More on Me + Em – Page 2773
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NewsRetail rally tails off as stocks underperform
The meteoric rise of the stores sector tailed away over the week and general retailers underperformed their food peers and the market.Of the biggest 10 retail stocks, eight were down, including Next and Kingfisher despite some bullish notes on both.The latest BRC sales data showed 1.8% like-for-like growth in July ...
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NewsEx-Dixons COO’s etail foray to sell art brands
David Gilbert, former chief operating officer of Dixons Group, now DSGi, has launched an etail venture to sell key products from more than 60 leading art institutions.
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NewsCurrys unveils a brand-building ad campaign
DSGi-owned electricals chain Currys has unveiled a brand-building ad campaign designed to bolster its reputation for service.
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NewsMilton Keynes signings trigger premium plans
The signing of three retailers to Thecentre:mk’s Silbury Arcade in Milton Keynes has kick-started plans for a high-end quarter at the centre.
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Retail Sales fall again in US
Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...
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Tengelmann to overhaul Kaiser’s Tengelmann supermarket network
Retail conglomerate Tengelmann is preparing to overhaul its German Kaiser’s Tengelmann supermarket network and is considering selling some of the stores in order to lift the network’s profitability, according to local trade press.The chain consists of about 710 stores nationwide, but the review is expected to focus on trimming its ...
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Yamada Denki and Kojima announce results
Fortunes were mixed in Japan as consumer electronics giants Yamada Denki and Kojima announced their results for the first quarter ending June 30.Revenue at Yamada Denki rose by just over ¥6bn (£38m) to reach ¥430.68bn (£2.7bn) for the quarter. Despite the rise in revenue, the retailer reported a slide in ...
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Finlay Enterprises has filed for Chapter 11 bankruptcy protection
Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...
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Argentina: Retailers’ sales suffer
Retailers suffered the worst sales month this year in July, according to the Argentine Confederation of Medium-sized Companies. July retail sales fell 16.1% on a year-on-year basis as shoppers, already downbeat from the recession, stayed away from stores and other public places due to concern about swine flu.Argentina has seen ...
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Delhaize Group posts revenue rise
Grocer Delhaize Group posted revenues of €10.2bn (£8.74bn) for the first half of the year, representing a 13.8% rise over the same period last year.With the group’s largest market being the US, sales growth was largely attributable to a strengthening of the US dollar against the euro. Nevertheless, the result ...
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Auchan signs revolving credit facility
Food and general merchandise retailer Auchan has signed an €800m (£686m) revolving credit facility with a syndicate of international banks, according to local press.The transaction raised a total of €1.3bn (£1.1bn) in syndication and was subsequently increased from the launch amount of €400m (£343m).The transaction was led by Banco Santander, ...
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Otto apologises for wrongly priced goods
Mail order and online retailer Otto has apologised to customers after more than 6,500 orders were placed for laptops at massively discounted prices, owing to a pricing error on its website.A variety of laptops, including MacBooks, worth up to e2,000 (£1,714) were advertised at between e30 and e50 (£25.60 and ...
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Williams-Sonoma signs franchise agreement with MH Alshaya Co
San Francisco-based home furnishings and kitchen equipment retailer Williams-Sonoma has signed a franchise agreement with MH Alshaya Co covering the Middle East region. The partnership is expected to open its first four stores under the Pottery Barn and Pottery Barn Kids banners in Dubai and Kuwait next year.The move marks ...
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NewsHotter.com sells shoes for the 'active over-50s' market
From its name, you’d be forgiven for thinking it is one of the many adult sites that are widespread on the internet. Actually it sells shoes for the “active over-50s” market.
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OpinionHome comforts
There are new signs of bounce in the hard-pressed homewares and furniture market, on which the springs went more than a year ago.
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OpinionTories should not take VAT hike lightly
With the public finances in such a chaotic state it’s no wonder the Tories are reportedly considering increasing VAT to 20% if they come to power.
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OpinionDon’t become a closed shop
Those without a retail background still have plenty of nous to bring to the sector, says Neil Gillis.
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OpinionSwine flu crisis planning is in hand
The BRC’s been planning for a possible pandemic as long as London’s been preparing to host the 2012 Olympics.
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GalleryStore of the week: John Lewis Foodhall Bluewater
The John Lewis/Waitrose Foodhall at John Lewis Bluewater has now been up and running for two weeks. At 16,500 sq ft, it is around a third larger than the Oxford Street format on which it has been modelled and is now the biggest food collaboration between the two retailers that ...
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GalleryRobert Dyas: Playing hard ball with hardware
Following Robert Dyas’s management buyout the hardware retailer wants to declutter its stores. John Ryan visits the Maidenhead test bed