Europe – Page 50
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News
Revenues at PPR decline
Revenues at retail and luxury group PPR declined 3.6 per cent to €9.2bn (£7.9bn) in the first half.At its entertainment fascia Fnac, sales in its home market were down 5 per cent. Fnac’s operations in Belgium, Portugal and Brazil showed solid growth, whereas sales in Spain continued to deteriorate, dropping ...
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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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News
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
Vente-privee enjoys a sales increase
Private sales website Vente-privee has enjoyed a sales increase of 40 per cent in the first half of this year. Sales rocketed to £290m for the period as shoppers took advantage of goods with more than 70 per cent off normal retail price.The Paris-based retailer, which launched a UK site ...
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News
Metro considers alternatives to merger
Metro is considering alternatives to formally merging its Kaufhof department store chain with Karstadt, the department store retailer owned by insolvent group Arcandor.Metro is examining the possibility of renting selected properties directly from owners once Karstadt goes into bankruptcy. A Metro spokesman said the retailer was interested in acquiring the ...
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News
Eldorado’s like-for-like sales slump
Electricals retailer Eldorado’s like-for-like sales slumped 21.7 per cent in the first half of this year.Total sales plummeted 29.4 per cent to RUB39.6bn (£782.1m), compared with the same period last year. The retailer revealed it grew EBITDA to RUB2.7bn (£53.3m) compared with a loss of RUB1.9bn (£37.5m) last year.Eldorado operates ...
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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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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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NewsIkea opens first store in Republic of Ireland
Ikea has opened in its first store in the Republic of Ireland with a 339,000 sq ft (31,500 sq m) unit in Ballymun on the north side of Dublin.
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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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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
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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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
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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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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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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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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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.
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News
Carrefour and El Corte Inglés ask staff to delay summer holidays
Carrefour and El Corte Inglés are asking their staff to delay their summer holidays in order to avoid hiring temporary staff over the busy summer months.French retail giant Carrefour wants staff to opt to take holiday in October and November, according to trade union sources.Spanish department store El Corte Inglés ...
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News
Staff recommend Aldi Sud increases branded products
Staff at discount grocer Aldi Sud have “strongly recommended” that the retailer should increase its range of branded products, according to German press reports.The discount grocer – split into two companies in Germany, Aldi Sud and Aldi Nord – is reported to have suffered a 5 per cent fall in ...