All News articles – Page 1838
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NewsJJB Sports CVA hailed as ‘sea change’ in retailer-landlord relations
JJB Sports executive director Peter Williams said the approval of its company voluntary arrangement marks a “sea change” in the relationship between retailers and landlords.
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NewsNew Look to rival fashion giants as it aims to double trading space
New Look is aiming to double its trading space to over 7 million sq ft in the UK, putting it in the running to become Britain’s biggest fashion retailer by floor space.
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US retail ‘undertaker’ sets up shop in UK
US-based retail restructuring and liquidation giant GA Asset Advisors has arrived in the UK in expectation of continued turmoil in the stores sector.
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NewsM&S reduces multichannel shopping options
Marks & Spencer has terminated its in-store ordering and collection service and is instead asking shoppers to order goods online or over the phone for home delivery.
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NewsGrocers still in line for non-food growth
Supermarkets’ non-food sales growth has slackened but the grocers are still well positioned to steal share from traditional general merchandise rivals, according to a Mintel report.
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Interest in Woolworths Germany
Several parties have expressed an interest in Woolworths Germany after the retailer filed for insolvency last month.The department store group, which was backed by British investor Argyll Partners, has received interest from local parties as well as some foreign investors. Administrator Ottmar Hermann is said to be in talks with ...
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Firebox mulls more ranges to increase sales
Gadgets e-tailer Firebox intends to widen its reach as it expands ranges to attract new customers and lift sales.
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Refinancing package for Escada
Luxury fashion group Escada has arranged a E30m (£27m) refinancing package to help secure its survival. The company said it needed to raise the capital to cover liquidity demands and described the initiative as “urgent and unavoidable”.As well as raising funds, Escada plans to cut its debt and replace a ...
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LVMH denies sale of spirits division
LVMH, the world’s largest luxury goods retailer, revealed first-quarter same-store sales fell 7 per cent and denied reports that it is to sell its wine and spirits division Moët Hennessy.In the quarter to March 31, total sales were flat at E4.02bn (£3.61bn) after demand fell for alcohol, watches and jewellery, ...
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NewsUSC launches social networking site to engage with customers
The 40-store fashion chain USC has launched a social networking site and will air its first TV ad as it seeks to attract and engage more customers.
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Praktiker continues to suffer
Home improvement group Praktiker’s first-quarter losses widened from €20.8m (£18.7m) to €49.2m (£4.4m), and group sales dropped 8 per cent to €795.6m (£713.4m).The retailer said the performance was “materially attributable to its international business” as currency depreciation hit. However, Praktiker expects “adequate, positive EBITA” for the full year.Domestic sales in ...
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Irish government considers rent legislation to protect retail sector
Ireland’s Justice Minister Dermot Ahern has threatened to legislate against upwards-only rent reviews unless landlords take a “flexible and pragmatic approach” to helping retailers through the recession as the country suffers its worst retail sales slump for 25 years.
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NewsDebenhams to cut down concession space
Debenhams will reduce its concession space by 450,000 sq ft as sales from own-bought ranges drive performance.
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Coast follows in Karen Millen’s Russian footsteps
Aurora-owned fashion retailer Coast is to debut in Russia this autumn with a store in Moscow, and roll out to other Russian cities if successful.
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Wal-Mart payroll deal revised in China
Wal-Mart’s plans to reduce staff costs in China have stalled after trade union action.The Shenzhen Federation of Trade Unions has spoken to Wal-Mart, which has agreed to revise its plans to implement a payroll cut across 2,000 mid-level managers, who were being offered lower positions with less pay.The US giant ...
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Internet shopping soars in China
Online sales are soaring as shoppers in China turn to the internet as the recession deepens.According to Analysis International, e-commerce sales across the country rocketed 173 per cent year on year to Yn3.5bn (£350.1m) in the first quarter of 2009. Sales rose 24.1 per cent on the previous quarter as ...
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Ikea hires new chief executive
Ikea has promoted Mikael Ohlsson to chief executive of the furniture and homewares giant. He will replace Anders Dahlvig, who has been at the helm for 10 years.Ohlsson, who has worked at Ikea for 30 years, will take up the position on September 1. At present he is regional manager ...
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NewsDutch fashion player chases Piccadilly Circus site
Dutch fashion group The Sting is understood to be one of three retail names to have made offers on the iconic former Tower Records store at Piccadilly Circus.
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M&S treads cautiously in India
Marks & Spencer’s foray into the Indian market is being slowed by global economic turbulence and delays in the availability of commercial property in the country.Through a joint venture with Reliance Retail, M&S had planned to set up 50 stores across the country in the next five years. Chief executive ...
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Discount range at Carrefour
Carrefour has unveiled a new discount range that will be introduced across all of its chains in France and Belgium by the end of the month.The retailer hopes that the range will attract customers tightening their belts during the recession and help it compete with discount groups such as Aldi ...