All articles by Planet Retail – Page 39
-
News
Schlecker to close inefficient stores
Drugstore operator Schlecker plans to complete the closure of inefficient stores within the next five to six months as part of its strategy to return to profit by 2012.The retailer believes the move will cut out a 7% to 9% chunk of sales revenue that it regards as unprofitable. Schlecker ...
-
News
Carrefour-Marinopoulos appoints Jerome Loubere as managing director
Carrefour-Marinopoulos has appointed Jerome Loubere as its managing director to succeed Patrice Lespagnol, who was appointed last May.Loubere held the position between 2004 and 2008 but was then made general manager of the Marinopoulos Group in the Balkan region.The retailer believes Loubere’s experience and knowledge will help it to “better ...
-
News
99 Cents Only Stores reports sales increase
Discount retailer 99 Cents Only Stores has reported that sales for the second quarter ended October 1 rose 8.8% to $363m (£226m) compared with $334m (£208m) for the prior year period.Total retail sales were $352m (£220m) against $323m (£202m), while like-for-like sales increased 6.7%. The number of like-for-like sales transactions ...
-
News
Decrease in revenue at DIY retailer Praktiker
DIY retailer Praktiker has revealed revenues dropped 7% to E844m (£735m) for the third quarter ended September 30.Like-for-like sales were also down 7%, while revenues of the Praktiker banner in Germany fell 9%. However, its domestic Max Bahr banner reported revenues increased by 3%. International revenues continued to decline, particularly ...
-
News
Kesko appoints Arja Talma
Grocery and general merchandise retailer Kesko has appointed Arja Talma as president of Rautakesko and corporate management board member responsible for Kesko’s building and home improvement trade. Talma has been Kesko’s chief financial officer since 2005 after joining the company in 2004.Minna Kurunsaari has been named corporate management board member ...
-
News
Metro (Canada) enters into partnership agreement with Marché Adonis
Metro (Canada) has entered into a partnership agreement with Montreal ethnic food retailer Marché Adonis. Metro now holds a 55% stake in both Marché Adonis, which specialises in fresh and Mediterranean products and prepared meals, and its distributor sister company Phoenicia Products.Marché Adonis’ founders have retained a 45% interest and ...
-
News
Walmart to shut apparel office in New York
Walmart is to shut its apparel office in New York to reduce costs and concentrate on more basic clothing.The office has about 275 workers in areas including product development and buying. These functions will be transferred to Walmart’s home town of Bentonville, Arkansas by February next year.Walmart US chief executive ...
-
News
Casino-owned Exito reports net profit increase
Casino-owned Exito has reported net profit of COP58.8bn (£19.52m) in the third quarter, 59% more than the previous year.The grocery retailer’s operating profit increased 18.7% to COP74.5bn (£24.74m), while sales rose 15.6% to COP2.03trn (£1.01bn).Exito opened 36 new stores in the first nine months of the year, reaching a total ...
-
News
Mercator signs contract with Drvopromet to take over its trade business
Grocery retailer Mercator has signed a contract with Bosnia and Herzegovina-based Drvopromet to take over its trade business, securing 63 Drvopromet stores in a long-term lease. The agreement, which is based on strategic ties and is awaiting a green light from Bosnia and Herzegovina’s competition protection office, makes Mercator the ...
-
News
Walmart to roll back health care coverage
Walmart is significantly rolling back health care coverage for part-time workers while raising premiums for many full-time employees. All future staff who work less than an average of 24 hours per week will no longer qualify for any of the company’s health insurance plans.Additionally, new workers who average 24 to ...
-
News
Clicks Group announces preliminary financial results
Health and beauty retailer Clicks Group has announced its preliminary financial results for the year ended August 31. Group retail turnover increased by 10.9% to ZAR10.8bn (£847.5m). The core Clicks drugstore network reported sales up 13% with operating profit soaring 25.8%.Meanwhile, the Musica music and video store chain announced a ...
-
News
AS Watson plans store growth
Hong Kong-based AS Watson plans to add 30 Watsons stores to its network in Turkey during 2012, taking the total to over 100.The health and beauty retailer has built its presence to 68 stores since entering the market in March 2005. Country general manager Ahmet Yanikoglu said: “This year we ...
-
News
Gap opens first Polish store
US clothing retailer Gap has opened its first store in Poland in Warsaw with franchise partner Ultimate Fashion. The store is located in the Arkadia shopping mall. Gap is planning to open stores in other Polish cities in the country during 2012, including Katowice, Krakow and Wroclaw, and plans to ...
-
News
Alhokair Fashion Retail to expand into central Asia
Alhokair Fashion Retail, a Saudi Arabia-based retail conglomerate with over 80 international brands in its portfolio, is looking to expand into central Asia, according to reports.The company is looking to grow its business in Kazakhstan, Azerbaijan, Armenia, Belarus and Georgia. After a three-year period, the retailer is hoping to have ...
-
AnalysisSouth Africa’s Pick n Pay seeks to follow Tesco’s lead
South Africa’s second-largest grocery retailer Pick n Pay has launched a premium private-label line.
-
News
Media-Saturn to cut jobs at its headquarters
Metro Group-controlled Media-Saturn is to cut 61 of 139 jobs at its headquarters. The electronics retailer said the decision has been prompted by the economic crisis that has led to a drop in consumer confidence, the rise of internet sales and the cost structure of the headquarters.The retailer’s board is ...
-
News
Carrefour’s ELC speaks out against activist investor
Carrefour’s European Labour Committee (ELC) has spoken out against activist investor Knight Vinke’s proposal to elect a new chairman for the company.It claimed that the plan was aimed at dismantling the group. The ELC said that it wants “stability” and affirmed its support for the Carrefour Planet format, which it ...
-
News
Electronics retailer Komplett reports sales increase
Norwegian online electronics retailer Komplett has reported sales increased 3.7% to NOK1bn (£112.9m) for the third quarter ended September 30. Direct sales contributed the largest share with a rise of 3.5% to NOK706m (£79.72m). Although direct sales climbed 33.4% to NOK53m (£5.99m) in Denmark and 6.2% to NOK479m (£54m) in ...
-
News
Neiman Marcus looks to cater for the Chinese consumer market
Department store retailer Neiman Marcus has said it is looking to expand into the Chinese consumer market, initially looking to cater to Chinese residents who travel to the US.Neiman Marcus Stores executive vice-president Neva Hall said that the company is tapping the expertise gained by its staff in gateway cities ...
-
News
Metro Group plans new store openings
German retailer Metro Group says it plans to benefit from the sustained economic boom in Turkey with the opening of 24 new Metro Cash & Carry, Real, Media Markt and Saturn stores by the end of 2012. Speaking in Istanbul, Metro Cash & Carry and Real Group chief executive Joël ...