All News articles – Page 1554
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NewsGaleries Lafayette progresses with move into China
French department store group Galeries Lafayette has reportedly entered a joint venture with fashion retail company IT to open stores in China, three years after the companies signed an informal agreement.
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NewsOFT hits out at misleading price promotions
The Office of Fair Trading (OFT) has sent a stark warning to retailers about misleading price promotion offers.
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NewsKingfisher profits up but B&Q sales down
Kingfisher has reported an 8.2% increase in third quarter profits, but like for like sales were down 4.2% in the UK.
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NewsJJB likely to breach banking covenants
JJB Sports has said it is likely it will breach its banking covenants as trading conditions have remained challenging and like-for-like sales remained below expectations.
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NewsFortnum & Mason records first profit in six years
Luxury department store Fortnum & Mason has recorded a profit for the first time in six years alongside record sales.
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KiK set to open 200 new stores each year in Europe
Tengelmann-owned clothing discounter KiK has said it plans to continue to open 200 new stores each year in Europe, with a mid-term aim of 4,000 stores. Its expansion remains focused on its German home market, where it sees potential for another 500 stores.The latest update comes as the retailer is ...
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PPR appoints Alexandre Bompard as CEO of Fnac
French luxury goods and retail group PPR has appointed Alexandre Bompard as new chief executive of its entertainment and electronics retailer Fnac.Bompard will replace Christophe Cuvillier who will soon take over new responsibilities within PPR. Previously, Bompard worked as chief executive of French radio station Europe 1. He will also ...
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Couche-Tard Q3 revenue up 5.6% to £961m
Convenience store chain Couche-Tard posted a 5.6% rise in revenues excluding fuel to $1.5bn (£961m) for the second quarter ended October 10. Like-for-like sales were up 4.9% in the US and 1.6% in Canada. Net earnings grew 19.7% to $105.6m (£68m). President and chief executive Alain Bouchard said: “The economic ...
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Online emerges as Black Friday's big winner
Online emerged as Black Friday’s big winner with ComScore reporting that ecommerce rose 9% year on year to reach $648m. Coremetrics recorded a rise in the number of people logging on to a retailer’s website from a mobile device, up to 5.6% from less than 1% last year. Meanwhile, data ...
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Venezuelan government to acquire 80.1% stake in Cativen
France-based retailer Casino has confirmed the government of Venezuela is to pay $690m (£444m) for an 80.1% stake in its local retailer Cativen, and that it has signed a partnership agreement with the government.As part of the agreement, Casino will retain 19.9% of the company and continue to provide operational ...
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Billa opens second convenience store in Innsbruck
Rewe Group’s Austrian supermarket division Billa has started rolling out its convenience store concept by opening the second Billa Box store in Innsbruck. The store covers just 540 sq ft, which compares with the 1,615 sq ft pilot store in Vienna, which was opened in November last year. Rewe plans ...
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Walmart set to acquire 51% of Massmart
Walmart has made a cash offer of R16.5bn (£1.48bn) to buy a controlling 51% of South Africa’s Massmart Holdings, its first foray into the growing retail market in sub-Saharan Africa. Massmart will remain listed in Johannesburg if the deal is completed, it said. “The more we learn about South Africa ...
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Alon Holdings Blue Square Q3 sales down 0.2%
Supermarket operator Alon Holdings Blue Square reported total sales down 0.2% to ILS1.92bn (£330m) in the third quarter ended September 30 as a result of a decrease in non-food revenue. This was partially offset by a 0.2% increase in like-for-like sales, compared with a 2.5% decline in the prior year ...
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Galeries Lafayette to open in China in 2013
French department store retailer Galeries Lafayette is to open its first location in China in 2013. The Beijing store will be operated as a 50:50 joint venture between Galeries Lafayette and the Hong Kong-based fashion retailer IT, which is investing HKD150m (£12m) in the project prior to its opening. According ...
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NewsArgos ad banned for misleading delivery claims
An Argos advert promoting its home delivery service has been banned by the Advertising Standards Authority for being misleading to potential customers.
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NewsHalfords trials selling salt
Car accessories and bikes retailer Halfords is trialling selling salt as the big freeze sets in.
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NewsHamleys blasted over penguin and reindeer show
Updated: Toy shop Hamleys has pulled its plans to have live penguins and reindeer in its famous Regent Street branch, after animal welfare experts and animal lovers reacted angrily to the news.
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New Look installs digital signage in Dublin flagship
New Look has implemented digital signage in its flagship in Dublin that opened last month to show customers the entire product offering in the store.