All News articles – Page 1645
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News
US Borders narrows loses
Borders has reported a reduced loss in its first quarter, but sales at the bookseller continue to decline as consumers shifted to digital media offered by rivals.The net loss narrowed to $64.1m (£44.3m) in the three months to May 1, from $86m (£59.5m) a year earlier. Revenue dropped to $547.2m ...
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Costco Q3 sales up 12%
Costco has reported $17.4bn (£11.93bn) net sales for the third quarter, a 12% year-on-year increase.The results were driven by increased sales of fresh foods, clothing and homewares. Comparable sales for the quarter grew 10%, with a 6% rise at US stores and a 26% rise overseas. In constant currency terms ...
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Hornback full-year sales rise 3.7%
DIY retailer Hornbach has released its financial results for the year ended February 28, when sales rose 3.7% to €2.85bn (£2.42bn). EBIT fell 15.4% to €151.5m (£128.5m).In Germany, store sales increased 2.8%, and 1.8% on a like-for-like basis. Meanwhile, Hornbach’s international division grew 4.2%, although like-for-like sales contracted by 0.9%. ...
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Spar posts 5.5% global sales increase
Spar International posted a 5.5% global sales increase for 2009 to reach €28.5bn (£24.18bn).Spar Austria Group achieved sales up 3.2% to €11.3bn (£9.59bn), including shopping centres, while the UK notched up €3bn (£2.55bn), up 2% on 2008. Its South African operations posted strong year-on-year growth, with retail sales increasing 14% ...
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Gap to enter India
Gap has revived plans to enter the Indian market, according to the local press.Ron Young, senior vice-president of Gap International Strategic Alliances, was recently in the country, suggesting that the company is making preliminary moves to set up shop in India.Gap’s team has sounded out prominent Indian apparel makers including ...
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7-Eleven Australia to acquire Exxon Mobil petrol stations
7-Eleven Australia has confirmed it is to acquire all 295 petrol stations belonging to Exxon Mobil in the country.The deal comes after Exxon Mobil’s agreement to sell the petrol stations to Caltex Australia was blocked by antitrust regulators on competition grounds. The deal will see the number of 7-Eleven stores ...
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Carrefour China in talks for Baolongcang outlets
Carrefour China is in talks with local hypermarket operator Baolongcang to buy out its outlets, the local press has reported.Baolongcang has 14 hypermarkets in small cities in Hebei and Shandong province. It reported total sales of CNY3.16bn (£317.2m) in 2009.Wu-Mart and China Resources Enterprise are rumoured to also be interested ...
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Carrefour Poland to focus on franchise network
Carrefour Poland is to switch its focus from large developments in big towns to its franchise network.The retailer will expand its network of 330 sq ft to 1,310 sq ft franchise shops in housing estates in smaller towns, according to local press. Carrefour said that 50 to 60 such shops ...
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Toys R Us plans renewed float
Toys giant Toys R Us is set to become a public company again with plans to float for $800m (£548.6m).The retailer, which has 1,363 stores in 34 countries, including 75 in Britain, said it hopes to use some of the money raised to pay off a portion of its debt. ...
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Aldi to open first New York store
US German hard discount retailer Aldi Süd is planning to open its first New York City store at the Rego Park II shopping centre in Queens, in early 2011.Aldi Süd operates more than 1,000 stores in 31 states in the US, primarily from Kansas to the East Coast. Last year, ...
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NewsOFT clears Sports Direct stake in Blacks
The Office of Fair Trading (OFT) has ruled that Sports Direct’s shares in Blacks Leisure did not create any competition issues.
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NewsBlue Inc opens first store in Ireland
Men’s high street brand Blue Inc has opened its first store in Northern Ireland and expects to create over 100 jobs in the next 18 months.
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NewsSir Terry Leahy pockets £5.2m
Tesco chief executive Sir Terry Leahy was paid £5.2m in salary, bonus and shares last year.
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NewsSainsbury’s offers staff World Cup working hours
Sainsbury’s staff will be able to plan their shifts around “vital team matches” during the World Cup.
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NewsSelf-help measures drive Kingfisher quarterly profits rise
Improved gross margin and cost productivity helped DIY giant Kingfisher post a rise in first quarter profits despite a like-for-like sales fall.
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NewsNew West End Company partners with VisitBritain to increase West End tourism spend
The New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, has joined forces with VisitBritain to launch a campaign to lift UK visa restrictions in a bid to boost West End sales.
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NewsTheo Walcott axe delivers blow to M&S ad
A Marks and Spencer’s ad campaign suffered a blow when one of its stars, England striker Theo Walcott, was dropped from the England team.
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NewsTesco staff to receive record shares payout
Staff at Tesco will be rewarded today with their share of a £105m bonus pot in the grocery giant’s biggest ever shares scheme.
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NewsTopps Tiles profit falls in first half
Topps Tiles adjusted profit before tax and discontinued operations fell from £8.7m to £7.8m in the 27 weeks to April 3 as consumer confidence remains subdued.
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NewsNew Look profits climb 17.7%
New Look has reported strong growth in sales and profits for its full year to March 27 with underlying operating profits for the fashion group ahead 17.7% to £163m.