All International articles – Page 267
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GalleryStore of the week: Zain, Bahrain
Zain, a Bahrain-based phone retailer, has just unveiled a flagship in the Emirate’s Seef Mall. At 3,550 sq ft, this single-floor store has a large footprint by the sector’s standards.
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News
Battle for Sears Canada is hotting up
The battle for Sears Canada is hotting up with reports in the US suggesting that major shareholder Sears Holdings has bought 400,000 shares in the company.The move renewed speculation that it may be plotting a bid for the Canadian arm of its business.In 2006, minority shareholder William Ackman blocked a ...
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Casino gains call option on ING stake in Super de Boer
An agreement with ING has given grocer Casino a call option on the bank’s stake in Dutch grocer Super de Boer.
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Borders US fears grow as market woes widen losses
Embattled bookseller Borders US has plunged further into the red, prompting some experts in the US to suggest Chapter 11 bankruptcy may be its only chance of survival.The company reported a consolidated loss of $16.2m (£10.9m) in the year to January 31 compared with a consolidated loss of just $400,000 ...
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PPR boss trapped in car by employees
Billionaire retailer François-Henri Pinault was held captive in his car for an hour after becoming a victim of the trend for credit crunch boss-napping in France.Pinault, who is chief executive of luxury brands group PPR and husband of Hollywood actress Salma Hayek , was trapped by 50 employees angered ...
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Japanese convenience stores expand in China
Aeon is to open its first convenience stores in China, while Seven-Eleven Japan is set to expand its chains there further.
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Macy’s credit rating reduced to junk status
Macy’s had its credit rating reduced to junk status by ratings agency Moody’s.
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Magnit profits double
Budget food retailer Magnit has reported that profits doubled last year.Sales at Magnit, which operates discounters and hypermarkets in the south and northeast of Russia, rocketed more than 40 per cent to $5.3bn (£3.79bn) from $3.7bn (£2.5bn). Magnit forecast that sales would increase 35 per cent this year.Chief executive Sergei ...
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NewsMothercare to pave way for global e-tailing as sales soar
Mothercare plans to open up its e-tail business globally by enabling customers in all of the 51 countries it operates in to buy online.
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NewsHarrods to open in Kuala Lumpur
Harrods is poised to open a store in the heart of the Malaysian capital’s shopping district in Kuala Lumpur.The iconic department store group will open the store on Saturday within the shopping complex Suria KLCC, which is situated next to the Petronas Towers in Kuala Lumpur.The store, which is called ...
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NewsDSGi responds to rights issue rumours
DSGi has issued a statement on the London Stock Exchange saying that no decision has been taken on whether it will undergo a rights issue.
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NewsDSGi to sell Central European stores, reports claim
DSGi is believed to be poised to sell its Electro World stores in Central Europe to Slovakia-based consumer electronics retailer NAY.
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OpinionMothercare is all grown up
Mothercare appears to have its corner of the retail sector all sewn up.Today, the maternity and baby specialist unveiled a stellar set of results, with UK sales ahead of expectations and international sales soaring.It is a repeat story for the retailer that rarely puts a baby step out of place.Admittedly, ...
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Analysis: Inditex’s Euro strongholds give it the edge over H&M
Fashion giants Inditex and H&M reported solid results last week, but as the global downturn continues to deepen both retailers need to remain at the top of their game. While both are formidable players, some argue that H&M faces more challenges than its rival Inditex.The Spanish giant – owner of ...
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News
International news
US Health and beauty giant Walgreens reported net earnings for the second quarter ending February 28 down 6.7 per cent to $640m (£450.5m). Total sales increased 7 per cent to $16.5bn (£11.6bn), while comparable store sales rose 1.3 per cent.Prescription sales, which accounted for 63 per cent of the total, ...
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NewsRiver Island to retreat from Turkish market
River Island is quitting the Turkish market because of the challenges of doing business in the country.
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NewsHollister to press ahead with Continental push
Abercrombie & Fitch sister brand Hollister is to defy the economic slowdown as it forges ahead with a Continental European roll-out.
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Opinion
Property comment: Recession? What recession?
You could be forgiven for thinking that there’s not much to be optimistic about in UK retail at the moment. But maybe the foreign retailers still flooding into the UK have seen something we haven’t?