All News articles – Page 1755
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News
Rewe Group to acquire Coop Germany’s Sky supermarket network in the south
Retail conglomerate Rewe Group is to acquire Coop Germany’s Sky supermarket network in the south of the country, comprising 39 Sky stores as well as a warehouse and office premises in Ulm.The acquisition sees Rewe strengthen its presence in Baden-Württemberg and Bavaria. The Sky stores generate around E150m (£137.8m) of ...
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Seven & I will take over about 80 kiosks at Keihin Electric Express Railway’s train stations
Seven & I, which operates the 7-Eleven chain, has said it will take over about 80 kiosks at Keihin Electric Express Railway’s train stations.This is the first time that 7-Eleven Japan will open stores in train stations. Rivals Lawson and FamilyMart already have business alliances with Tokyu and Siebu Railways, ...
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EIB has approved a loan of €47m to help Metro Group set up five cash and carries in Vietnam
The European Investment Bank (EIB) in Luxembourg has approved a loan of €47m (£43.1m) to help Metro Group in Vietnam set up five cash and carries in Bien Hoa, Binh Duong, Nha Trang, Long Xuyen and Quy Nhon.The loan was issued following the European Union’s strategy in Asia to help ...
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Pantaloon Retail reported total group income rose 31%
India-based Pantaloon Retail reported total group income rose 31% to INR76.69bn (£1.01bn) in its financial results for the year ended June 30.Net profit after minority interest declined sharply from INR219.3m (£2.9m) in the previous year to INR100.7m (£1.3m). The group is expecting to achieve 35% to 40% sales growth during ...
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Walgreens has posted record figures for the year ended August 31
Drugstore chain Walgreens has posted record figures for the year ended August 31, with sales rising 7.3% to reach $63.3bn (£39.76bn).Net earnings for 2008/09 were $2.01bn (£1.26bn) reflecting a 7% decrease from the previous year.The retailer, famed for its rapid expansion, now wants to slow the pace of store openings. ...
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Fast Retailing reports like-for-like sales increase by 31.6%
Fast Retailing, operator of the Uniqlo clothing retailer, reported like-for-like sales increased by 31.6% year on year in September. Total sales climbed 41.5%.The company attributed the growth to cool temperatures throughout the month, which kept sales of autumn and winter goods strong. Also, an extra day of national holiday during ...
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NewsRetailers’ self-help initiatives to stave off gloom until 2011
Retail profitability may “surprise on the upside” next year but 2011 will be a “crunch year”, according to sector-wide analysis by brokers.
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Wal-Mart plans to offer more than 100 toys at £6 over Christmas
Wal-Mart is planning to offer more than 100 toys at $10 (£6) during the festive season.Last year, the grocery giant offered just 10 toys at that price point. The retailer will also, up until Christmas, match any local competitor’s advertised offer on the same toy product if it falls below ...
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NewsLand Securities retail venture to bring 10 overseas brands to UK
Property company Land Securities’ new retail offshoot Brand Empire is in talks with 10 international retailers about introducing them to the UK.
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NewsInterest rates held at 0.5%
Interest rates have been held at 0.5% for the seventh month in a row.
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NewsEuropean Commission reportedly proposes footwear anti-dumping extension
The European Commission is reportedly proposing an extension to the anti-dumping duties on EU imports of Chinese and Vietnamese leather footwear for at least 15 months.
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NewsTed Baker pre-tax profits down 18.4%, but UK arm remains strong
Ted Baker has reported a better than expected 18.4% drop in pre-tax profit in its interim results to £6m, buoyed by the performance of its UK arm.
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NewsCarphone reports "commendable" second quarter
Carphone Warehouse’s retail division, Best Buy Europe, reported that connections rose by 2% to 3.17m in the second quarter.
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NewsHalfords like-for-likes up 2.2%
Halfords has reported like-for-like sales are up 2.2% in its second quarter and said it is confident it will deliver further profit growth in the second quarter.
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NewsAmazon cancels Royal Mail contract
Online retailer Amazon has reportedly cancelled its contract for certain items with Royal Mail after continued strike action threatens its pre-Christmas deliveries.
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NewsProperty chiefs slam CVAs
Property industry chiefs including Westfield’s Peter Miller have slammed Company Voluntary Arrangements and plans to introduce Chapter 11 style bankruptcy protection for UK companies.
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NewsRetailer wanted to run London 2012 stores
Retailers are being invited to tender for a contact to operate London 2012 stores in the run-up to the Olympics.
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NewsShop prices continue to fall
Shop prices have fallen on a year ago and were deflationary for the second consecutive month, according to the British Retail Consortium-Nielsen Shop Price Index.
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NewsAmazon launches Kindle internationally
Amazon has launched its Kindle worldwide for the first time making its popular e-reader available in over 100 countries.
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NewsDunelm founder sells 8% stake
Updated: Dunelm founder and life president Bill Adderley has sold a 7.8% stake in the company.