All News articles – Page 1354
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News
Pick n Pay reveals details of store rebranding scheme
Pick n Pay has revealed details of its store rebranding scheme in Zimbabwe, following the increase of its stake in TM Supermarkets.Seven out of approximately 40 TM stores will be rebranded as Pick n Pay with a total investment of approximately $13m (£8m) earmarked across the business for store operations.Head ...
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Metro Cash & Carry to invest in India
Metro Cash & Carry is to invest more than €100m (£84m) to strengthen its presence in India.At present, Metro operates nine stores at six locations in India –Bangalore, Hyderabad, Kolkata, Mumbai, Jalandhar and Ludhiana – and aims to increase the store number to 50 shortly. The retailer has so far ...
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Carrefour franchise partner to open new stores
Carrefour’s franchise partner Majid Al Futtaim plans to open 15 Carrefour hypermarkets and 30 supermarkets this year. Majid Al Futtaim chief executive Iyad Malas said: “We will complete the construction of two malls (Fujairah City Centre and Beirut City Centre) and expect to start construction in Cairo at our Mall ...
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NewsPoundstretcher scraps transactional website
Poundstretcher has axed its transactional website less than two years after it launched.
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NewsOcado plots 'agressive' marketing push
Ocado is to embark on an “aggressive” marketing plan over the next two years to increase shopper numbers.
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NewsDiscount grocer Ugo sold a year after launch
Discount grocery retailer Ugo has been acquired by an unnamed retailer.
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NewsGame to offload overseas operations
Entertainment group Game aims to offload overseas businesses as it seeks to stem widening losses in the face of a punishing games market.
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NewsTesco moves UK operations head Robbins
Tesco chief operating officer Bob Robbins will move roles within the business just three weeks after it was revealed he sold stock ahead of a profit warning.
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NewsMorrisons acquires meat processing facility
Morrisons has acquired a meat processing facility in Winsford, Cheshire from Vion UK.The 105,000 sq ft site is a centralised fresh pork and lamb packing plant which has the capacity to expand into beef products and increase its overall production.The acquisition will give Morrisons greater capacity as it continues to ...
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NewsAmazon full year profits plummet as it continues to invest
Online retail giant Amazon revealed a sharp drop in full year profits despite soaring sales.
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NewsHouse of Fraser to extend collaboration with Mary Portas
Self styled retail guru Mary Portas will launch four more Mary & House of Fraser shop-in-shops, continuing her collaboration with the UK department store group.
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NewsArgos appoints John Walden as managing director
Argos has appointed John Walden as its new managing director.
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News
H&M reports fouth quarter sales increase
H&M has reported its results for the fourth quarter and 2011. For the full year, H&M’s sales including VAT increased 8% in local currencies. However, sales in krona were hit by currency translation effects. Net sales reached SEK110bn (£10.4bn) while gross profit amounted to SEK66.15m (£6.2m), corresponding to a gross ...
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News
Hudson’s Bay completes Lord & Taylor acquisition
Department store operator Hudson’s Bay has completed the acquisition of its affiliate Lord & Taylor Holdings. Following the deal, Hudson’s Bay will run The Bay and Lord & Taylor banners. Richard Baker will remain governor and chief executive of the new partnership while Donald Watros continues as chief operating officer.Bonnie ...
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News
Sears cuts 400 jobs
Sears, the department store group, has cut about 400 jobs. The majority of the positions were in the head office and stores and excluded customer-facing staff. The lay-offs follow the December redundancies of about 70 head office staff. The retailer insisted it has no plans to close stores. Vice-president of ...
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NewsPeacocks receives six bids from potential buyers
Peacocks administrator KPMG has received six bids to buy the business, or parts of it, out of administration, Retail Week has learned.
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NewsSpecsavers successfully sues Asda for trademark infringement
Specsavers intends to claim damages following a legal win against Asda, after the grocer used the trademark ‘spec saver’ phrase in an optical advertising campaign.
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NewsTesco market share slips
Tesco’s grocery market share has dropped significantly in the face of fierce competition according to new figures from Kantar Worldpanel.
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NewsRetailers "lead the way" in resource efficiency
Retailers are “leading the way in improving resource efficiency while reducing environmental impact”, according to a British Retail Consortium (BRC) report.
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NewsConsumer confidence rises in January
Consumer confidence climbed four points to -29 in January’s Gfk NOP’s Consumer Confidence Index.