All News articles – Page 1160
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News
JCPenney unveils plans to enhance financial position
Troubled department store group JCPenney has unveiled plans to enhance its financial position, having burned through $10m (£6.56m) in the fiscal year ended February 2, prompting liquidity concerns. As part of the process, the retailer has drawn $850m (£556.7m) from its $1.85bn (£1.21bn) committed revolving credit facility. Proceeds will fund ...
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Discounter Lidl to invest in Portuguese stores
Schwarz Group-owned discounter Lidl is investing E45m (£38.5m) in Portugal this year in store refurbishments and improved infrastructure.Of the sum, E15m (£13m) will go into new headquarters in Sintra, construction of which will start in June. When completed next year, there will be a staff of 250 working in central ...
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NewsCompany profile: Beales
After several tough years the retailer’s new chief executive is trying to get sales moving.
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NewsInflation and weak wage growth to hold back retail sales in May
Retail sales growth is forecast to slow in May and remain lacklustre this summer as high inflation is expected to combine with weak wage growth to hold back spending.
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NewsFarmfoods reports profits rise despite sales dip
Frozen food specialist Farmfoods has reported a 10% increase in pre-tax profits to £27m despite a dip in turnover last year.
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NewsFormer Monsoon boss Peter Ridler exits Russian retailer
Peter Ridler, former Monsoon Accessorize boss, has returned to the UK after leaving Russian footwear retail giant CentrObuv after just six months.
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NewsAmazon tax petition handed to Downing Street
Amazon is under pressure to pay corporation tax as a petition, set up by independent bookshop owners, signed by 160,000 people was handed in to Number 10.
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NewsNon-food retailers look to cut staff during quarter
The only retailers intending to decrease staffing levels in the second quarter are in the non-food sector, as conditions remain tough outside of grocery.
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NewsMorrisons closes in on Ocado distribution deal
Morrisons is close to signing a distribution deal with online grocer Ocado in an attempt to kick-start its online assault.
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NewsDepartment store John Lewis puts services at heart of online offensive
Department store group John Lewis is to up the ante in the online battle with a push in services as it aims
to emulate its famous in-store customer experience at the ecommerce arm. -
News
H&M moves closer to Indian debut
H&M is moving closer to its Indian debut.Having consulted the Indian government, the value fashion retail giant is likely to propose an initial investment of around INR700 crore (£85m) in the country. H&M said it would comply with the investment rules for single-brand retailing, including the mandatory 30% local sourcing, ...
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Discounter Sok to buy Spanish retailer Dia's Turkish business
Discounter Sok has reached an agreement to buy all of Spanish retailer Dia’s business in Turkey for TRY320m (£116.1m).The transaction is subject to the approval of Turkish antitrust authorities.
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Delhaize Group's takeover bid of C Market on hold
Belgium-based grocer Delhaize Group’s talks with the Serbian government regarding a takeover of the latter’s stake in C Market stores are on hold.The reason given was that the authorities are investigating C Market’s original flotation on the Belgrade Stock Exchange in 2005 as part of a review of the sale ...
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NewsTesco opens Shoreditch offices for mobile app development
Tesco has opened an office in London’s trendy Shoreditch to house a team of mobile app developers.
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NewsThe Entertainer launches 90-minute deliveries
The Entertainer has today launched 90-minute deliveries after it signed a deal with rapid delivery solutions provider Shutl.
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NewsPrimark 'deeply shocked' by fatal Bangladesh building collapse
Value fashion giant Primark has expressed horror and pledged action following the collapse of a building in Bangladesh that housed a supplier to the retailer.
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NewsDixons debuts in Belgium with Knowhow branded stores
Dixons has debuted in Belgium with two travel stores in Brussels Airport under its Knowhow brand.
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NewsPrimark plans store launches in France this year
Primark aims to open two stores in France by the end of this financial year as it seeks to build on its success on the Continent.
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Amazon poised to launch services in Russia
US ecommerce giant Amazon is poised to launch its services in Russia, where it is opening an office.Amazon has reportedly hired Arkady Vitrouk, the former general director of publishing house Azbuka-Atticus, to head operations.It indicates the likelihood of Amazon initially entering the market with its Kindle ereader, as it did ...
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Rewe Group to invest in small online companies
Rewe Group is to invest in small online companies to gain ground in ecommerce.“We want to establish sort of a business incubator for start-ups,” chief executive Alain Caparros told business title Wirtschafts Woche. He said that Rewe may have underestimated the dynamics of online operations.Rewe also wants to extend its ...