All articles by Planet Retail – Page 67
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News
Eroski sales down 6%
Spanish grocer Eroski reported a 6% decrease in gross sales during 2009 to €8.43bn (£7.6bn) as the retailer’s price cuts amid weak consumer confidence weighed on sales.The retailer also reported a net loss of €69m (£62m), a drop of 29% on last year, as Eroski’s results continued to be hit ...
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Department store Isetan Mitsukoshi posts £435m loss
Department store Isetan Mitsukoshi posted a consolidated net loss of ¥63.52bn (£435m) in the year ended March 31, which the retailer blamed on sluggish consumption and severe competition. The loss compares with a group net profit of ¥4.68bn (£25m) in the previous year. Sales were down 9.5% to ¥1.29 trillion ...
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1,000 Uniqlo stores to open in China
Fast Retailing has announced plans to open 1,000 Uniqlo stores in China within 10 years, generating ¥1 trillion (£7.47bn) in sales.Uniqlo will open a 38,000 sq ft flagship store in Shanghai this weekend, giving it a total of 65 stores in China. Beginning in the fiscal year 2012, Uniqlo will ...
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H&M ito open its first store in the southern hemisphere
H&M is looking at opening its first store in the southern hemisphere. Chief executive Karl-Johan Persson said Brazil and Argentina were “very interesting”, but H&M is also looking at Australia. At present none of the retailer’s 2,000 stores are located south of the equator.Persson confirmed that the retailer has the ...
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Whole Foods Market sales increase of 13.1% in Q2
Whole Foods Market reported that sales rose 13.1% during its second quarter to reach $2.1bn (£1.4bn). Like-for-like sales rose 8.7%, while identical store sales, excluding four relocations, increased 7.7%. EBITDA rose 40% to $182.3m (£126.3m), while net income increased 91.3% to $67.4m (£46.7m).The retailer also announced that John Mackey will ...
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Macy's like-for-likes up 5.5%
Macy’s has reported $5.57bn (£3.85bn) sales in the first quarter, an increase of 7.2% compared with the same period last year. Sales were up 5.5% on a like-for-like basis.Online sales (Macys.com and Bloomingdales.com combined) were up 34% in the period.Net income was $23m (£15.9m), compared to an $88m (£60.9m) loss ...
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Nordstrom like-for-likes up 12% in Q1
Nordstrom has reported that net income rose 43.8% to $116m (£80.5m) for the first quarter ended May 1. Total sales rose 16.7% to $1.99bn (£1.38bn) while like-for-likes were up 12%. Multichannel like-for-likes increased 13.7% while full-line like-for-likes rose 11.7% and direct sales were up 38.7%. Nordstrom Rack like-for-likes rose 1.9%.Nordstrom ...
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Walmart to accelerate its roll-out in India
Walmart plans to accelerate its roll-out of wholesale stores in India. Walmart India chief Raj Jain said the retailer plans to open 10 to 12 wholesale centres in India over the next two to three years, bringing forward an earlier target of five years.The move comes as real estate prices ...
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Carrefour to enter India
Carrefour has announced plans to enter India in July with its first cash-and-carry outlet in New Delhi. The retailer will then open three or four more wholesale outlets around the country by the year’s end.The retailer has sourced properties in New Delhi, Bangalore, Chennai and Hyderabad and will soon sign ...
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Tesco appoints chief executive officer of its Malaysian operations
Tesco has appointed Tjeerd Jegen as chief executive officer of its Malaysian operations. He replaces Chris Bush, who has taken over as chief executive of Tesco Thailand.Jegen will be responsible for all areas of the Tesco Malaysia business, from operations to marketing, finance and corporate affairs, across the division’s 33 ...
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Debenhams to open its first department store in South Korea
Debenhams is expected to open its first department store in South Korea at the end of this year. South Korean retailer Deben said it signed an exclusive deal with Debenhams in October last year to open and operate branches of the department store in the country.
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A&P posts Q4 loss of £113m
Tengelmann-controlled A&P has announced its fourth-quarter and full-year results for the 12 and 52 weeks ended February 27, 2010.Fourth-quarter net loss was $171.4m (£113.85m), up 53% compared with the net loss of $112.1m (£74.46m) a year earlier. Overall sales fell 12.9% to $2bn (£1.33bn), while like-for-like sales were down 4.8%. ...
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Bim Q1 proftis up 20%
Hard discount retailer Bim reported that its net profit rose 20% in the first quarter of 2010, up to TRL66m (£28.5m), and is on track to beat its 2010 profit and turnover targets. Sales climbed 29% to TRL1.58bn (£682.69m).
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Big W launches online
Woolworths’ discount department store, Big W, has launched an online store, allowing web-based shoppers access to more than 4,000 items from its range, including 600 items that are not available in-store.
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X5 to increase Express Retail stake
X5 Retail Group has announced an agreement to acquire an additional 20% stake in Express Retail for $6m (£4m).Express Retail is a joint venture operating 52 Perekrestok-Express convenience stores around Moscow, and is developing several franchising projects in this segment. The purchase brings X5’s total ownership interest to 60% of ...
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ICA Group reports increased sales
Ahold’s ICA Group has reported increased sales and improved operating income for the first quarter of 2010.Net sales for the first quarter amounted to Skr22.72bn (£2.11bn), up 0.7% on the same period last year. At constant exchange rates, net sales grew 1.7%. Operating income amounted to Skr620m (£57.51m), up ...
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Ronato focus on growing market share
During 2010 and 2011, home improvement retailer Rona plans to focus primarily on growing its market share in Ontario and Western Canada while reinforcing its strong position in Quebec.The retailer expects to grow its share of the Canadian home improvement market from 17% to 20% by the end of 2011.By ...
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Praktiker sales drop 6%
Praktiker, the DIY group, has reported a 6% drop in sales to €747.9m (£651.2m) in the first quarter of 2010, due to prolonged winter weather and persistent economic weakness in Eastern Europe.Net losses were €37.5m (£32.6m), steeper than the €36.8m (£32m) loss for the same period a year ago. January ...
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Edeka sales up 18.7% on Plus integration
Edeka, Germany’s largest grocer, posted an 18.7% sales increase to €38bn (£33bn) during 2009. EBITDA reached €714m (£622m), mainly thanks to the integration of the 2,339 Plus discount stores acquired from Tengelmann in January 2009.Plans for 2010 include an investment of €1.3bn (£1.13bn) to expand and modernise its stores and ...