Latest property news – Page 140
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News
H&M reports sales increase
H&M’s sales including VAT for the full year 2012 rose 11% in local currencies.Net profit for the full year was up 7% to SEK16.87bn (£1.7bn) compared with SEK15.82bn (£1.59bn) in 2011.H&M opened 304 new stores worldwide in 2012 and will add 325 more this year, with the fastest rate of ...
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Supermarket chain Mega Image opens new-model store
Delhaize Group’s Romanian supermarket chain Mega Image has opened a new-model store in Bucharest. The store is twice as large as an average Mega Image shop with 17,200 sq ft of sales space and differs in its broad assortment, modern layout and signage.The store focuses mainly on fresh food, particularly ...
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Best Buy to close 15 big-box Canadian stores
US-based electronics specialist Best Buy has revealed it will close 15 of its big-box stores in Canada.The initiative is the first step in a three-year strategy to optimise Best Buy’s retail footprint across its markets, according to the company.The retailer plans to open Future Shop small stores, ecommerce banners and ...
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News'Midsummer murder' for retailers if Government pushes back rates revaluation
Retailers face a “midsummer murder” if the Government presses ahead with a postponement to business rates revaluation by two years.
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NewsConran Shop enjoys strong Christmas as it rolls out new store design
Upmarket furniture retailer Conran Shop is poised to roll out its new store design across the business after reporting a strong Christmas.
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NewsRepublic chairman Andy Bond departs as restructurer KPMG appointed
Republic chairman Andy Bond left the fashion retailer last week it has emerged, as it appointed restructurer KPMG to help it shed some of its 121 stores.
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NewsCSL reports record year as it plans expansion in Scotland
Sofa retailer CSL revealed a pre-tax profit jump from £200,000 to £2.5m in the year to December 31, 2012 as it plans to invest £4m to expand the business in Scotland.
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NewsFormer Borders boss opens new retail venture
Former Borders chief executive Philip Downer has opened a new gifts, books and homeware store, Calliope Gifts.
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NewsMorrisons acquires Jessops stores as convenience arm expands
Morrisons has acquired seven Jessops stores in a bid to step up the expansion of its M Local convenience chain and fightback against its rivals Tesco and Sainsbury’s.
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NewsRestructurers circle Store Twenty One as it closes website
Troubled fashion retailer Store Twenty One, which stocks a range of lingerie by glamour model Katie Price, has attracted the interest of restructuring firms.
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NewsUp to 100 HMV shops face closure as axe falls on store staff
Up to 100 HMV stores are set to close when their stock is sold, administrators will tell staff of the collapsed retailer this week, pulling the plug on 1,500 jobs.
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NewsB&Q Ireland appoints examiner in a bid to save the struggling retailer
B&Q Ireland, a subsidiary of Kingfisher, has appointed an examiner to rescue the business, which has been hit by the decline in consumer spending.
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NewsJessops bought out of administration by Dragons' Den star Peter Jones
Collapsed camera specialist retailer Jessops has been bought out of administration by entrepreneur and Dragons’ Den star Peter Jones.
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NewsTheo Paphitis backs campaign to freeze business rates
Retail entrepreneur and star of Dragons’ Den Theo Paphitis is backing the Retail Week and British Retail Consortium (BRC) campaign urging the Government to freeze business rates.
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News
Spar International plans to enter Middle Eastern market
Spar International plans to enter five markets in the Middle East, with the aim of 30 stores in the region by the end of 2015.Eight shops are planned for Abu Dhabi, two for Qatar and one in Lebanon by the end of the year.Spar has teamed up with local retailer ...
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Discounter Dollar General plans 600 new stores across US
Discounter Dollar General plans to open more than 600 stores across the country this year, bringing its total to 11,000. It also plans to recruit 6,000 more employees.Executive vice-president and chief people officer Bob Ravener said: “We’ve been on an aggressive growth pattern. We’ve seen some tremendous opportunities.”
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Aeon shows increasing interest in Asian retail market
Japanese retailer Aeon and a unit of Thailand’s Central Group are thought to be considering a bid for Indonesia’s Matahari department stores.Private equity firm CVC Capital Partners owns a major stake in Matahari’s retail division, and reports suggest it is seeking as much as $3.5bn (£2.23bn) for a buy-out.Aeon has ...
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US clothing retailer Gap prepares to enter India
US clothing retailer Gap is preparing to enter India in 2014.Rajiv Malik, general manager for sourcing in India, would not confirm whether Gap planned to enter the market on its own or with a local partner.
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News
Gulf Related to open 2.85 million sq ft shopping centre in Abu Dhabi
A $1bn (£635.9m) shopping centre developed by Gulf Related that is larger than any equivalent urban centre in Europe is due to open in August.The 2.85 million sq ft Abu Dhabi-Sowwah Central development will feature luxury shops and restaurants. The Galleria, a 550,000 sq ft space within the complex, is ...
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Carrefour's Greek franchisee to invest in Serbia
French retailer Carrefour’s Greek franchisee Marinopoulos is planning to invest in Serbia.The retailer will open a flagship store in a new shopping centre in Belgrade. The shop is scheduled to open in a year’s time.