All International articles – Page 260
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News
Japanese grocer to launch own-label range at its discount chain
Seven & I-owned grocer Ito-Yokado is to launch an own-label range at its discount chain, The Price.The discounts in the range have been achieved through the use of irregularly shaped produce and simplified packaging. Prices will be around 30 to 50 per cent lower than branded products. The range includes ...
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Pick n Pay expects sales to climb
Food retailer Pick n Pay has given an optimistic outlook for this year and said it expects sales to climb by up to 6 per cent year on year. This is despite retail sales across the country falling by 6.7 per cent year on year in April.Gareth Ackerman, chairman of ...
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Tesco committed to expansion in Thailand
Tesco remains committed to expansion in Thailand despite no clear sign of an economic recovery.The grocer – which trades under the Tesco Lotus banner in Thailand – plans to open five or six hypermarkets and 40 Express outlets in the present financial year.Tesco Lotus chief executive Steve Hammett said ...
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Shares at Gome rally
Shares at electricals retailer Gome have rallied after a seven-month suspension in trading when it revealed that US private equity firm Bain Capital will invest up to US$418m (£254.5m) in it.The deal gives Bain up to 23 per cent of shares, making it the second-largest shareholder, and will lend beleaguered ...
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OpinionFizz has gone out of UK retailers' duty-free offers in France
If things aren’t going well, should you give up or try and fix them? Look at the poll this week on the Retail Week home page and you’ll see the question “Is it worth UK retailers continuing to have duty-free operations in northern France?”Video:The Retail Week Booze CruiseAs is so ...
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Court orders Amazon to pay Toys R Us £31m
Amazon has been ordered by an American court to pay $51m (£31.2m) to Toys R Us after the e-tail giant terminated an exclusive distribution deal in 2004.The partnership was due to last until 2010, with the toy retailer agreed as Amazon’s sole supplier of toys, games and baby goods.The fine ...
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US DIY spending ‘lowest in 60 years’
US DIY spending as a percentage of America’s GDP is at its lowest in 60 years, Home Depot boss Frank Blake said.However, the retailer expects a smaller fall in annual earnings than previously feared. Originally a decline of 7 per cent was forecast but it is now expected to be ...
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Ikea abandons India investment plans
Ikea has abandoned $1bn (£611.2m) investment plans for India due to the red tape that still exists for foreign retail entrants.The furniture giant had been considering launching in India but wanted to do so with full ownership, which the law does not allow foreign retailers to do.After the election of ...
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Most retailers expanding abroad entering Mid East markets
Saudi Arabia attracted the most new retailers in the past year, with 37 opening their doors there, a CB Richard Ellis report found.The study showed that most retailers expanding abroad were entering Middle Eastern markets; Kuwait and the United Arab Emirates were also in the top five.Separately, AT Kearney’s annual ...
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NewsArcandor teeters as talks to salvage business continue
The future of beleaguered German conglomerate Arcandor hangs in the balance after it began insolvency proceedings last week.
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Singapore retail sales in biggest slump for a decade
April sales suffered their biggest drop for a decade in Singapore as shoppers cut back on high-ticket purchases in the country’s deepest recession to date.The retail sales index fell 11.7 per cent in April against last year. Sales had fallen 7.3 per cent in March and 5.5 per cent in ...
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Neiman Marcus considers selling lower-priced goods
US Luxury department store chain Neiman Marcus will consider selling some lower-priced goods after sales plunged 24 per cent year on year in its third quarter.Although Neiman Marcus will not abandon higher-priced products, it said it would merchandise goods with a greater range of price points.Chief executive Burt Tansky told ...
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NewsIndia offers greatest retail opportunities study shows
India offers the greatest investment opportunities for international retailers, a study has found.
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News
Visa charges to retailers ‘completely unfair’ claims Eurocommerce
EuroCommerce, an intervenor in the appeal loged by Mastercard with the European Court of Justice, has lodged a new complaint against Visa Europe claiming that its charges to retailers are an infringement of European competition law.
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NewsTesco builds Chinese mall
Tesco will open its first shopping centre in the northeastern Chinese city of Fushan later this year.
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X5 moots expansion into Ukraine
X5, the largest grocer in Russia, is considering expanding in Ukraine.Group chief executive Lev Khasis said X5 is looking at a “big” merger, which would lead to the issue of new shares. He said the initiative in the country is a “theoretical opportunity” and the retailer has not made any ...
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Wal-Mart will not “accelerate” Marketside openings
Wal-Mart will not “accelerate” openings of Marketside, the store format developed in response to Tesco’s Fresh & Easy US chain.Wal-Mart Stores vice-chairman Eduardo Castro-Wright said: “The test we’ve had in Phoenix, we’re pleased with. Given the current economic conditions we are not accelerating the effort until we have better data ...
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Aggressive Ackman falls flat after failed Target coup
The latest boardroom battle that William Ackman, head of US hedge fund Pershing Square Capital Management, has waged has ended in tears – literally, according to US reports.
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AnalysisNew Wal-Mart chief Mike Duke: ‘This is our time’
Changing consumer habits create opportunities, new Wal-Mart chief Mike Duke believes – but the retailer can’t afford to be complacent. George MacDonald reports from the US
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Comercial Mexicana considers debt for equity swap
Mexican supermarket group Comercial Mexicana is considering a debt for equity swap as part of discussions with its creditors. In October the retailer defaulted on its debt after being hit hard in the global downturn.Comercial Mexicana has been attempting to strike a deal without selling key assets or giving up ...