All articles by Planet Retail – Page 54
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News
Netflix on the look-out for new international markets after success in Canada
Online streaming site Netflix said it was pleased with the results of its recent market entry into Canada and was looking at new international markets for 2011. Spokesman Steve Swasey declined to reveal how many subscribers had signed up in Canada, but said: “After a short period in Canada we’re ...
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Target pinpoints 10 locations for small-format stores
Get the knowledgeSubscribers have exclusive access to Retail Week Knowledge Bank. Find out what you’re missing now.Discount variety retailer Target has pinpointed 10 locations where it will open its smaller-format store concept. The list is composed of urban areas with densely populated central business districts and includes San Francisco, Seattle, ...
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Sears to launch movie download service
Department store group Sears has unveiled plans to launch a movie download service at its eponymous and Kmart stores. The service, called Alphaline Entertainment, would be available to users on a variety of devices, including mobile, and will offer customers the ability to download movies and TV shows the same ...
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Emart aims for £557m in turnover and to expand stores by 40% annually
Electronics retailer Emart is targeting turnover of 4,000 crore (£557m) in the next three to four years and will expand its store count by about 40% annually. Sunil Mehta, chief executive of Emart’s electronics business Next Retail, said that the chain expected to reach 1,000 stores by the end of ...
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Christmas sales increases for retailers in India
Retailers have reported strong increases in sales over the Christmas weekend, as rising confidence levels in a fast-recovering economy encouraged shoppers to spend more. Future Group’s department store Pantaloons reported a 30% increase in sales over last year and a 20% rise in footfall. Top selling items included partywear, formalwear, ...
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J Front Retailing revenue falls 3.1% to £5.4bn
Revenues at department store group J Front Retailing fell by 3.1% to ¥687.8bn (£5.4bn) in the nine months ending November 30, 2010. Operating profit increased by 3.5% to ¥9.3bn (£73.2m) while net profit doubled to ¥4.8bn (£37.8m).
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DCM Holdings revenue falls 2% to £2.5bn
Home improvement retailer DCM Holdings reported a 2% fall in revenues to ¥320.8bn (£2.5bn) in the nine months ending November 30, 2010. Operating profit was up by 3.8% to ¥11.8bn (£93m), while net profit was up by almost a quarter to ¥6.5bn (£51m).
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Rossmann to open 110 stores in Germany in 2011
Drugstore business Rossmann plans to open 110 stores in Germany in 2011. The retailer has earmarked E92m (£79.2m) for investment in the country, out of a total E150m (£129.2m) which will be invested across the business during 2011.Rossmann generated group revenue of E63bn (£54.bn) in 2010, a 12.9% rise over ...
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Walmart is to close office in Moscow
Walmart is to close its office in Moscow. International chief executive Doug McMillon said: “The Russian market is a compelling retail opportunity and we believe that Russian consumers could benefit from Walmart’s value proposition.“Since we have decided to enter the market through acquisition, not greenfield development, and since there is ...
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Ministop to open a convenience store chain in Vietnam
Japanese convenience store operator Ministop is to open a convenience store chain in Vietnam, hoping to tap into potential demand in the market.The company, which is a subsidiary of Japanese retail giant Aeon, said that it signed a basic accord with a unit of Trung Nguyen Holdings of Vietnam to ...
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Carrefour to enter India through partnership with Future Group
Future Group is working on plans to join up with French hypermarket chain Carrefour and bring the retailer’s stores to India, The Economic Times reports.Citing ‘sources in the know’, the newspaper says that Future Group chief executive Kishore Biyani is currently in Paris to finalise the details of a joint ...
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Ahold's ICA in Sweden trials student special packages
Ahold’s ICA in Sweden is trialling special packages for students. Called ICA Student, the scheme offers help with food shopping, insurance issues and banking services in a single package.In the first phase the service is being tested among 200 students from Uppsala and Norrtälje. Should the concept prove successful, ICA ...
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South African Massmart to exit Zimbabwe
South African Massmart - a 51% stake of which is expected to be acquired by Walmart in early 2011 - has announced that it is to exit Zimbabwe, selling its two stores in the country to local grocer OK Zimbabwe.In October this year, Massmart announced that it was likely to ...
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PPR enters talks with South African Steinhoff International Holdings
Luxury and retail group PPR has entered into exclusive negotiations with South African Steinhoff International Holdings over the sale of its shares in Conforama. The transaction is worth about E1.2 bn (£1bn) in cash. In November 2009, PPR announced that it was planning to sell off its retail division including ...
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Danks acquire five Magnet Mart stores as part of owners Woolworths and Lowe's venture into hardware
Woolworths and its US-based home improvement partner Lowe’s have acquired a Canberra-based hardware chain, as part of their aggressive venture into the hardware arena. The five stores, which trade under the name Magnet Mart, have been acquired by Danks, the hardware wholesaler that ...
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X5 Retail Group to acquire Kopeika
X5 Retail Group has announced that it has signed an agreement to acquire Kopeika in a transaction with a total enterprise value of RUR51.5bn (£1.05bn) including assumption of debt.X5 Retail Group has acquired a strong network of Kopeika price-oriented supermarkets which will be rebranded to the Pyaterochka banner. The transaction ...
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A&P files for Chapter 11 bankruptcy protection
US Tengelmann-controlled A&P has filed for Chapter 11 bankruptcy protection as it struggles with enormous debt and increased competition from low-priced peers.The retailer operates 395 stores around the Northeast under the A&P, Waldbaum’s, The Food Emporium, Super Fresh, Pathmark and Food Basics banners.
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Massmart launches website for extended food offer
In the run-up to its expected acquisition by Walmart, South African retailer Massmart has launched a dedicated website for the extended food offer that has recently been piloted at a Game variety store in Cape Town. The site - at Foodco.co.za - describes Foodco as “a supermarket inside Game that ...