More on Me + Em – Page 2660
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News
US multiples’ like-for-likes up 3.3%
Retail Metrics reported that its index of multiple retailers’ same-store sales figures rose 3.3% - higher than the 2.4% forecast and the fifth successive month of positive year-on-year sales growth shown by the index.During January high street retailers and department stores reported an increase in sales.Macy’s same-store sales climbed 3.4% ...
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Sales rise at LVMH’s Selective Distribution
LVMH has reported a 4% year-on-year rise in sales at its Selective Distribution business, which includes Sephora and DFS, its luxury duty free arm, to €4.38bn (£3.9bn).Profit from recurring operations was flat at €388m (£349m). LVMH said: “Sephora had a good year with further growth in revenue and profit from ...
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Mercadona to test Wincor Nixdorf automated checkout
Mercadona will be the first retailer to test Wincor Nixdorf’s new prototype of a fully automated checkout in the retailer’s laboratory later this month.According to Wincor Nixdorf, the new prototype for an automated checkout will for the first time make it possible to accurately read more than 95% of the ...
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Mobile phone retailer Svyaznoy to offer financial services
Local mobile phone retailer Svyaznoy is to offer financial services in its stores following the chain’s merger with Russian bank Promtorgbank. 100% of Svyaznoy securities and an 87% stake in Promtorgbank will be assigned to a new company. Svyaznoy owner and founder Maksim Nogotkov will retain a controlling stake in ...
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Carrefour likely to sell Moscow leasing rights
Carrefour is likely to sell its Moscow leasing rights to Auchan and OBI, according to Reuters.Carrefour, the world’s biggest retailer, has failed to find one single buyer for all of its three hypermarkets in Russia.
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News
Shoprite to sell Indian operations to Future Group
Shoprite is preparing to sell its operations in India to Future Group, according to unconfirmed reports in the local media.It has been rumoured that Future Group is ready to buy the Shoprite store in Mumbai, and take on the employees there.Shoprite has reportedly called off its franchisee deal with Indian ...
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News
Lowe’s opens first store in Mexico
US-based home improvement chain Lowe’s has opened its first store in Mexico, in the northern industrial city of Monterrey.The retailer has made a $100m (£61.6m) investment in the Latin American country and plans to open five stores in the Monterrey area over the next few years.
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News
Movie Gallery to close 805 stores
Film rental chain Movie Gallery plans to close 805 poorly performing US stores after falling sales and mounting losses led to its second bankruptcy in three years.The closures affect a third of the retailer’s 2,415 US stores and several thousand of the company’s 19,100 employees are likely to lose their ...
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News
Dollar General to open 600 stores this year
Fixed-price retailer Dollar General is gunning to open a further 600 stores over the next 12 months, creating about 5,000 jobs. The 5,000 anticipated new jobs come on the heels of about 4,000 jobs created by Dollar General in 2009, according to the retailer.Meanwhile, Dollar Tree reported record net sales ...
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News
HobbyCraft top target on Halfords acquisition list
A raft of potential buyers are circling HobbyCraft, including cycling and motoring accessories specialist Halfords and private equity house Isis, ahead of a February 26 deadline for first-round bids.
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NewsJane Norman sales revive after ‘disappointing’ year
EBITDA fell to £15.8m in the year to March 28, 2009, down from £29.5m the year before, according to accounts filed at Companies House. Sales were flat at £148.8m but heavy markdowns following what it described as a “disappointing” reaction to ranges in the second half of the year led ...
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NewsAnalyst opinion mixed as Ocado eyes spring flotation
Online grocer Ocado has moved a step closer to a potential IPO and is understood to be gearing up for a spring flotation.
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NewsMore retail deals on private equity’s radar
Renewed private equity activity and low retailer valuations raise the likelihood of another round of public-to-private deals, Oriel analysts believe.
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News
Matalan sale talks collapse as investors baulk at £1.5bn price
The sale of Matalan fell through on Wednesday after potential buyers failed to meet owner John Hargreaves’ price expectations.
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NewsThe Entertainer uses focus groups to help create new store format
Toy retailer The Entertainer has overhauled its branding and store format following customer analysis.
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NewsNext to anchor delayed Leeds scheme
Next has signed for an anchor store in the planned Trinity Leeds development, where it will open one of its largest shops.
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NewsPeacock Group back on form, says Richard Kirk
Peacock Group chief executive Richard Kirk said the group is expected to report a return to form in the year to March 2010 with EBITDA of £80m.
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NewsSuits You offers better terms to secure CVA
Suits You owner Speciality Retail Group’s proposed company voluntary arrangement is expected to be backed by landlords as the retailer attempts to offer more amenable terms than previous CVAs.
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AnalysisBest Buy could do worse than buy into Australia
While on the face of it an acquisition seems far fetched, Best Buy purchasing a top five player in a buoyant market wouldn’t be the craziest move.
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AnalysisRetailer partnerships will build Boots’ legacy
Boots sees partnerships with other retailers as key to its future growth. Three years on from Stefano Pessina’s takeover, Jennifer Creevy visits its Nottingham HQ