All Europe articles – Page 45
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News
Tengelmann to overhaul Kaiser’s Tengelmann supermarket network
Retail conglomerate Tengelmann is preparing to overhaul its German Kaiser’s Tengelmann supermarket network and is considering selling some of the stores in order to lift the network’s profitability, according to local trade press.The chain consists of about 710 stores nationwide, but the review is expected to focus on trimming its ...
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Pharmacy Chain 36.6 reports preliminary consolidated sales drop
Pharmacy Chain 36.6 reported preliminary consolidated sales dropped 13.1 per cent in the first half of the year to RUB11.63bn (£222.1m).The company’s retail sales slumped 17.4 per cent on the year to RUB8.8bn (£168m).At the end of June the company had 1,036 pharmacies in 29 Russian regions. It opened six ...
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LVMH records revenue of €7.8bn
Luxury goods retailer LVMH recorded revenue of €7.8bn (£6.7bn) in the first half, reflecting a slight increase against the same period in 2008 despite the global economic crisis and a strong comparable performance.Chairman and chief executive Bernard Arnault said: “The first-half results once again demonstrate the exceptional appeal of our ...
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Metro's EBIT plummets
Metro’s EBIT plummeted 20 per cent to €307bn (£260.99bn) in the second quarter due to costs associated with its efforts to restructure the business.Sales for the period dropped 3.8 per cent to €15.3bn (£13.1bn) because of currency fluctuations in Eastern Europe.Over the first half, group sales slid 3.2 per cent ...
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Retail sales fall in Germany
Retail sales fell 1.8 per cent month on month in June as the global crisis maintained its grip on Europe’s biggest economy.The drop followed a 1.3 per cent decline in May and contrast with economists’ expectations that the country’s sales would improve slightly or, at worst, be flat in June.On ...
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NewsSpotify attracts high profile investors
Spotify, the digital music download service, is close to securing new funding from investors including the charitable foundation of Hong Kong tycoon Li Ka-shing.
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Top property agent to head Apple growth plans
Apple is expected to ramp up its European property strategy by appointing a leading agent to head its growth plans.
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News
Best Buy is trials sale of discounted laptops with internet contracts
Electricals giant Best Buy is trialling the sale of discounted laptops with internet contracts, echoing a similar initiative used by joint-venture partner Carphone Warehouse in Europe.Customers at selected stores can buy lower priced laptops if they sign up for two years with a broadband provider. Best Buy chief executive Brian ...
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NewsIrish retailers fearing worst Christmas ever
Irish retailers are braced for their worst Christmas in history as sales continue to be battered by the slump in consumer confidence.
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NewsScott Wheway appointed chief of Best Buy Europe
Best Buy Europe – the European joint venture between Carphone Warehouse and US electricals giant Best Buy – has appointed former Tesco and Boots executive Scott Wheway as chief executive.
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OpinionPrimark will storm Germany
A visit last week to Primark’s first store in Germany was instructive. Located in the northern city of Bremen in a brand new shopping centre, it was reasonable to expect that the value retailer would have pulled out all the stops to make its Teutonic debut, and it didn’t disappoint.
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News
Casino reports a 1.9 per cent fall in Q2 sales
Supermarket group Casino reported a 1.9 per cent fall in second-quarter sales, broadly in line with market expectations. Sales were weighed down by lower petrol prices and declines at its French hypermarkets.Second-quarter sales fell to €6.82bn (£5.87bn). The retailer said that underlying sales excluding petrol and calendar effects rose 1.1 ...
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News
Schlecker interested in buying Woolworths Germany stores
Chemist Schlecker is understood to be interested in buying some of the stores of insolvent retailer Woolworths Germany. The health and beauty giant would convert the shops to its Schlecker XL fascia.Other retailers interested in snapping up some of the 160 stores are thought to be discount grocers Lidl and ...
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News
Carrefour sales fall
Carrefour, the world’s second-biggest retailer, said second-quarter sales fell 1.2 percent, hurt by weaker western European markets, lower petrol prices and exchange rates.The drop to €23.4bn (£20.1bn) was slightly less than some analysts’ forecasts. Half-year sales were €46.2bn (£39.8bn). Carrefour group chief executive Lars Olofsson described half-year sales as “resilient”, ...
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AnalysisCan Kingfisher's Castorama triumph in Russia?
Russia may be hard to crack but Peter Høgsted vows Kingfisher’s Castorama chain can win DIY share there. Nicola Harrison reports from St Petersburg
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NewsNetto cuts prices to drive discount credentials
Danish discount grocer Netto is reducing the price of more than 100 staple products as it seeks to reinforce its low price proposition.
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News
Metro unveils turnaround programme
Metro has unveiled a turnaround programme for its flagging Cash & Carry wholesale business. The turnaround programme is based on three core targets of growth, restructuring and innovation.Metro Cash & Carry said the programme will improve its earnings development and open up additional sales potential. The grocer’s growth strategy includes ...
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NewsUS denim brand True Religion to open first UK stores
US designer denim brand True Religion is to kick off a European standalone store opening programme with a London opening planned for this year.
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News
X5 Retail Group reports strong first-half sales
X5 Retail Group has reported strong first-half sales, lifted by the performance of its price-led Pyaterochka shops.The grocery group’s consolidated net retail sales soared 46 per cent in local currency to RUR130.91bn (£2.48bn) or 6 per cent in dollars. Retail like-for-likes climbed 12 per cent year on year in local ...
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NewsJysk prepares for UK expansion after improving business model
Danish furniture retailer Jysk is poised to roll out more UK stores after resolving teething problems at its operations here and bolsters its management with a head of buying from Next.