All articles by Planet Retail – Page 53
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Aeon to expand My Basket neighbourhood stores to 1,000 shops by 2013
Retail giant Aeon plans to expand the number of My Basket neighbourhood stores to about 1,000 shops by 2013. Most stores are expected to open in Tokyo.My Basket was launched in December 2005 and, although the average size of 1,615 sq ft is only slightly larger than typical convenience stores, ...
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Best Denki sales increase 0.8% to £1.9bn
Sales at consumer electronics retailer Best Denki increased 0.8% to ¥253.3bn (£1.9bn) in the nine months ended November 30, 2010.Operating profit was ¥4.8bn (£36.5m) compared with an operating loss of ¥3.8bn (£26m) in the same period the previous year. Net profit was ¥896m (£6.5m) compared with a net loss of ...
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Ikea profit rises 6.1% to £2.3bn
Ikea has reported that net profit for the year ended August 30, 2010 rose 6.1% to €2.69bn (£2.3bn). Sales soared 7.7% to €23.1bn (£19.3bn).Ikea said sales grew in almost all countries but highlighted China, Russia and Portugal as showing the strongest increases. Ikea group president and chief executive Mikael Ohlsson ...
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Gap's Athleta opens store in San Francisco
Gap’s Athleta brand, which was until now only available through Gap’s online platform, has opened its first retail location in San Francisco.The store offers Athleta’s collection of women’s active lifestyle apparel for yoga, running, swimming, the gym, hiking and skiing alongside other sportswear. Custom-made mannequins moulded from the body of ...
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Falabella to invest £2.3bn to open 215 new stores and 16 new shopping centres
Department store and DIY retailer Falabella is accelerating its growth plans and now aims to invest $3.51bn (£2.3bn) between 2011 and 2015 to open 215 new stores and 16 new shopping centres.The retailer, which opened 27 new stores and three new shopping centres last year, previously expected to invest $2.57bn ...
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Ahold to open first store in Belgium
Dutch grocery retailer Ahold is going to open its first store in Belgium in March.The store in Brasschaat, located north of Antwerp and less than 10 kilometres from the Dutch border, will be franchise-owned by Nathalie and Marco Van Ende and supplied by the existing Albert Heijn warehouse in Tilburg, ...
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Carrefour considers JV with Future Group in India
French retailer Carrefour may announce plans for a joint venture with Future Group in India soon, as chief executive Lars Olofsson is expected to visit India later this month or early February.The retailer is known to be in talks with India’s largest retailer Future Group, and has reportedly arrived at ...
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Matahari cancels Hypermarket sale and will expand the chain
Matahari has cancelled the sale of its hypermarket business, Hypermart, and will instead retain and expand the chain.The decision follows the final recommendations of a strategic review conducted by investment bank Merrill Lynch. It was also recommended that Matahari join with a global partner to expand the hypermarket division, and ...
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Future Group is to increase its focus on private brands to drive sales and margins
Future Group is to increase its focus on private brands to drive sales and margins across its formats.Business head of private brands Devendra Chawla said: “We would like to focus on private brands such as Fresh & Pure, Tasty Treat and Clean Mate rather than in-store labels that can only ...
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Silgro sales reach £1.9bn
Sales in 2010 at supermarket and food service business Sligro reached €2.3bn (£1.9bn), an increase of 1.2% on 2009.Total turnover comprised €1.55bn (£1.3bn) from the food service division and €738m (£613m) from food retail. €25m (£20.7m) of sales resulted from the acquisition of Sanders Supermarkten in the fourth quarter.
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US retailers issue mixed trading updates
Retailers have been issuing Christmas trading updates. Department store group Kohl’s reported total sales for the five weeks ended January 1 up 5.9% to $3.19bn (£2.05bn) over the comparable period the previous year. On a like-for-like sales basis, December sales increased 3.9%.Clothing retailer Limited Brands reported like-for-like sales up 5% ...
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Walmart in Brazil cuts prices of 2000 items by up to 20%
Walmart has adopted an EDLP pricing model at its Brazilian operations with immediate effect. Dubbed Preço Baixo Todo Dia, the introduction of the scheme resulted in the prices of 2,000 items being cut by up to 20%.Walmart has also ended its Bomclube loyalty programme in Brazil as part of the ...
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Galeries Lafayette Christmas sales rise 10%
Galeries Lafayette posted a sales rise of 10% on the year over the 2010 Christmas period. The Paris flagship store in Boulevard Haussmann recorded an increase of 17%, while sales at other stores rocketed 8%.
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Atlantic revenue plummets 47% to £182.6m
Supermarket group Atlantic has reported poor financial results for the first nine months of 2010. Revenues plummeted by 47% year on year to €220m (£182.6m).Sales from the retail stores amounted to €145.7m (£121m), while the wholesale operations generated revenue of €74.3m (£61.7m).
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Emke Group steps up investment in Bahrain to increase stores
Bahrain UAE-based Emke Group is to increase its investment in Bahrain to BHD200m (£341.2m) to expand its retail operations.The group, which recently opened its third Lulu hypermarket in Bahrain at Ramli Mall in A’ali, expects to add another 600,000 sq ft hypermarket in Hidd this year that will be the ...
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Harvey Norman to expand in Malaysia
Australia-based electronics retailer Harvey Norman is to expand in Malaysia and plans to open 20 stores in the Klang Valley in the next five years.The expansion will cost in the region of MYR100m (£20.9m) as it invests between MYR5m (£1m) and MYR10m (£2.1m) per store in the coming years.
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Seven & I revenue increases 0.2% to £29.6bn
Get the knowledgeSubscribers have exclusive access to Retail Week Knowledge Bank. Find out what you’re missing now.Seven & I reported a 0.2% increase in revenues to ¥3,826bn (£29.6bn) for the nine months ending November 30, 2010.The convenience store division showed the best growth, with sales rising by 4.2% and operating ...
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Jumbo ramps up rebannering Super de Boer stores to Jumbo
Dutch supermarket group Jumbo plans to accelerate the conversion of former Super de Boer stores to Jumbo, rebannering 90 stores during 2011. In 2010, the retailer’s group turnover reached E3.51bn (£3.03bn), mainly thanks to acquisition of large parts of Super de Boer from French Casino.