£244.4m) as a result of the growth of ...