More on Me + Em – Page 3184
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Home Retail: The City View
Interim group profits at the general merchandise and DIY retailer soared 40 per cent to 149.8 million on sales up 3 per cent to 2.74 billion, powered by Argos.
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Poundland unveils plan for international debut
Discount retailer Poundland plans to launch overseas as it expands rapidly in the UK.
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Mothercare sales skyrocket as ELC deal begins to bear fruit
Mothercare’s acquisition of Early Learning Centre (ELC) helped push group sales up 38.3 per cent in the 13 weeks to October 13, exceeding City expectations.
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Flying Brands profits hit but expansion continues
Home shopping retailer Flying Brands is to push ahead with global expansion, despite issuing a profit warning this week.
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Kingfisher and DSGi shares drop as Debenhams revives fortunes
A swathe of updates, deal gossip and big swings in share prices characterised the week.
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Sainsbury’s hires buying director for clothes as it steps up non-food drive
Sainsbury’s has promoted a long-serving consultant to the strategically important role of buying and merchandising director for clothing as it seeks to push its non-food sales.
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Whole Foods bags property chief from Bank
US grocer Whole Foods Market has confirmed its commitment to the UK by hiring Bank Fashion property director Nina Shores to spearhead its expansion.
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Target on course to go nationwide in the US
Target is to open a raft of shops that will secure its presence across all 50 US states.
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JJB and Sports Direct to give Nike/Umbro deal thumbs up
Sports Direct and JJB Sports are expected to sanction Nike’s 285 million takeover of global football brand Umbro.
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Timberland trials new store format
Timberland is testing a new smaller store format, called Footwear Plus, on the King’s Road in London.
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Waitrose to slash prices by £20m in price feud
Waitrose managing director Mark Price has vowed to add a further 20 million of price cuts this year, matching roll-backs in the first half.
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Morrisons executive director to make exit
Morrisons executive director Roger Owen will retire from the supermarket group in October next year. His retirement will coincide with his 60th birthday.
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Groundbreaking green store to debut in London
An eco-department store is understood to have received 2 million backing to open in London’s East-end next year.
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Tesco electricals boss becomes latest to leave
Tesco’s electricals chief is the latest senior executive to head for the exit, following a string of departures this month.
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Reliance to spin off Fresh chain as it chases alliances
Indian giant Reliance Retail is understood to intend to hive off its grocery fascia Reliance Fresh as it focuses on joint ventures to drive growth.
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Comptoir des Cotonniers accelerates UK growth
French womenswear retailer Comptoir des Cotonniers is ramping up its expansion in the UK and plans to open 30 outlets by 2010.
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House of Fraser slashes debt
House of Fraser dramatically cut its net debt in the few months following its acquisition by a Baugur-led consortium in November last year.
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Retailers are braced for bumper Halloween as adults drive sales
Stores are expected to enjoy a record Halloween this year, partly driven by adults splashing out on themselves.
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Morrisons posts jump in profits
Morrisons posts a sharp jump in profits, but analyst warn on sales growth
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Arcadia posts increase in profits and sales
Sir Philip Green’s Arcadia fashion group has posted a small increase in like-for-like sales and operating profits for the year to September 1.