All News articles – Page 1662
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News
JC Penney aims for £14.2bn sales by 2014
JC Penney has set new, five-year operational and financial targets to reflect a focus on driving profitable, top-line growth and expanding market share.By the end of its 2014 financial year, the retailer is aiming to increase total sales by more than $5bn (£3.1bn) to reach about $23bn (£14.2 bn).In the ...
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SuperValu sales down 8.9%
Grocery retailer SuperValu posted an 8.9% net sales decline to $40.6bn (£26bn) in the year ended February 27.Same-store sales declined 5.1%. However, net income rocketed to $393m (£252m) compared with a $2.9 bn (£1.6bn) loss last year.SuperValu chief executive and president Craig Herkert said the retailer expects net sales to ...
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D&S rolls out 600 new private-label products
Walmart’s Chilean division D&S has rolled out more than 600 new and reformulated private-label products, including the debut of Walmart’s Great Value private-label range in the country.According to D&S, the Walmart private-label range has been imported “to have a better range of products at a great price” in the food ...
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Pick ’n’ Pay sales up 9.8%
South Africa’s second largest grocery retailer Pick ‘n Pay reported sales growth of 9.8% to ZAR54.7bn (£4.2bn) in its financial year ended February 28.Trading profit for the year slid 2.5% to ZAR1.65bn (£145.5m), as margins were undermined by price cuts in basic foods. The retailer reported double-digit growth in fresh ...
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Wesfarmers sales up 4.9%
Sales at Wesfarmers’ grocery arm Coles rose 4.9% to Aus$6.91bn (£3.5bn) in the quarter to March 28. Meanwhile, its home improvement operations experienced a 7.9% jump in sales to Aus$1.54bn (£771m), while sales from its office supplies division rose 7.7% to Aus$390m (£195m).Sales at Coles’ department store chains Target and ...
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Fast Retailing plans 200 g.u. stores
Fashion retailer Fast Retailing has revealed plans to have opened 200 stores for its low-cost casualwear brand g.u. in Japan by 2013. The company - which owns Uniqlo - plans to open 25 shops, to bring its total number of stores to about 120, by the end of May. It ...
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Abercrombie & Fitch set to open Barcelona Hollister
US clothing retailer Abercrombie & Fitch is to launch its first store in Spain under the Hollister banner in Barcelona in July.The store will cover 5,380 sq ft and will be located in the La Maquinista shopping centre. Abercrombie & Fitch is expected to open four Hollister stores in the ...
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Metro posts a 5.2% increase in net income
Grocer Metro Inc posted a 5.2% increase in net income to C$80.3m (£47m) for the second quarter to March 13.Sales climbed 1.1% to C$2.6bn (£1.52bn) while same-store sales declined 0.7% due to deflation in certain product categories.The Canadian retailer launched its Metro & Me loyalty card in the Québec City ...
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Neiman Marcus testing new discount format
Department store operator Neiman Marcus is testing a new discount concept, according to US consumer fashion website Women’s Wear Daily.The 11,000 sq ft store, which opened this month in Dallas, offers designer brands such as Michael Kors, Badgley Mischka and Diane von Furstenberg, with prices ranging between $45 and $300 ...
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NewsBT Retail Week Technology Awards shortlist revealed
The 60-strong shortlist for this year’s BT Retail Week Technology Awards has been announced.
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NewsHome Retail pre-tax profits slip 11%
Home Retail Group – owner of Argos and Homebase – has reported pre-tax profit down 11% to £293m and announced a share buy-back of £150m.
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NewsCarpetright sales below expectations as it warns of tough year ahead
Carpetright like-for-likes in the UK & Ireland rose 1.5% in the 12 weeks to April 24, which was below internal expectations.
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NewsArgos to launch interactive TV buyers guide
Argos is to launch an interactive TV buyers’ guide on the web to take advantage of the expected increase in TV sales in the build-up to the World Cup.
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NewsAsda heralds ‘the official end of the grocery price war’ with price guarantee
Asda is putting its money where its mouth is with a guarantee that it offers shoppers lowest prices on groceries or will give them their money back, a step which it said “heralds the official end of the grocery price war”.
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NewsAsda lags behind the market
Asda is still under-performing the market with year-on-year growth well behind the growth of the other major retailers, according to Kantar Worldpanel.
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News
Retailers urged to shape Scottish cigarette display regulations
Retailers have the opportunity to shape Scotland’s cigarette display ban regulations following the publication of draft rules.
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NewsRetail sales up for the third consecutive month
Retail sales have grown for the third consecutive month with retailers expecting positive growth to continue in May, according to the CBI Distributive Trades Survey.
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NewsFarepak customers to receive less than £50 each
Customers who paid for Farepak hampers are expected to receive less than £50 each, after handling fees are paid.
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NewsFootwear supplier interested in rescuing Faith
Footwear supplier Logo 69 has emerged as an interested party in rescuing the Faith footwear business from administration.
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NewsN Brown to enter the US after a record year
N Brown has confirmed plans to enter the US later this year as total sales for the home shopping group grew 4.2% to £690m in the year to February 27.