All articles by Planet Retail – Page 50
-
News
Gap Q4 net income up 4% last year
US Fashion retailer Gap has said that fourth-quarter net income rose nearly 4% in 2010 as a result of rising sales abroad, online and at its higher price Banana Republic and lower price Old Navy chains. The retailer reported quarterly net income of $365m (£226.4m). Like-for-like sales did not change. ...
-
News
RadioShack net sales up 4.6% to $4.47bn
Consumer electronics retailer RadioShack has reported total net sales and operating revenues for the year ended December 31, 2010 up 4.6% to $4.47bn (£2.77bn), while net income increased 1.1% to $206m (£127.8m). The sales increase was driven by a 4.4% like-for-like sales increase in company-operated stores and kiosks, helped by ...
-
News
Safeway rakes up £366m net income after loss last year
Grocery chain Safeway reported net income for the fiscal year ended January 1, 2011 amounted to $590m (£366m), compared with a net loss of $1.1bn (£682.4m) reported last year. Sales for the full year edged up 0.5% to $41.05bn (£25.5bn). Excluding fuel, identical store sales declined 2% while like-for-like sales ...
-
News
Dansk total revenue up 3.5% to £6.7bn last year
Dansk Supermarked’s total revenue increased 3.5% to DKr59.3bn (£6.7bn) in 2010, while profit after tax amounted to DKr2.22bn (£254m). Turnover in Denmark rose 1.4% last year, and majority owner A P Møller-Mærsk Gruppen said the retailer increased its market share in groceries. Revenue outside Denmark experienced a growth of 8.3%, ...
-
News
Woolworths to acquire The Cellarmasters Group from Archer Capital for £214.6m
Woolworths is to acquire The Cellarmasters Group from Archer Capital for AUS340m (£214.6m). Cellarmasters is one of Australia’s largest direct-to-home wine retailers and providers of contract bottling and wine services with operations in Australia and New Zealand. The business represents a complementary bolt-on to Woolworths’ existing liquor portfolio, which ...
-
News
Rewe Group net turnover up 4% for 2010 to £45.2m
Rewe Group increased its net turnover for 2010 by 4%, up to about e53bn (£45.2m), based on preliminary figures. Sales for the National Full-Range Stores (Rewe supermarkets and Toom hypermarkets in Germany) grew 6.4% over the previous year up to e14.5bn (£12.4bn). The Penny discounters in Germany lost 1.2% in ...
-
News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
-
News
Massmart H1 like-for-likes jump 7.3%
Retail and wholesale group Massmart - in which a 51% majority stake is expected to be acquired by Walmart by April this year - has announced a 13.3% sales increase for the first half of its current financial year. Sales rose to R27.37bn (£2.4bn) in the period to December 26, ...
-
News
Fressnapf turnover up 7.6% to £1.08bn
Pet care retailer Fressnapf has posted an annual turnover of €1.28bn (£1.08bn) for the 2010 fiscal year - an increase of 7.6% compared with the year before.Like-for-like sales grew by almost 2%. In its home market of Germany, Fressnapf posted a turnover of €874.7m (£736.9m), a 5.2% increase.In 10 other ...
-
News
ICA operating profuit up 7.8% to £281.3m
Ahold’s Scandinavian division ICA’s full-year operating profit reached SEK2.92bn (£281.3m) in 2010, an increase of 7.8% on 2009. The retailer’s net sales for the full year amounted to SEK93.86bn (£9.04bn), down 0.8%. At constant exchange rates net sales rose 0.9%.In 2011, ICA will “have a laser-like focus” on its disappointing ...
-
News
Borders files for bankruptcy protection
Borders has filed for bankruptcy protection, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, a Borders spokeswoman said. The company also ...
-
News
Build-A-Bear revenue up 1.4% to £247m
Toy retailer Build-A-Bear Workshop reported total revenues increased by 1.4% to $401.5m (£247m) in its 2010 fiscal year. Excluding the impact of foreign exchange, net retail sales increased 0.1%.Consolidated like-for-like sales declined 2%, which included a 1.2% decrease in North America and a 5.5% decrease in Europe.Net income for the ...
-
News
JC Penney to close underperforming stores
Mid-market department store retailer JC Penney has outlined plans to close underperforming stores, wind down its catalogue and outlet operations and consolidate its call centres.At the same time, the retailer announced that investor William Ackman will sit on the chain’s board. Ackman’s Pershing Square Capital Management along with Vornado have ...
-
News
Blockbuster faces eviction from dozens of US stores due to unpaid rent
Blockbuster reportedly faces eviction from dozens of US stores where it has not paid rent, adding to the bankrupt company’s troubles. According to local press, four landlords have asked a bankruptcy judge to order immediate rental payment for 38 of the company’s stores.
-
News
Woolworths H1 sales up 9.8%
Upmarket food and clothing retailer Woolworths reported group sales grew by 9.8% year-on-year in the first half ended December 26, 2010, along with positive margin development after more effective cost control. Pre-tax profit increased by 22.1% during the period. Food sales grew by 11.8%, while clothing sales were up 11.5%.In ...
-
News
Carrefour's Promocash to be rolled out to 20 stores this year
Carrefour’s new Promocash concept is to be rolled out to some 20 stores this year following successful trials in Lille, Macon and Rouen, it is understood.The new Promocash concept emphasises fresh food and the non-food product offer and has a modernised wine cellar.Promocash has also enhanced its ecommerce offer, which ...
-
News
PPR up 7.5% to £12.3bn
Luxury goods and retail company PPR reported total group revenue from continuing operations was up 7.5% to €14.6bn (£12.3bn) in the 2010 fiscal year, from €13.6bn (£11.5bn) in 2009.Recurring operating income was up 23.5% to €1.53bn (£1.29bn) from €1.24bn (£1.04bn) in 2009.
-
News
H&M considers entering Iceland
Sweden-based fashion retailer H&M is rumoured to be looking at entering Iceland, and has viewed potential outlets in the capital Reykjavik. Reykjavik city centre director Jakob Frimann Magnusson said he had spent much time sourcing suitable properties for the fashion chain. However, H&M has denied any fixed plans to establish ...
-
News
Canadian Tire Q4 sales up 2.4% to £1.96bn
Canadian Tire reported sales up 2.4% in the fourth quarter to C$3.1bn (£1.96bn), while net earnings rocketed 88.2% to C$181.1m (£114.6m). Sales at its Canadian Tire Retail division, which comprises mainly company-owned and operated stores, increased 0.5%. Like-for-like sales declined 0.4%. Adjusted earnings before taxes at Canadian Tire Retail soared ...