All articles by Planet Retail – Page 37
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News
Grocery retailer Shufersal posts third quarter results
Grocery retailer Shufersal posted results for the third quarter. Net profit plummeted 59% to ILS29m (£4.9m) from ILS71m (£12m) for the same period last year. Revenue was up 4% to ILS3bn (£509m).It also announced that chief executive Ephraim Rosenhaus would step down after more than eight years in the job. ...
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Foot Locker reports net income increase
Foot Locker reported that net income for the third quarter ended October 29 was $66m (£42m), up from $52m (£33m) for same period last year. Net sales were $1.39bn (£892m) compared with $1.28bn (£822m).Foot Locker chairman and chief executive Ken Hicks said: “I am pleased to report our seventh consecutive ...
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Gap launches flagship Hong Kong store
Gap has launched its first flagship in Hong Kong, the fashion retailer’s ninth store in Greater China. The shop spans more than 15,000 sq ft over four floors on Queen’s Road in Hong Kong’s Central District. In addition to Hong Kong, the company will open stores in Shanghai, Hangzhou and ...
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Lidl to open first Lithuanian store
Schwarz Group’s discount chain Lidl will open its first Lithuanian store in Alytus in the south of the country. According to reports, Lidl intends to open stores in Lithuania’s five biggest cities and every town of more than 20,000 inhabitants. In 2002, Lidl decided to open stores in Lithuania and ...
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KiK to open first Polish store
Tengelmann-controlled clothing discounter KiK aims to open its first store in Poland before the Euro 2012 football tournament takes place in Poland and Ukraine in June and July next year. The country, where Tengelmann already operates its Obi DIY banner, will serve as a test market for KiK’s further expansion ...
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Carrefour denies reports to replace chief executive
Carrefour denied reports that key shareholders plan to replace chief executive Lars Olofsson. It said in a statement: “The board of directors of the company formally denies all information published in the press on that subject.” It released the statement after Le Figaro reported that the shareholders were lining up ...
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Collective Brands reports net loss
Collective Brands reported a net loss of $114.3m (£73.4m) in its third quarter. Net sales were $894.4m (£574.2m), up 1.4% compared with the previous year. At Payless in the US, like-for-likes declined 3.7% while quarterly operating profit was $15.4m (£9.9m) compared with $68.8m (£44.2m) in 2010. Payless International net sales ...
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Net sales increase for Walmart
Walmart disclosed that net sales in its third quarter rose 8.2% to $109.5bn (£70bn). Operating income grew by 4.8% to $5.9bn (£3.77bn). Net sales at Walmart US increased 2.7% to $63.8bn (£41bn) while like-for-likes turned positive after nine consecutive quarters of declines. Meanwhile, Walmart International reported that net sales on ...
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Dollar Tree reports net sales increase
Discounter Dollar Tree has reported an 11.9% rise in consolidated net sales to $1.6bn (£1.02bn) for the third quarter ended October 30. Like-for-like sales increased 4.8%, following an 8.7% improvement for the third quarter in 2010. During the period, the retailer opened 98 stores, closed five and expanded or relocated ...
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Net income rise for Abercrombie & Fitch
Clothing retailer Abercrombie & Fitch’s third-quarter results showed net income rose by 2% to $50.9m (£32.5m) while revenue soared 22% to $1.08bn (£690.3m). Revenue from stores open at least one year climbed 7%, including gains of 4% at Abercrombie & Fitch, 6% at Abercrombie Kids and 8% at Hollister. The ...
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Discounter Dia cuts 2011 sales forecast
Spanish-based discounter Dia has cut its sales forecast for 2011 due to troubles in the “complicated” French retail market, where its nine-month like-for-likes fell nearly 7%. In 2010, France accounted for nearly 27% of Dia’s sales worldwide. The retailer, which was spun off by Carrefour last July, said it now ...
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Sales uplift for Sa Sa International
Beauty retailer Sa Sa International generated a sales uplift of 32.7% to HKD2.79bn (£226m) for the six months ended September 30. The performance benefited from a strong performance in Sa Sa’s core Hong Kong and Macau market, with like-for-like sales rising by 24.1%.The retailer said the increase was driven mainly ...
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Migros Ticaret reports net sales increase
Grocer Migros Ticaret has reported net sales of TRL4.25bn (£1.8bn) for the first nine months of 2011, up 10.5% on same period last year. After the sale of discount banner Sok to Turkey-based retailer Bizim in August, Migros has continued to successfully implement its new store opening strategy, which is ...
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Ikea plans fourth Russian store
Home furnishings retailer Ikea aims to at least double its store count in Moscow. The retailer is understood to be planning a fourth store that would be its largest in Russia to date. The project involves a 50-hectare shopping centre located in Mytishchi, just north of Moscow, and will be ...
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Sears reports decrease in total revenue
Retailer Sears has reported a 1.2% fall in total revenue to $9.6bn (£6.1bn) for the third quarter ended October 29. The decline was primarily the result of a 0.8% drop in domestic like-for-like sales and a 7.8% fall at Sears Canada. It was also the effect of having fewer Kmart ...
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Metro Group appoints new chief executive
Metro Group has appointed Olaf Koch as its new chief executive from January 1, 2012 and Franz Markus Haniel as new chairman of the supervisory board with immediate effect. Koch has served as chief financial officer of Metro Group since September 2009.Current chief executive Dr Eckhard Cordes said on October ...
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Ahold posts year-on-year sales increase
Ahold has posted year-on-year sales up 1.9% to e23bn (£19.7bn) in the first nine months of 2011. Operating income was e1bn (£861m), down 2.1%. The retailer achieved like-for-like sales growth across its operations in Europe and the US.Ahold chief executive Dick Boer said: “Customers remain cautious in their spending and ...
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US grocer Stop & Shop to unveil new concept store
Ahold-owned US grocer Stop & Shop will unveil a new concept store featuring a greater selection of products and innovative features in Massachusetts. The store has been designed to better serve the needs of the local community. New services include an in-store nutritionist, supervised children’s play area, roadside pick-up and ...
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Walmart launches apps for iPhone and iPad
Walmart has launched two new apps for the iPhone and iPad in its home market. The grocery and general merchandise retailer says they will enable “millions of customers to enjoy an enhanced, seamless shopping experience across Walmart’s 3,800 US stores and Walmart.com through mobile devices”.The apps are the first to ...
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Pantaloon posts financial results for first quarter
Future Group-owned clothing retailer Pantaloon has posted financial results for its first quarter ended September 2011.The company’s consolidated net sales were INR3,180.26 crore (£422.1m) compared with INR2,750.76 crore (£372.3m) in the comparable period last year, an increase of 15.61%.Consolidated net profit plummeted 36.33% to INR15.05 crore (£1.9m) in comparison with ...