All articles by Planet Retail – Page 56
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News
Loblaw like-for-like sales drop after acquisition
Grocer Loblaw has reported sales of CAD9.6bn (£5.9bn) in the 16 weeks ended October 9, up from CAD9.5bn (£5.95bn) in the previous year, helped by the acquisition of Asian supermarket chain T&T.Like-for-like sales declined 0.4%. Gross profit increased by CAD152m (£94m), or 7%, to CAD2.3bn (£1.4bn) in the third quarter. ...
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Target Q3 sales up 3% to £9.5bn
Discount superstore operator Target has reported its financial results for the third quarter ended October 30. Retail sales increased 3% to $15.2bn (£9.5bn), from $14.8bn (£9.2bn) in 2009, due to a 1.6% increase in like-for-like sales combined with the contribution from new stores. EBIT for the retail segment came in ...
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Sears Holdings records £136m loss
Department store retailer Sears Holdings recorded a loss of $218m (£136m) for the three months ended October 30, from $127m (£80m) during the prior-year period. Sales declined 4.9% to $9.7bn (£6bn), primarily as a result of a 4.8% decrease in domestic like-for-like sales.The retailer said that results were hurt by ...
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Falabella Q3 profit rockets 236.8%
Falabella has reported net profit of CLP81.9bn (£102m) for its third quarter, 236.8% above the figure for the same period last year.Revenues for the period rose by 21.6% to CLP1.08trn (£1.3bn). The company opened five supermarkets during the period, one in Chile and four in Peru. In Peru Falabella also ...
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Carrefour considers Dia sale
Carrefour is reportedly considering the sale of its discount business Dia. According to reports the retailer has entrusted French bank BNP Paribas with a “strategic audit” of its discount business worldwide. A member of the retailer’s executive committee was quoted as saying: “The sale of Dia had already been considered ...
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X5 Retail Group launches provincial format under Pyaterochka-Maxi
X5 Retail Group has launched a new small town/provincial format operating under the Pyaterochka-Maxi banner in its domestic market. The first store opened at the Avtobus shopping centre in Syzran, in the Samara region.Pyaterochka-Maxi is a superstore-sized warehouse club with a sales area of 38,000 sq ft. It offers 7,000 ...
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Woolworths profit to rise between 8% and 11% in 2011
At its AGM, Woolworths chief executive Michael Luscombe said the company had experienced an extraordinary couple of years and profit would remain on course to rise between 8% and 11% in the 2011 financial year. Luscombe spoke of how Woolworths was preparing for its entry into the home improvement business ...
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Topshop calls off entry into Norway after copyright dispute
Arcadia Group-owned fashion retailer Topshop has called off its market entry into Norway after a copyright dispute with a local retailer that has already registered the brand Topshop in the country. Topshop has been in negotiations with the owner for more than a year without results.
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Indigo Q2 revenue rises 3.8%
Book retailer Indigo has reported a 3.8% growth in revenue for its second quarter ending October 2. Revenue for the quarter was CAD214.8m (£131.7m), up CAD7.8m (£4.8m) from last year. On a like-for-like basis, Indigo and Chapters superstores posted a 0.7% decline in revenue, while small format stores were ...
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Shoppers Drug Mart Q3 sales increase 2.6% to £1.9bn
Shoppers Drug Mart has recorded a 2.6% sales rise in the third quarter to CAD3.09bn (£1.9bn), with the company reporting continuing sales growth in all regions of the country. On a like-for-like basis, sales increased 1.2% during the quarter, while prescription sales increased 0.8%, or 0.2% on a like-for-like basis.
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Kohl's and Macy's records flat Q3 profits
Department store retailers Kohl’s and Macy’s have reported their third-quarter results for the period ended 30 October. Kohl’s reported its net profit for the third quarter was flat at $194m (£120.3m), compared with $193m (£119.7m) a year ago. Net sales for the quarter were $4.2bn (£2.6bn), an increase of ...
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Exito works with Dunnhumby to better understand customer behaviour
Casino-owned Colombian retailer Exito has announced that it is working with Dunnhumby to better understand consumer behaviour in its stores. The Tesco-owned market research company will be working with the information generated by the Puntos Éxito and SuperCliente Carulla-Pomona loyalty cards.
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Delhaize Group Q3 sales increase 0.8% to £4.4bn
Delhaize Group has posted sales growth of 0.8% at identical exchange rates in the third quarter, the period between July and September. At actual exchange rates, sales increased by 8.6% to €5.3bn (£4.4bn) due to the strengthening of the US dollar by 10.8% against the euro compared with the third ...
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Dansk Supermarked sales up 3% to £4.93bn
Netto-owned Dansk Supermarked has reported sales up 3% to DKK43.2bn (£4.93bn) in the first nine months of 2010, up from DKK41.8bn (£4.77bn) during the same period last year. Net income was DKK1.36bn (£152.9m), a rise of 2% on last year. Dansk Supermarked majority owner A P Møller-Maersk said in a ...
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Shoppers Stop turnover soars 23%
Variety retailer Shoppers Stop posted a 23% jump in retail turnover to INR5.08bn (£70.5m) for the quarter ended September 30. Net profit soared 44% to INR174m (£2.4m).
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The Warehouse Group Q1 sales fall 0.2%
The Warehouse Group has reported flat first-quarter results with a 0.2% decrease in net sales for the three months to October 31, down to NZD362.3m (£173.8m).
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ICA Q3 sales rise by 0.2% to £2.1bn
Ahold-controlled Nordic retailer ICA has announced that net sales grew by 0.2% to SEK23.5bn (£2.1bn) in the third quarter to the end of September, while operating income grew 0.4% to SEK940m (£84.9m). Net income for the third quarter was up 9% to SEK644m (£58.2m).
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Media-Saturn to open first store in China
Metro Group-owned consumer electronics retailer Media-Saturn will open its first store in China, in Shanghai, on November 17 this year. The store will have a sales area of 145,320 sq ft.Media-Saturn chief executive Roland Weise confirmed that the retailer was planning to grow its local network to 10 stores in ...
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Lidl given the go-ahead for acquisition of Tengelmann's discount stores
The Romanian competition authorities have formally given their go-ahead for the acquisition of all of Tengelmann’s 105 Plus discount stores in Romania by Lidl. The office stated that the transaction would have no negative effects on competition in the national grocery market.For Lidl, the decision means that it will expand ...