More on Me + Em – Page 2760
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NewsMarket wobbles but positive signs abound
The market was hit by a bout of nerves following the recent bull run and the FTSE 100 suffered its biggest loss of value in two months. General retailers performed slightly below the market but food groups, which have frequently been out of favour lately, remained almost flat.
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NewsRejected Nisa-Today’s suitor to rally support
Distribution group Bibby Line was expected to make moves to overturn convenience store buying group Nisa Today’s decision to reject its takeover bid last week, as Retail Week went to press.
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Carrefour reports larger than expected loss
Carrefour has reported a larger than expected €58m (£51.1m) loss in its first half, compared with a €747m (£655.7m) profit a year earlier.The grocer plans to spend as much as €600m (£528.8m) on discounts and marketing this year to improve sales in France. Revenue fell 1.6% in the first half ...
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Casino’s first-half net profits hit €231m
French grocer Casino’s first-half net profits hit €231m (£203.5m), up from €229m (£201.8m) in 2008, while operating profit fell 9.1% to €488m (£430m).The retailer now expects to have implemented a €1bn (£881.1m) asset disposal programme by the end of next year. It also plans to strengthen its appeal by developing ...
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Ikea intends to resume planning for expansion in Russia
Furniture giant Ikea has said that it intends to resume planning for expansion in Russia. The change of heart comes after the retailer won a two-year bureaucratic battle to open a mall in the southern city of Samara.Head of Ikea Russia Per Kaufmann believes that the main stumbling blocks are ...
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Lianhua records a 2.2% growth in turnover
China’s largest grocer, Lianhua, recorded a 2.2% growth in turnover to CNY10.98bn (£984.5m) in the first half of the year. However, the impact of the financial crisis and a slump in consumer goods prices meant that same-store sales fell 1.7%.Net profit was up 10% to CNY250m (£22.4m). The group continued ...
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Staples announces a 9% increase in sales
Office specialist Staples announced a 9% increase in sales to $5.5bn (£3.37bn) for its second quarter. In North America retail sales decreased 5% to $2bn (£1.23bn).Comparable store sales decreased 5% against 2008, reflecting declines in average order size and weakness in durable categories such as business machines and furniture. Internationally, ...
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Borders reports widening losses
Book retailer Borders reported widening losses of $12.7m (£7.8m) for its second quarter, compared with a loss of $10.5m (£6.4m) for the same period last year.Quarterly sales were $616.8m (£378.1m), down 17.7% from a year ago. Comparable store sales fell 17.9% and 10.8% at Borders superstores and Waldenbooks stores respectively.Chief ...
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Cencosud reports a 16% decrease in net sales
Grocery retailer Cencosud reported a 16% decrease in net sales to CLP1.24 trillion (£1.38bn) in its second quarter.The retailer was knocked by the financial crisis and adverse exchange rates in the international markets where it operates.Meanwhile, rival Falabella reported CLP832.8bn (£924.2m) sales for its second quarter, 7.8% lower than the ...
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Shoprite Holdings reports turnover jump
Shoprite Holdings reported that turnover for 2008/09 jumped 24.5% to ZAR59.32bn (£4.68bn), with a 28.1% lift in profits to ZAR2.94bn (£231.9m).Most divisions reported growth, with the notable exception of furniture, which suffered from reduced demand in the face of rising unemployment and high interest rates. The group’s supermarket division ...
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Australian Woolworths reports sales growth
Multi-sector retailer Woolworths – which operates supermarkets, pubs, and forecourt, liquor and electronics stores – reported group sales growth of 5.4% to AUS$49.59bn (£24.34bn) for 2008/09.Food and alcohol sales increased 9.6% to AUS$32.8bn (£16.9bn), with comparable sales rising 7.4%. New Zealand supermarket sales were up 3.9% on last year, while ...
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Woolworths-Lowe’s deal signals lift for Australia
Woolworths Australia this week announced plans to move into the DIY sector with a joint venture with Lowe’s, America’s second-largest home improvement chain.
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NewsPhones 4U's Theubar.co.uk is a virtual customer panel
Phones 4U last week revealed the uBar, a virtual customer panel that will target its core 16- to 24-year-old market. Similar to the MindBubble and New Look online research communities, the idea is that the site will be used to ask questions of the customers that get involved, but also ...
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NewsEntries open for Oracle Retail Week Awards 2010
The deadline for entries to the 2010 Oracle Retail Week Awards, the biggest event in the retail calendar has been extended to November 6.
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OpinionA good write-up
There’s been plenty of writing down of retail assets over the past year or two, but precious little writing up.
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OpinionNo fear of consumers cancelling Christmas
Goodbye, summer – now the serious business starts. The first week of September always has the feeling of starting a new term, and in retail it’s the most important one of the year as the four-month countdown to Christmas kicks off in earnest.
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OpinionLessons from the highly evolved
Species evolution has a lot to teach us when it comes to developing businesses, says Mark Price
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OpinionPreaching to the unconverted
There’s no doubt over the internet’s success as a retail channel. However, behind this success there are many factors that have changed over time, including the consumer.
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AnalysisShopfitters survey: Bumping along the bottom
It’s been a tough year and this year’s shopfitting league table shows how much the market has shrunk. But are things levelling out and are we seeing the new normal? John Ryan reports
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AnalysisShopfitters survey: Hoping for the best
Fearing the worst but ploughing ahead seems to be shopfitters’ default approach for surviving this recession. But is the optimism coming through in this year’s National Association of Shopfitters/Retail Week survey misplaced? John Ryan reports