All articles by Planet Retail – Page 73
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News
Retail sales down in Germany
Retail sales fell 2.8% year on year in November and are expected to have declined by about 2% for 2009 overall, according to Germany’s Federal Statistical Office.Sales for the first nine months were down 1.8%. Products experiencing declines included clothing, which were down 3.5% on the year.Personal care and prescription ...
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Revenue increase at Jean Coutu
Pharmacy retailer Jean Coutu has reported a 9.3% year-on-year increase in revenue to C$678.1m (£396m) for its third-quarter.Retail sales increases reflected overall market growth, new store openings and consumers stocking up on over-the-counter drugs in case of a swine flu outbreak.On a same-store basis, sales climbed 6.3%. Over-the-counter drug sales ...
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Auchan to launch new discount store
Hypemarket operator Auchan is to launch a new discount format at Mulhouse in eastern France, by rebranding one of its underperforming stores.The store will adopt a new banner, called Priba by Auchan. Employees of the store were told about the change on December 24 by store director Marc Du Colombier.The ...
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Al Hokair to expand in the Middle East
The board of Saudi Arabian retailer Al Hokair has approved an expansion plan that covers Kazakhstan and could eventually include Egypt, Jordan and the United Arab Emirates.The group, which specialises in fashion retailing - including franchises for Inditex and M&S - and foodservice, would not disclose further details, saying only ...
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Fast Retailing revenues up 40%.
Fashion giant Fast Retailing revenues rocketed 40% year on year for its first quarter to November.Same-store sales jumped 21% and operating profit soared 49% to JPY61.1bn (£419m).Fast Retailing said the performance was driven by new products, the opening of its Paris Uniqlo global flagship store, the launch of the +J ...
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Jerónimo Martins sells 35 discount stores
Portuguese retail giant Jerónimo Martins has sold 35 of its Polish Biedronka discount stores to local player Presspo so it complies with Polish Competition Commission requirements for its acquisition of the Tengelmann-owned Plus discounter chain in Poland.The Commission said Jerónimo Martins must sell 38 Biedronka stores before it would give ...
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Lawson revenue hits £2.3bn
Operating revenue at convenience store player Lawson hit JPY339.7bn (£2.3bn) for the nine months to November 30, 2009.Operating profit came in at JPY44bn (£302m), while net profit was JPY23bn (£158m).The results came during a difficult trading environment for Japanese convenience stores, with relatively bad weather coinciding with a decline in ...
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Target sales up 1.8%
Retailers’ sales for the festive period were boosted by last-minute shopping and reduced pre-Christmas discounting, thanks to tighter management of inventories in the run-up to the holidays.Like-for-like sales at discounter Target rose 1.8% year on year; fashion giant Gap’s like-for-likes were up 1%, including a 7% rise at its cheaper ...
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Magnit to invest $1bn in development
Sergey Galitsky, the chief executive of Russian grocer Magnit, has revealed that the company is planning to invest up to $1bn (£619.8m) in development this year.Magnit has doubled the number of new store openings it expects, compared with the target it gave last October. It plans to open 25 to ...
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7-Eleven to open 1,000 convenience stores in Japan
Seven & I-owned 7-Eleven plans to open a further 1,000 convenience stores in Japan in the next year and to close 500 to 600 underperforming outlets, local press reported.Its 2010 financial year will be the second year of such large scrap-and-build expansion. Many of the new stores will be located ...
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Marty Hamnett to retire
Marty Hamnett, general manager of supermarket operations at Australian outfit Woolworths, is to retire at the end of the financial year after 40 years with the retail giant.Formerly general manager of the company’s Big W general merchandise division, Hamnett led the integration of Progressive Enterprise, the New Zealand supermarket business ...
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Jumbo sales to grow
Dutch supermarket and superstore operator Jumbo is expecting total sales to grow 20% to 25% in 2010, including sales from the converted stores it acquired from Casino’s Super de Boer chain late last year.During the year, Jumbo plans to convert a further 40 Super de Boer stores to the Jumbo ...
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Metro pulls out of deal with Privileg
Metro Group-owned consumer electronics superstore operator Media-Saturn is understood to have pulled out of a deal to acquire the Privileg household goods private label.The label - the German market leader in washing machines, tumble dryers and kitchen stoves - was bought by the Otto mail order group from Arcandor in ...
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Walmart to cut costs
Walmart is to launch a drive to cut billions of dollars of costs from its supply chain in 2010 by combining its store purchasing across national frontiers as it attempts to globalise its business, The Financial Times reported.The effort is part of the retailer’s plans to increase the proportion of ...
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Seventh Continent sales soar
Grocer Seventh Continent posted net sales soared 22.5% to RUB39.9bn (£792m) in 2008, according to documents prepared in accordance with International Financial Reporting Standards (IFRS).Growth was driven by the expansion of the company’s store base. Like-for-like sales climbed 10.4%.
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Deal between Suning and Citicall Retail Management
Suning, one of the leading electrical appliance retailers in China, has struck a deal to buy Hong Kong-based Citicall Retail Management for $4.5m (£2.76m), sources reported. Suning is due to complete its takeover of Citicall Retail Management by March. The Shenzhen-listed enterprise wants to extend its presence in Hong Kong ...
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Aeon to overall supermarkets
Aeon is to overhaul the supermarkets under its umbrella.The Japanese group plans to transform 55 stores - about 10% of the total number of Jusco stores and other supermarkets in the group - in 2010.Aeon will downsize floor space for items that have not been selling well, such as clothing ...
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X5 Retail and Perfumes Planet Switzerland in joint venture
X5 Retail, Russia’s largest retailer in terms of sales, and Perfumes Planet Switzerland, have set up a joint venture.The two companies will develop perfume selling points adjacent to X5’s food retail stores in Moscow, St Petersburg, Nizhny Novgorod and respective regions.PPS and X5 will own 80% and 20% of the ...
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CarrefourSA to open 100 stores in Turkey
CarrefourSA, the 60:40 joint venture between Carrefour and Sabanci Ticaret Merkezi in Turkey, has announced plans to open a further 100 stores in the country, each costing €670,000 (£597,023), in 2010.The first smaller-format express store will open on January 6 in the city of Mersin in southern Turkey, CarrefourSA general ...