More on Me + Em – Page 2396
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News
Best Buy to close all Best Buy-bannered stores in China and Turkey
Electricals giant Best Buy is to close all Best Buy-bannered stores in China and Turkey, as well as its headquarters in Shanghai. The move is aimed at saving some $70m (£43.4m) by fiscal 2013. The retailer said its future plans in China would focus on its Five Star operations - ...
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Woolworths to acquire The Cellarmasters Group from Archer Capital for £214.6m
Woolworths is to acquire The Cellarmasters Group from Archer Capital for AUS340m (£214.6m). Cellarmasters is one of Australia’s largest direct-to-home wine retailers and providers of contract bottling and wine services with operations in Australia and New Zealand. The business represents a complementary bolt-on to Woolworths’ existing liquor portfolio, which ...
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Rewe Group net turnover up 4% for 2010 to £45.2m
Rewe Group increased its net turnover for 2010 by 4%, up to about e53bn (£45.2m), based on preliminary figures. Sales for the National Full-Range Stores (Rewe supermarkets and Toom hypermarkets in Germany) grew 6.4% over the previous year up to e14.5bn (£12.4bn). The Penny discounters in Germany lost 1.2% in ...
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News
Massmart H1 like-for-likes jump 7.3%
Retail and wholesale group Massmart - in which a 51% majority stake is expected to be acquired by Walmart by April this year - has announced a 13.3% sales increase for the first half of its current financial year. Sales rose to R27.37bn (£2.4bn) in the period to December 26, ...
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News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
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Safeway rakes up £366m net income after loss last year
Grocery chain Safeway reported net income for the fiscal year ended January 1, 2011 amounted to $590m (£366m), compared with a net loss of $1.1bn (£682.4m) reported last year. Sales for the full year edged up 0.5% to $41.05bn (£25.5bn). Excluding fuel, identical store sales declined 2% while like-for-like sales ...
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Gap Q4 net income up 4% last year
US Fashion retailer Gap has said that fourth-quarter net income rose nearly 4% in 2010 as a result of rising sales abroad, online and at its higher price Banana Republic and lower price Old Navy chains. The retailer reported quarterly net income of $365m (£226.4m). Like-for-like sales did not change. ...
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News
RadioShack net sales up 4.6% to $4.47bn
Consumer electronics retailer RadioShack has reported total net sales and operating revenues for the year ended December 31, 2010 up 4.6% to $4.47bn (£2.77bn), while net income increased 1.1% to $206m (£127.8m). The sales increase was driven by a 4.4% like-for-like sales increase in company-operated stores and kiosks, helped by ...
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News
Inditex to open online stores in Scandinavia
Spanish fashion retailer Inditex has announced it will open online stores for its flagship Zara brand in Scandinavia, as it moves further into the home market of Swedish rival H&M. The retailer also said it will open online stores in Switzerland and Monaco. The five new stores are due to ...
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News
Dansk total revenue up 3.5% to £6.7bn last year
Dansk Supermarked’s total revenue increased 3.5% to DKr59.3bn (£6.7bn) in 2010, while profit after tax amounted to DKr2.22bn (£254m). Turnover in Denmark rose 1.4% last year, and majority owner A P Møller-Mærsk Gruppen said the retailer increased its market share in groceries. Revenue outside Denmark experienced a growth of 8.3%, ...
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AnalysisThe cream of the online crop
Online recruitment processes streamline dealing with applications, Joanne Ellul discovers
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AnalysisWhat it’s like to work at Store Twenty One
The inside view from estates controller Douglas Sinclair
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NewsKaren Millen targets £500m sales as it splits off from Aurora
Karen Millen is aiming to double sales to £500m in the next five years after parent company Aurora Fashions revealed this week it will be spun off from the rest of the group.
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OpinionM&S machine cranks into gear
Marks & Spencer’s appointment of Inditex’s Russian boss Jan Heere as international director, and the poaching of Laura Wade-Gery from Tesco as ecommerce supremo, should benefit the retailer in subtle as well as obvious ways.
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OpinionIf Primark’s suffering, what about the rest?
Even during the worst of the recession, one thing that remained consistent was that Primark continued to power on as if nothing was wrong.
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GalleryFrasers: Northern star
Frasers, the Glaswegian House of Fraser flagship, has come to the end of revamping its ground floor. As John Ryan discovers, the results have been spectacular
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AnalysisThe start of a new era for Tesco
Phil Clarke has a hard act to follow succeeding Sir Terry Leahy. As he takes over the hottest seat in UK retail, Jennifer Creevy looks at the big issues he faces
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AnalysisCome buy with me at airports and rail concourses
Airports and rail concourses are being reinvented as retail destinations across the UK. Mark Faithfull looks at the retail opportunities as operators map out their new strategies
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AnalysisWalmart International makes up for domestic dip
Walmart has reported that net sales for the fiscal year ended January 31, 2011 increased 3.4% to $419bn (£259.9bn), while international sales grew 12.1% to $109bn (£67.6bn).
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OpinionFairtrade fans aren’t fair weather
Despite the recession people are sticking to their values and buying Fairtrade, says Mike Coupe