All articles by Planet Retail – Page 26
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Netflix signs multi-year distribution agreement
Netflix has signed a multi-year distribution agreement to bring TV shows and classic movies from Twentieth Century Fox to its streaming customers in Latin America. Terms of the agreement, due to commence in July, were not disclosed.The entertainment provider said customers in Latin America would gain access to all past ...
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Spar International’s partnership with Max Hypermarkets to end
Spar International’s partnership with Landmark Group’s Max Hypermarkets is to come to an end in December. Both companies are to pursue separate strategies to expand their retail presence across the country.A Spar spokesman said: “Spar now wishes to extend its footprint nationwide through new partnership arrangements with a range of ...
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Banana Republic may launch in Australia
Gap-owned fashion retailer Banana Republic may launch in Australia, it has been reported. Local operator Busbrand is in talks for the licence for the brand. “It’s early days but we’re very excited,” says Busbrand chief executive Andrew Bousie.Busbrands operates three Gap stores in Australia and as well as fashion chains ...
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Massmart appoints Guy Hayward as chief operating officer
Walmart-controlled Massmart has appointed Guy Hayward, chief financial officer since 2001, as chief operating officer. He reports to chief executive Grant Pattison. Group finance executive Ilan Zwarenstein succeeds Hayward as chief financial officer. Zwarenstein has also been appointed to the board and the Massmart executive committee.The retailer said Pattison would ...
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Seven & I to set up two holding companies
Convenience store operator Seven & I is to set up two holding companies to accelerate decision-making and new store openings.The subsidiaries are to be established by the end of the year and will be in charge of overseeing the convenience and supermarket operations.
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GameStop anticipates double-digit sales decline
GameStop has warned investors that it anticipates double-digit sales declines for its first quarter. The 12.5% like-for-like sales drop now forecast by the retailer backs up market research from NPD that shows four months of double-digit decreases for the sector.NPD estimates that in April sales of video game software in ...
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H&M draws criticism for featuring ‘super-tanned bodies’ in swimwear ad
Clothing retailer H&M drew criticism after featuring ‘super-tanned bodies’ in its new swimwear campaign. The ads – which portray brightly coloured swimwear on a heavily tanned model – caused media consternation in countries where the adverts are shown.A cancer awareness organisation in Switzerland claimed H&M’s adverts have undermined its own ...
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Carrefour’s bid to acquire Guyenne et Gascogne approved
Carrefour’s bid to acquire Guyenne et Gascogne has been approved by France’s antitrust agency. In December 2011, Carrefour submitted a E494m (£394.6m) cash takeover bid for its franchisee.Guyenne et Gascogne operates six Carrefour hypermarkets and 28 Carrefour Market supermarkets in France that generated net income of E25m (£20m) in 2011 ...
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Revenue increase for pharmacy retailer CVS
Pharmacy retailer CVS’s revenues increased 19.9% to $30.8bn (£19bn) for the three months ended March 31. Revenues in the retail pharmacy segment, which operates drugstores, rose 9.9% to $16bn (£9.8bn) while total same-store sales climbed 8.4% as pharmacy sales grew 9.8% and front-store sales increased 5.3% on a same-store basis.Revenues ...
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Best Buy chief marketing officer resigns
Consumer electronics specialist Best Buy has disclosed that chief marketing officer Barry Judge has resigned. Judge held the position since 2008 and is “leaving the company to explore the next chapter in his career”, Best Buy spokesman Greg Hitt said.The retailer declined to say who will replace Judge, stating that ...
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Amazon to open first logistics centre in Spain
Etail giant Amazon plans to open its first logistics centre in Spain. The new hub – expected to go live within a few months – will be in San Fernando de Henares, close to Madrid. The initiative is intended to service growing demand from Spanish customers shopping at Amazon.es, which ...
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Harvey Norman posts profit warning
Harvey Norman posted a profit warning following disappointing results in the first nine months of 2011. Unaudited preliminary accounts for the period indicate profit before tax of Aus$204.8m (£129m), a drop of 24.8% compared with the prior year period.The retailer said its technology categories continue to be affected by a ...
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Grocer Delhaize reports operating profit dip
Grocer Delhaize reported sales up 5.9% to E5.5bn (£4.48bn) for the first quarter of 2012 but underlying operating profit dropped 16.9% to E189m (£153.8m).In the US, sales were down 1.2% to $4.6bn (£2.84bn), corresponding to a dip of 0.6% in like-for-likes.At the end of March, Delhaize operated 1,541 shops in ...
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El Corte Inglés to expand new Supercor Exprés fascia
El Corte Inglés is to expand the new Supercor Exprés neighbourhood fascia by rebranding a number of Opencor convenience stores to the banner. The decision follows the recent integration of Supercor and Opencor fascias under one management team.The retailer has decided to rebrand around 10 Opencor stores in the Madrid ...
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Net sales at Metro rise
Metro’s net sales were up 2.2% to E15.6bn (£12.7bn) in its first-quarter ended March 31. In local currency, sales came in 2.6% above the prior year level. There was a calendar effect benefit but an EBIT loss of E9m (£7.3m) following a profit of E142m (£115.5m) in the prior year ...
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First-quarter sales increase for Publix
Grocer Publix’s first-quarter sales rose 4.2% to $7.1bn (£4.4bn), up from last year’s $6.8bn (£4.2bn). Like-for-like sales increased 3.3% while net earnings climbed 2.8% to $409.4m (£253m) compared with $398.2m (£246.2m) in the same period in 2011.Publix currently operates 1,051 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.
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Grocer Casino sells real estate stake
Grocer Casino has sold 9.8% of its stake in its real estate subsidiary Mercialys via an equity swap with French bank Crédit Agricole, generating E138m (£112.1m).It followed Casino’s disclosure in early February of its plans for Mercialys, in which the retailer would decrease its holding in the property company in ...
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X5 Retail Group appointed new format director
Grocer X5 Retail Group has appointed Frank Michael Mros as format director of discounter Pyaterochka. Mros has over 18 years of retail experience in Europe, previously serving as managing director of Schwarz Group-owned Lidl in Germany. He also led Lidl’s entry into Eastern Europe and was managing director of Lidl ...
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Safeway reports net income increase
Grocer Safeway reported net income for the first quarter ended March 24 increase to $81.6m (£50.2m) compared with $25.1m (£15.4m) in the same period last year.Total sales rose 2.4% to $10bn (£6.1bn), while like-for-like sales excluding fuel remained flat.Chairman and chief executive Steve Burd said: “Strong cost controls helped us ...
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Grocer Edeka posts sales growth rise
Grocer Edeka posted 4.7% sales growth to E45.6bn (£37.1bn) in 2011. The retailer’s 4,500 independent shopkeepers reported sales of E20bn (£16.3bn), up 8.8%. Its discount store fascia Netto’s turnover increased 3.3% to E10.7bn (£8.71bn).Edeka opened 244 new Netto stores to reach a total of 4,100. It also opened 190 stores ...