More on Me + Em – Page 2664
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NewsGunnar Sigurdsson defends Baugur
Former Baugur chief executive Gunnar Sigurdsson has defended the Icelandic investor’s strategy one year on from the group’s spectacular collapse.
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NewsBurst of retail activity sends shares soaring
Retail sector excitement including boardroom musical chairs and details of the first IPO in years added some excitement to stores’ share prices, which outperformed the market.
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Metro Canada sales increase
Metro Canada has announced that sales increased 1.7% to CAD2.65bn (£1.56bn) in the first quarter of the year. The rise was achieved despite a slight drop in basket value and tough comparatives last year, when high food price inflation and the temporary closing of several stores of a competitor had ...
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Aldi maintains profit in Germany
Despite massive price cuts and falling sales during 2009, Aldi managed to maintain its profit margins in Germany.According to German trade magazine Lebensmittel Zeitung, sales declined by around 3% to 4% for Aldi Nord and 1% to 2% for Aldi Süd, mainly due to 12 rounds of permanent price cuts ...
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Lotte Shopping gross sales increase
Department store and hypermarket operator Lotte Shopping has reported a 12.1% increase in gross sales to KRW3.4 trillion (£1.83bn) during its fourth quarter.Operating profit rose 22.2% to KRW260bn (£139.5m). Pre-tax profit was up 17.9% to KRW249bn (£133.6m).
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Retail sales down in Japan
Retail sales fell 0.3% in December from a year earlier, as consumers sought out cheap goods while employment conditions remained unstable.The figure declined for the 16th month in a row, data released by the Ministry of Economy, Trade and Industry showed. Sales at department stores, grocery stores and book stores ...
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Woolworths Australian sales up
Woolworths reported Aus$27.2bn (£15.17bn) sales for its first half ended January 3, a 6% increase (excluding petrol sales) on the same period last year.The company said its Australian food and liquor sales for the period were Aus$18.1bn (£10.1bn), a 6.8% increase. Woolworths chief executive Michael Luscombe said supermarkets achieved solid ...
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Pantaloon Retail reports profits
Pantaloon Retail reported INR500.7m (£6.8m) net profit for the second quarter ended December 2009, a 51.1% increase on the previous year.Income from operations stood at INR19.13bn (£258.9m), a 25.4% jump.
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Système U widens its network
Système U president Serge Papin told French trade magazine LSA that 2009 was one of the best years for the group, with the retailer adding 1.6 million sq ft to its network.Net sales were up 3.3% (excluding fuel) to E14.5bn (£12.66bn). Papin claimed that the company was the only retailer ...
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Supermarket sales up in Brazil
Supermarket sales in Brazil rose 5.5% in 2009 on the year before, according to the Brazilian Supermarket Association (ABRAS).The increase was attributed to the rising spending power of low-income groups in the country, which was bolstered by tax cuts on a range of products, including domestic appliances.ABRAS is expecting growth ...
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Venezuelan government might enter a partnership with casino
President Hugo Chavez said he is considering an offer for his government to enter a partnership with French retailer Casino, whose chain of Exito hypermarkets were expropriated earlier this month for allegedly exploiting a currency devaluation to raise prices.Chavez said representatives of the French group “calmly came to talk” with ...
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Macy's to cut 1,500 jobs
Department store operator Macy’s is to cut 1,500 store-level jobs, according to reports in the US press.The move comes as the retailer strives to improve efficiencies across the company. Remaining staff will undergo training to take on additional responsibilities.Macy’s spokesman Jim Sluzewski declined to confirm the number of redundancies, but ...
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NewsMarc Bolland’s M&S pay deal ‘signals autonomy’
Marc Bolland’s controversial £15m reward package as M&S chief executive will enable him to be independent from predecessor Sir Stuart Rose, who will remain chairman, analysts said this week.
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NewsHomebase takes on DIY rivals with revamped value offering
DIY retailer Homebase has this week launched a revamped budget range as it seeks to drive sales in the difficult economic climate.
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NewsAmazon hires new entertainment chief
Amazon has hired former head of Cdiscount.co.uk Andy Jones as had of its home entertainment arm in the UK as the etail giant’s sales and profits soar.
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NewsJohn Lewis named official retailer for 2012 Olympics
John Lewis has been named the official department store retailer of the London 2012 Olympic Games.
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NewsTM Lewin casts net wider with social networking
TM Lewin has added a social networking area to its website to try to reach new customers and bolster its international presence.
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NewsCarnaby Street on show in exhibition
Carnaby Street’s landlord Shaftesbury is staging an exhibition to celebrate the 50th anniversary of the famous London shopping destination.
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NewsWaitrose links with chefs for top-end line
Waitrose has this week launched a high-end range in collaboration with three top chefs as it seeks to reinforce its position as a food specialist.
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Latest Woolworths imitator tests fortunes
A Woolworths-inspired store called Wellworth It! will open at Ledbury in Herefordshire, in March.