All News articles – Page 1587
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News
Couche-Tard reaches agreement with FTC over tender offer for Casey's General Stores
Convenience store operator Couche-Tard has reached an agreement in principle with the US Federal Trade Commission (FTC) in connection with its tender offer for Iowa-based Casey’s General Stores in the US. The agreement would permit Couche-Tard to acquire Casey’s, subject to the divestiture of certain convenience stores and service ...
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Rite Aid records 2.5% revenue increase in Q2 to £4.2bn
Drugstore retailer Rite Aid has reported revenues rose 2.5% in the second quarter to $6.2bn (£4.2bn). Like-for-like sales decreased 0.9% in the front end and 1.8% in the pharmacy business. Net loss was $197m (£134m), compared with last year’s second-quarter net loss of $116m (£74m), which was partly attributable to ...
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Ulta reports 17.6% sales increase to £219m
Beauty retailer Ulta has reported net sales increased 17.6% to $322m (£219m) for the second quarter ended July 31, 2010. Like-for-like sales increased 10.8% and net income increased 127.2% to $13.1m (£8.9m). Ulta chief executive Lyn Kirby said: “The results include a 10.8% like-for-like sales increase for the quarter, generated ...
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Blockbuster files for bankruptcy
Blockbuster in the US has filed for Chapter 11 bankruptcy protection after mounting losses, rising debt and stiff competition from retailers that have better catered to consumers’ evolving media habits.Blockbuster said business would continue as usual at its 3,000 US stores, but added it would evaluate the profitability of its ...
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Target to try smaller format store and expand outside general merchandise market
General merchandise retailer Target plans to open a new, smaller-format store in Seattle in 2012 and has plans to expand in 10 further markets, including San Francisco and Baltimore, in the next few years.The new store will cover about 90,000 sq ft, while its other urban concept stores will range ...
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Carrefour to refurbish Italian and Spanish hypermarkets to Carrefour Planet next year
Carrefour will begin refurbishing its Italian and Spanish hypermarkets to its new Carrefour Planet concept during 2011. In Spain, 75 of its 164 hypermarkets will be converted. The remaining 89 stores will receive a lower specification upgrade. In Italy, 23 of Carrefour’s 53 hypermarkets will be converted to Carrefour Planet ...
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NewsUnited Carpets reports "challenging" first half
United Carpets said trading has been “challenging” in the 25 weeks to September 30 as like-for-likes dropped 5.5%.
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NewsTesco guns for £55m Halloween sales
Tesco is gunning for its biggest ever Halloween with expected sales to top £55m.
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NewsHouse of Fraser launches two day Sale
House of Fraser has launched a two day event with 25% off brands.
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NewsForever 21 to make UK debut in November
US fashion giant Forever 21 is to open its first UK store in Birmingham’s Bull Ring on November 12.
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NewsWaitrose set for Duchy Originals US launch
Upmarket grocer Waitrose is to make its first foray into the US as it discusses selling its Duchy Originals range through retailers in the country.
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NewsJJB Sports funding concern prompts big broker downgrade
Broker Singer has slashed its price target for JJB Sports by more than a third to just 8p because of concerns about the retailer’s funding and punishing trading conditions.
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NewsConsumer confidence dips in September
Consumer confidence dropped two points to -20 in September, according to GfK NOP’s Consumer Confidence Index.
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NewsBest Buy Europe implements customer feedback system in Phone House stores
Best Buy Europe has extended its use of a customer feedback system to its 1,600 Phone House stores, after seeing the benefits in its Carphone Warehouse business in the UK.
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PTT withdraws bid for Carrefour's Thai assets
Local energy giant PTT has reportedly withdrawn a bid for Carrefour’s Thai assets. Thailand’s largest energy company by revenue apparently faced opposition to the bid from “important stakeholders”, prompting it to ask its subsidiary, PTT Retail Management, not to participate, the company said in a statement.
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NewsMatalan chief executive Alistair McGeorge to stand down
Matalan chief executive Alistair McGeorge is to stand down and other boardroom changes are expected at the value retail giant.
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Matahari to accelerate hypermarket expansion
Retailer Matahari will aggressively grow its hypermart banner, parent company MPP announced. “We currently have 50 hypermart stores in Indonesia and will accelerate the expansion from seven stores per year to 10 to 15 stores,” said a spokesman.The existing hypermart formats will be upgraded and IT infrastructure strengthened in order ...
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Costco to invest £23m in its Australian business
US-based warehouse club operator Costco is investing Aus$40m (£23m) in its Australian business this year. The investment comes on top of last year’s Aus$100m (£58m) capital expenditure in the country, when it opened its first store in Melbourne. A second store is due to open in Auburn and another is ...
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NewsSignet appoints new chief executive
Jewellery giant Signet has appointed the president of watch brand Fossil as its new chief executive.