All articles by Planet Retail – Page 29
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News
Ikea signs franchise agreement in Indonesia
Home furnishings retailer Ikea has signed a franchise agreement with the Indonesian publicly listed retail conglomerate PT Hero Supermarket. “Ikea gives rights and responsibilities to [Hero] to open and operate Ikea stores in Indonesia,” a statement to the Jakarta Stock Exchange revealed, without providing details on the investment value and ...
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PPR group trials new Fnac store concept
Luxury and retail group PPR is trialling a new Fnac store concept. While typical Fnac stores offer entertainment, electronics and media products – including audio-visual consumer electronics, CDs, DVDs, books and newspapers – the new concept is also stocking household appliances such as coffee makers and toasters as well as ...
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Rewe Group to convert Penny discount chain
Rewe Group is converting its ailing Penny discount chain to a new concept, akin to a supermarket with more brands, fewer non-food items and new management. Sales at converted stores have risen 10% to 20%. So far, 250 of about 2,400 Penny stores have been refurbished.At its supermarkets, Rewe plans ...
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Casino to take sole control of CBD
Supermarket operator Casino is recommending the removal of Galeries Lafayette chief executive Philippe Houze and Abilio Diniz, who controls leading Brazilian supermarket chain Companhia Brasileira de Distribuição (CBD), from its board of directors due to “ongoing conflicts”.Casino has said it will take sole control of CBD, ending the founding Diniz ...
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Food Lion to launch new brand strategy
Delhaize Group-owned Food Lion is to launch a new brand strategy in 268 stores throughout Virginia, West Virginia and North Carolina. The new approach includes lower prices on 6,000 items in stores while continuing to offer affordable private-label products.Food Lion expects to roll out the strategy to between 600 and ...
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Bershka unveils new concept store
Inditex-owned Bershka is to unveil its new concept store in Mataró Parc, northeast Spain, following the new format, which launched last year in Shibuya. The young fashion chain is using white instead of the trademark black throughout much of the store and has restructured the store into three departments: Bershka ...
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Pantaloon Retail in talks to acquire Big Apple stores
Future Group-owned Pantaloon Retail is in talks to acquire Express Retail Services-owned Big Apple’s stores. Big Apple operates 65 neighbourhood shops in Delhi. The takeover is expected to be valued at around INR2.5bn (£30.7m).Big Apple recently launched an online home delivery service – which is not part of the acquisition ...
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Inditex reports rise in net profit
Fashion retail group Inditex has reported a 12% rise in net profit to E1.93bn (£1.61bn) in 2011 from E1.73bn (£1.45bn) the previous year. Sales increased 10% to E13.79bn (£11.53bn) and like-for-likes were up 4%. The latter were stronger in the first half, growing 6%, and climbed 3% in the second ...
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Decrease in net sales for computer games retailer GameStop
Computer games retailer GameStop’s net sales fell 3% to $3.58bn (£2.25bn) for the fourth quarter ended January 28. Net income dropped to $174.7m (£109.6m) from $237.8m (£149.2m) a year earlier due to significant charges and lower sales. Like-for-like sales fell 3.6%. The retailer said it expected its 2012 results to ...
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Casino to take full control of Brazilian supermarket chain
French retailer Casino has started the process to take full control of Brazilian supermarket chain Companhia Brasileira de Distribuição SA (CBD). Casino said it had informed Abilio Diniz, head of the Diniz Group, which currently controls CBD, of its decision to exercise its right to appoint the chairman of the ...
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Walmart’s Japanese operation resumes new store openings
Walmart’s Japanese operation Seiyu is resuming new store openings for the first time in over four years. Four openings are scheduled for this year – in Tsukuba on March 28, Kawasaki in late April, Saitama in the summer and Fuchu in December. The retailer is looking for other properties, potentially ...
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Department store Galeries Lafayette reports sales increase
Department store operator Galeries Lafayette’s sales were up 4% and operating income rose 4.8% to E372m (£311m) in the 2011 financial year. Overall sales, including Monoprix, reached E5.58bn (£4.67bn) while consolidated sales, excluding concessions, totalled E4.96bn (£4.15bn).The results were largely down to the performance of the group’s flagship store on ...
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DIY retailer Hornbach reports sales increase
DIY retailer Hornbach, in which Kingfisher has a minority stake, has reported that preliminary sales rose 6.2% to E3.2bn (£2.67bn) for the year to February 29, 2012. DIY sales in Germany increased 5.4% to E1.73bn (£1.45bn), while like-for-likes were up 5.8%. International like-for-likes grew 1.6%, excluding currency effects, but fell ...
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QVC to enter Chinese market
US-based QVC plans to enter the Chinese market by acquiring a 49% stake in a joint venture with China National Radio’s home shopping TV channel, CNR Mall TV. The Chinese station reaches about 35 million households in the country and will hold the remaining 51% in the joint venture, which ...
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Neiman Marcus to expand into China
US-based luxury department store operator Neiman Marcus will expand into China by the end of 2012. It will invest $28m (£17.6m) in local ecommerce company Glamour Sales Holding, supporting its existing flash sales sites and building a new online business. Glamour Sales Holding was founded in 2009 and operates Glamour-sales.com.cn ...
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Drugstore operator CVS plans 25 Beauty 360 store closures
Drugstore operator CVS plans to close all 25 stores of its fledgling beauty business Beauty 360 by May 19. The Beauty 360 ecommerce business will also cease operations on the same date.CVS director of public relations Erin Pensa said the company “has made the decision to refocus our efforts on ...
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RadioShack signs franchise agreement with Berjaya Retail
US-based electronics retailer RadioShack has signed a master franchise agreement with Malaysian retail group Berjaya Retail to expand its footprint across 10 Southeast Asian countries.The companies said Berjaya expected to open at least 1,000 franchised RadioShack locations across the region within the next 10 years.The contract is RadioShack’s largest franchise ...
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Zara launches global concept store in New York
Inditex-owned clothing retailer Zara has launched a global concept store in New York with revamped architecture and a new interior design scheme.The store, at Fifth Avenue and 52nd Street, is the retailer’s largest in the US, comprising more than 32,300 sq ft spread over three floors.The store design emphasises simplicity ...
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Grocer Auchan plans offensive pricing strategy
Grocer Auchan plans to compete with rival Leclerc on pricing and promotions this year. The retailer will move towards an offensive pricing strategy throughout France, according to Auchan France managing director Vincent Mignot. The hypermarket format will remain the backbone of the retailer’s strategy.Auchan said 58 of its 120 French ...
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Grocer A&P completes financial restructuring
Grocer A&P has completed its financial restructuring and emerged from bankruptcy protection as a private company. It has obtained $490m (£308.3m) in financing from Yucaipa Cos – an investment vehicle for Burkle – Goldman Sachs Asset Management and Mount Kellett Capital Management an investor in distressed companies.According to the grocer, ...