All International articles – Page 261
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News
Former Arcandor chief executive denies part in the group's downfall
Former Arcandor chief executive Thomas Middelhoff has denied he played a part in the downfall of the retail and tourism group.Arcandor was forced into insolvency earlier this month after the state refused to grant it aid on the grounds that its problems pre-dated the recession.“I am convinced that we have ...
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Barnes & Noble scales back its expansion plans
Bookseller Barnes & Noble has scaled back its expansion plans in the recession. America’s largest book chain by sales had planned to open 35 superstores this year, but now has only 15 in the pipeline. Most of these are replacing existing branches that have closed or are being relocated.Barnes & ...
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Retailers scale back expansion plans in China
Retailers are scaling back or delaying expansion plans in China as investors express concern about over-expansion and demand falls among Chinese shoppers.Grocer China Resources is to cut back its openings to 200 rather than 300, and fashion retailer Giordano International has shut 14 stores in China in the first quarter ...
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GalleryRecession hangover hits booze cruise retailers
Calais is the home of the booze cruiser, but a falling pound, shrinking shopper budgets and fewer day trippers have made it challenging for UK retailers and others. John Ryan reports.
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NewsTesco brings touch of Britain to Fresh & Easy
Tesco has introduced some classic British favourites such as Marmite and Heinz baked beans at selected Fresh & Easy stores in the US.
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Carrefour chief exec reportedly plots cost cutting drive
Carrefour chief executive Lars Olofsson is plotting a major cost-cutting drive to save it €2bn (£1.7bn) by 2012, according to French press reports.The grocery giant will update its 500 key executives this week on the plan to make it a more “agile” business, able to grow more rapidly and gain ...
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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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News
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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News
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.