All articles by Planet Retail – Page 77
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News
Office Depot reports $413m net loss
Stationery giant Office Depot reported a $413m (£252.4m) net loss in its third-quarter results.Sales in the group’s North American retail division were $1.3bn (£794.5m), down 18% compared with the same period last year, due in part to having fewer stores. Comparable store sales in the 1,144 stores in the US ...
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Tengelmann confirms 200 redundancies
Retail giant Tengelmann has confirmed that it will make 200 redundancies in Germany.The redundancies will affect the retailer’s supermarket chain Kaiser’s Tengelmann (183 employees) and head office in Mülheim. The latter job cuts are due to the sale of discount banner Plus to Edeka.The Kaiser’s Tengelmann redundancies will affect the ...
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Grupo Famsa reports MXN199m (£9.3m) net income
Department store operator Grupo Famsa reported MXN199m (£9.3m) net income for the third quarter, up by 371.6% from the same period in 2008.Net sales during the quarter reached MXN3.71bn (£173m), up by 6.1% year on year. The positive performance was primarily attributed to an 8.4% increase in sales at its ...
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Spencer’s to focus on hypermarkets and private labels to improve profitability
Food and general merchandise retailer Spencer’s is to focus on hypermarkets and private labels in an attempt to improve profitability.The retailer, which is owned by Indian conglomerate RPG Group, will invest INR1bn (£12m) in rolling out 10 hypermarkets and 15 small-format stores this financial year. It also wants to double ...
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Walmart to focus on international growth and store revamps
Walmart has outlined its growth plans for next year, intending to focus on international growth and store revamps in its domestic market.In the US, Walmart will continue to focus on store revamps. By next month Walmart US will have completed Project Impact remodels at more than 30% of its 3,538 ...
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Quelle to close
German mail order retailer Quelle, owned by embattled department store owner Arcandor, is to close after attempts to sell it failed.Up to 7,000 employees are set to lose their jobs. Arcandor, which also owns the Karstadt department store chain, filed for bankruptcy protection in June. The German government had granted ...
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Metro Group starts work on first cash & carry stores in Egypt
Metro Group has started work on the first of potentially 23 cash & carry stores in Egypt. The store, in Cairo, is scheduled to open early next year. Metro originally intended to enter the market in late 2009 but then postponed it to 2010. The plan involves having a network ...
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Carrefour to expand in China
Despite ongoing speculation in the Chinese press that Carrefour is coming under shareholder pressure to exit China, it is to expand its presence in the Chengdu region with two new hypermarkets this year, and more in 2011.General manager of central and western China Arnaud Dupont said Chengdu had “huge market ...
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NewsMicrosoft launches its first retail store in Arizona
Microsoft has launched its first retail store, at Scottsdale in Arizona.
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News
X5 Retail Group's multi-format strategy helps it combat recession impact
X5 Retail Group said its multi-format strategy has allowed it to circumvent some of the harsher effects that the economic downturn has had on consumer spending in the country.X5 has posted relatively stable like-for-like sales growth since the onset of the economic crisis, outperforming its competition, chief executive Lev Khasis ...
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News
Sales at Pick ’n Pay jump 12.3% year on year
Sales at food and general merchandise retailer Pick ’n Pay jumped 12.3% year on year to R26.6bn (£2.2bn) for the first half to August 31, 2009.The company said its continuing operations have gained 0.4% of market share in the period, with significant gains in every fresh food category, adding that ...
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News
RadioShack reports a 3.1% decline in net sales
For the third quarter ending September 30, 2009, RadioShack reported a 3.1% decline in net sales to $990m (£606m).Comparable same-store sales for company-operated stores and kiosks declined 2.9%, driven primarily by sales declines in digital-to-analog converter boxes, laptop computers, batteries, wireless accessories, and GPS products.Operating income plummeted 18.3% to $69.4m ...
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News
Real completes its entry into the Ukrainian market.
Metro Group-owned hypermarket Real has opened its first hypermarket close to the eastern Ukrainian port of Odessa, completing its entry into the Ukrainian market.“Entering the Ukrainian market is a further step in the continuing internationalisation of our company,” said Real chief operating officer Didier Fleury at the opening ceremony in ...
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News
Carrefour reports sales rise
Carrefour has reported that sales for its third quarter reached E23bn (£21bn), a rise of 0.5% excluding petrol and at constant exchange rates.In France, market share gains were driven by the strong performance of Carrefour Market – where like-for-likes increased 6% excluding petrol – and the success of Carrefour-branded products. ...
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News
Tengelmann close to selling its Plus discount operations in Austria, Romania and Bulgaria
Tengelmann is close to selling its remaining Plus discount operations in Austria, Romania and Bulgaria.The stores in Austria are likely to be sold to Spar (Austria), while the network in Romania is likely to be picked up by Delhaize Group, and the young operation in Bulgaria by Schwarz Group’s Lidl.Closure ...
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Woolworths’ attempt to enter the DIY market under threat
The country’s largest retailer Woolworths’ attempt to enter the DIY market looks under threat after its takeover of hardware retailer Danks has been put in doubt.The competition regulator has raised concerns about Woolworths planned takeover. In a 13-page document, the Australian Competition and Consumer Commission said the purchase of Danks ...
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Retail sales in America fall in September
Retail sales in America fell by the largest amount so far this year in September – 1.5% – but the fall was not as bad as expected.The drop in sales was attributed to car sales plummeting following the end of the country’s scrappage scheme. Car sales dropped by 10.4%, but ...
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News
Walmart enters into a price war with Amazon
Walmart has entered into a price war with Amazon and the nation’s book retailers, lowering prices on certain highly anticipated hardback titles to $9 (£5.49).The retailer listed prices for some upcoming hardcover releases, such as Dean Koontz’s Breathless and Stephen King’s Under the Dome at $10 (£6.10), which was answered ...
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Lotte Shopping has agrees to acquire Times
Lotte Shopping has agreed to acquire Chinese hypermarket operator Times.A Lotte Group spokesman said: “We have in effect acquired Times, although some processes [to complete the deal] remain.”Lotte Shopping will purchase a 72.3% stake in the company from chairman Kenneth Fang. The South Korean retailer is believed to have outbid ...
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FAS plans to clear takeover of Paterson by X5 Retail Group.
Russia’s Federal Antimonopoly Service (FAS) plans to clear the takeover of Russian retailer Paterson by X5 Retail Group.FAS director Igor Artemyev said the service would approve the transaction on the condition that X5 Retail sells Paterson’s stores in St Petersburg “within some reasonable time frame, maybe six months” in order ...