All International articles – Page 265
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Gary Muto to head Gap spin-off
Gap brand president Gary Muto is to head development of the retailer’s proposed unnamed chain, which will target women aged over 35. A replacement for Muto is being sought.
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Ishop execs sued
Three executives of start-up online shopping mall IshopNoMarkup.com are being sued by the US Securities and Exchange Commission. They are accused of having misled investors about business prospects to raise money.
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US corporate governance rules ‘offend’ retail chiefs
Top US retail executives have slammed an increasing corporate governance burden as a ‘lawyers’ charter’.
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Nike signs for Budapest
Nike has agreed a pre-let at Miller Developments and Raiffeisen Ingatalan’s Budapest Factory Outlet Center. Nike will be taking 7,530 sq ft (700 sq m) on a 10-year lease at £100,000 a year. The mall, situated west of Budapest, is on schedule for completion in October and has already secured ...
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Esprit profit hits £142m
International fashion group Esprit reported full-year net profit of HK$2 billion (£142 million) on turnover of HK$16.4 billion (£1.17 billion).
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Lidl opens in Slovakia
German discounter Lidl has opened its first shop in Slovakia. The store is in the Bratislava borough of Petrzalka. Lidl, which operates 5,000 stores across Europe, has not revealed how many stores it plans in the country.
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The economy is strong says Wal-Mart’s Scott
The two biggest retailers in the US played down concerns about the economy at Goldman Sachs’ 11th Annual Global Re-tailing Conference last week.
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Borders and Limited Brands look overseas
Medium-sized US retailers are turning up the heat on international ambitions, despite the apparent reluctance of US retail giants to take the plunge. At the Goldman Sachs conference in New York last week, Limited Brands - which owns Victoria’s Secret among other labels - and books specialist Borders flagged ...
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Kesko appoints chief
Kesko, Finland’s biggest retailer, has named its head of hardware Matti Halmesmaki as its new chief executive.
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White Company’s Middle East push kicks off in Dubai
Multi-channel gift and home specialist The White Company is pushing into the Middle East with the help of Bahrain-based Jawad Business Group.
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Norway fights back at Lidl
Norwegian grocers are to join forces to take on German discount chain Lidl , which is due to open 65 stores in the country from this summer. They hope to lower costs and improve competitiveness with joint IT and transport venture TakeCargo.
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Comer takes Ardennes as it moves into outlets
Europe’s factory outlet centre sector has a new player, with ambitions to grab a major slice of the lucrative Continental market.
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Ralph Lauren to target preppy kids with Rugby
Polo Ralph Lauren is to take on Abercrombie & Fitch with new fascia Rugby, aimed at preppy teens and college kids.
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Budapest centre works begin
Miller Developments and local partner Raiffeisen have started work on the Budapest Factory Outlet Center, the first of its kind in the Hungarian capital.
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Ahold’s Euronext spat
Ahold expressed disagreement with a Euronext decision to give the Dutch retailer a serious written warning regarding violations of Euronext rules on press releases. The warning related to difficulties that emerged at Ahold early last year.
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Lowe’s to spend $7bn on aggressive growth push
Lowe’s is to invest nearly US$7 billion (£3.81 billion) in the next two years to expand and upgrade its store portfolio to compete harder against market leader Home Depot.
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Toys R Us sues Amazon
Toys R Us has filed a lawsuit against Amazon .com, alleging breach of the exclusivity arrangement that Toys R Us has to sell merchandise on Amazon’s Web site. Toys R Us struck the deal in 2000.
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Senate hearing threatens the future of RFID in US, fears NRF
US legislators’ concern over Radio Frequency Identification Tracking (RFID) reached another level with a Senatorial hearing in California, which started last week.
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UK market the favourite among foreign retailers
The UK has become a prime target for expansion-minded retailers, according to research from Jones Lang LaSalle. The UK has attracted more new entrants then any other major market over the past few years. These include Tchibo, Moreland and Deichmann from Germany, Jennyfer, Aigle and Paul from France, Geox, Expensive! ...