All News articles – Page 1694
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News
Government seeks control of Casino Group Venezuela operations
The Latin American country hopes to acquire majority control of Casino Group’s operations in Venezuela.President Hugo Chavez announced that negotiations, following the expropriation order he issued to Casino last month, have led to Casino offering to sell 80% of its shares in the corporation Cadena de Tiendas Venezolanas (Cativen).Casino operates ...
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Maxeda reviews fashion business
Dutch retail group Maxeda is conducting a strategic review of its fashion division that may result in a sale of the business.Maxeda, which comprises department stores Bijenkorf and Vroom & Dreesmann as well as fashion specialists Hunkemöller and M&S Mode, expects the review by JP Morgan and ING to be ...
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NewsBroker sees potential in undervalued Next
Earnings momentum and share buy-backs have created a buying opportunity in fashion group Next, broker Investec believes.
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Loblaw launches discount brands
Following a similar move by Tesco in the UK, grocer Loblaw - whose chief operating officer Dalton Philips has just been revealed as Marc Bolland’s replacement as chief executive of Morrisons in the UK - has launched a new line of discount brands in Canada.The range features category-specific brands such ...
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Books Etc gears up for online comeback
Books Etc will be resurrected next week as an online offer, after the brand and website was bought out of administration following the collapse of parent Borders UK last year.
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NewsB&Q sets out plan for blog-style tool to forge online community
B&Q plans to bolster customer interaction on its website in a bid to drive sales and develop its online community.
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NewsBhs to test water with store design makeover
Fashion group Arcadia will try out a new look for its department store chain Bhs in one store in May.
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NewsBershka unveils makeover of Oxford Street store
Inditex-owned fashion chain Bershka revealed the makeover of its Oxford Street flagship on Wednesday.
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January US retail sales beat expectations
January sales at US retailers beat analyst expectations, improving prospects for first-quarter economic growth.Commerce Department figures showed retail sales rose 0.5% as consumers stepped up spending not only on essential goods but luxury items as well.Stores specialising in electronics and appliances, sporting goods, hobby-related items, books and music all experienced ...
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NewsHolland & Barrett moves in on food to go with Suffolk opening
Holland & Barrett is to make a play for the food-to-go sector with the unveiling of a new-look store concept today.
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NewsAsda on a mission to take crown in non-food using etail and home
Asda is gunning to be the UK’s number one retailer in non-food in the next five years, and intends to hit its target by growing online and opening more Living stores.
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NewsLiberty dresses window with Alexander McQueen tribute
London department store Liberty dressed one of its windows in memory of fashion designer Alexander McQueen on Monday.
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NewsAustin Reed steadies after profit dive
Austin Reed has said business has stabilised since reporting group profit fell 37% to £3.2m in the year to January 31, 2009, as men sacrificed suit purchases in the recession.
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Lotte acquires GS stores
Local player Lotte Shopping has acquired the GS Mart hypermarkets and GS Square department store operations from GS Retail in South Korea.The deal, valued at about £700m, includes three department stores and 14 hypermarkets and will help Lotte Shopping close the gap on market leaders Shinsegae, which runs the E-mart ...
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International still the future for Abercrombie & Fitch
US fashion retailer Abercrombie & Fitch said that overseas expansion remains “the future” for its brands as global operations continued to prop up its struggling US arm.
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Fast Retailing to raise £6.9bn
Fast Retailing chairman and chief executive Tadashi Yanai has revealed the company plans to raise a ¥1 trillion (£6.9bn) war chest to back its bid to become the world’s leading global clothing retailer.He said that acquisitions would be necessary, particularly in the US and Europe, to reach that goal. “We ...
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Cencosud sales down 11% to £6bn
Chilean retail conglomerate Cencosud reported an 11% decrease in net sales to CLP5.33 trillion (£6bn) in 2009, while net profit dropped 38% compared with the previous year to CLP96bn (£108m).The retailer, which runs fascias including hypermarket chain Jumbo, attributed its drop in sales and profit to an unfavourable exchange rate, ...
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NewsAsda reveals 2010 plans after reporting Q4 like-for-likes up 4.6%
Asda has reported that comparable sales excluding fuel were up 6% for the full year and 4.6% in the fourth quarter.
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NewsAbercrombie & Fitch profits fall after ‘difficult’ year
Abercrombie & Fitch Co has recorded a 31% drop in net income to $47.5m (£30.1m) over the 13 weeks to January 30 while total sales fell 5% to $936m (£594m).
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NewsMarks & Spencer teams up with local authorities in recycling initiative
Marks & Spencer is to create recycling partnerships with four local authorities as part of its Plan A sustainability initiative.