All articles by Planet Retail – Page 58
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News
Picard Surgeles acquired by private equity firm
Frozen food retailer Picard Surgeles has been acquired by private equity firm Lion Capital from BC Partners for €1.52bn (£1.27bn). The completion of the deal follows approval by the European regulatory authorities at the beginning of the month. The takeover price included €590m (£494m) in cash, while the remaining funding ...
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A&P Q2 sales decrease 10% to £1.22bn
Tengelmann-controlled A&P said that sales during the second quarter declined by 10% to $1.9bn (£1.22bn). Like-for-like sales fell 6.6%. Loss from continuing operations amounted to $143m (£92m), more than double the $62m (£40m) posted a year earlier. As the company’s financial situation continued to be pressured, A&P insisted its turnaround ...
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SuperValu reports Q2 £945m net loss
US grocer SuperValu has reported a net loss of $1.47bn (£945m) for the second quarter ended September 11. Net retail sales amounted to $8.7bn (£5.6bn) while retail food net sales declined 9.7% to $6.7bn (£4.3bn). The decline was primarily a result of the impact of an like-for-like store sales fall ...
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Pick n Pay H1 pre-tax profit falls by 25.5% to £61m
The country’s second-largest grocer Pick n Pay reported that its pre-tax profit fell by 25.5% to R682.1m (£61m) in the first half to 31 August, despite sales growth of 6% to R25.2bn (£2.26bn). Chief executive Nick Badminton described the past 12 months as the most challenging the company had faced ...
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Higher than expected sales for Indian retailers during Diwali
Indian retailers reported higher than expected sales during the festive Diwali season, with premium electronics emerging as one of the strongest categories. Products such as 3D, LED and large LCD and plasma televisions, white goods, branded clothing, cameras and Smartphones were among those pushing up average bill sizes by 15% ...
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Woolworths Q1 sales increase 4% to £8.4bn
Woolworths reported a 4% rise in first-quarter sales to Aus$13.91bn (£8.4 bn). Sales at the company’s food and liquor division in Australia for the quarter increased by 3.2% to Aus$9.29bn (£5.6bn), as like-for-like sales rose 2%. Woolworths’ New Zealand supermarkets sales had an even stronger increase of Aus$1.07bn (£642m) during ...
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Coles Group Q1 sales increase 4.9% to £4.5bn
Coles Group posted a rise of 4.9% in sales to Aus$7.49bn (£4.5bn) for its first quarter ended September 26. The retailer’s strong performance was attributed to lower prices and last year’s revamping of its fresh food areas. Growth rates at the chain proved to be outpacing larger rival Woolworths as ...
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Ikea aims to double stores in China
Ikea has said it aims to more than double the number of stores in China to 18 by 2015, from the current eight. As part of this plan, shopping centre construction company Inter IKEA Centre Group is to open its third mall in China, in Wuhan, Hubei province. IKEA China ...
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Ikea to enter South Korea
Ikea Group president and chief executive Mikael Ohlsson has reiterated comments made on a recent trip to Delhi that the retailer is preparing for market entry into South Korea. He has also confirmed the retailer’s plans to enter the Croatia and Serbian markets in the next few years.
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Toys R Us claims it won't be opening stores in India
US-based toy retailer Toys R Us has said it won’t be opening stores in India, following reports of a link-up with Reliance Retail. The company released a statement of denial after various news sources reported a link between the two retailers.
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X5 Retail Group acquisition of Kopeika may not go ahead
Despite having received approval from the Russian Anti Trust Office to acquire Moscow-based retail chain Kopeika, X5 Retail Group has said that the acquisition may not go ahead. Initially Kopeika aimed to sell its stake to X5 Retail Group at the beginning of October for an estimated $1.5bn (£1bn) including ...
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Schlecker contracts external advisers to revitalise business
Drugstore chain Schlecker has contracted external advisers to revitalise its ailing business. According to reports, Schlecker is working on a fresh store concept and is preparing to add a stronger regional component to its product offer, while improving its price perception.
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Cencosud acquires Supermercados Bretas for £525.8m
Chilean retailer Cencosud has acquired Brazilian supermarket chain Supermercados Bretas for BRL1.4bn (£525.8m). The chain operates 62 supermarkets, three distribution centres and 10 service stations in central and northern Brazil.The acquisition allows Cencosud to expand its presence to the Minas Gerais and Goias states and consolidate its position as the ...
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Carrefour Q3 sales increase 6.7% to £22.4bn
Carrefour has announced that third-quarter sales rose 6.7% at current exchange rates to reach €25.6bn (£22.4bn). Overall like-for-likes increased by 0.1% excluding petrol. The retailer stated that growth was driven by emerging markets and that in the retailer’s difficult home market, encouraging footfall was noticed for its hypermarkets in the ...
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Casino Q3 sales reach £6.27bn
Casino’s consolidated net sales rose by a reported 6.5% in the third quarter of 2010 to reach €7.18bn (£6.27bn). Changes in consolidation - mainly the deconsolidation of Venezuelan operations - had a 3.3% negative impact.
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Casino Proximité to open 530 new stores in 2011
Casino Proximité, Casino’s convenience store division operating the Petit Casino, Spar and Vival banners has announced that it plans to open more than 530 new stores in 2011. Casino Proximité director Jean-Pierre Lanzetti stated the retailer will be recruiting for 130 Petit Casino openings and 595 franchisees.
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Eroski launches private label economy food range
Grocery retailer Eroski has launched a new private label economy food range called Eroski Basic. Consisting of 200 food items, this new private label is similar to Carrefour Discount and El Corte Inglés’ Aliada ranges. Eroski Basic will be sold at all its grocery fascias except the Aliprox franchised ...
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Rewe launches forecourt store concept for independent petrol station operator
Rewe in Austria has launched a new format forecourt store concept for independent petrol station operators called ADEG am Weg (ADEG on the way). The 700 sq ft store is located at a Pein Energy petrol station in Mureck, Styria. According to Rewe it will offer about 1,000 items at ...
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Seven & I Holdings profits rise 91% in Q2
Convenience store owner Seven & I Holdings reported net profit rose 91% in the second quarter ended August 31 compared with the previous year, thanks to the strong performance of its convenience stores and the unusually hot summer. The company reported a net profit of ¥38.13bn (£292m) compared with a ...
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Fast Retailing expects profits to fall next year as global competition toughens
Fast Retailing expects its profits to fall next year as global competition toughens. The Japanese company said it expected operating profit to fall 14.3% to ¥113.5bn (£869m) for the year to August 2011, despite managing a 21.9% increase in operating profit in the year to August 2010. The company said ...