Europe – Page 52
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NewsArcandor teeters as talks to salvage business continue
The future of beleaguered German conglomerate Arcandor hangs in the balance after it began insolvency proceedings last week.
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Rewe increases sales
Grocery group Rewe increased group-wide retail sales by 10.5 per cent to €49.8bn (£42.9bn) in 2008, it revealed this week, with EBITDA up 8.5 per cent to €1.34bn (£1.15bn).It recorded growth both in its German home market and abroad, but contributions from overseas operations were particularly strong. Sales increases were ...
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Dm Drogerie Markt to double its Czech Republic stores
German pharmaceuticals chain Dm Drogerie Markt wants to double the 155 stores it has in the Czech Republic. The retailer’s founder and co-owner Götz Werner said he plans to open 20 stores this year. The Czech Republic arm is owned by Dm Austria, which oversees expansion outside Germany.The move follows ...
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X5 moots expansion into Ukraine
X5, the largest grocer in Russia, is considering expanding in Ukraine.Group chief executive Lev Khasis said X5 is looking at a “big” merger, which would lead to the issue of new shares. He said the initiative in the country is a “theoretical opportunity” and the retailer has not made any ...
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Media Markt plans more stores in Turkey
Media Markt, the consumer electronics group owned by German retailer Metro Group, plans to open a further seven stores in Turkey by the end of this year.The move is part of Media Markt’s strategy to become the leader in the Turkish market by 2010. The retailer has opened nine stores ...
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Possible expansion into Russia for Wal-Mart
Wal-Mart International chief Doug McMillon has said the retailer is pursuing a variety of options to enter Russia.A delegation from Russia attended the retailer’s associates’ meeting last week and McMillon said Wal-Mart could proceed by acquisition or by opening its own stores, but no time frame has been set. “We ...
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NewsArcandor files for bankruptcy protection
German retail group Arcandor has filed for bankruptcy protection after yesterday’s decision by the German government not to provide rescue funds. An administrator is expected to be appointed today.
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Fnac to launch second-hand selling section on website
Electricals giant Fnac is to sell second-hand products from a new section of its website. According to reports, the retailer expects the new channel to account for 15 per cent of all online sales within the next 18 months.Fnac, which is owned by PPR, will offer up to 2 million ...
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Future of Arcandor remains unclear
The future of Karstadt owner Arcandor remains unclear after rival group Metro proposed that it acquire and merge Karstadt’s stores with its own Kaufhof fascia.But Arcandor chief executive Karl-Gerhard Eick remains confident of a state-backed solution after lobbying for a €650m (£564m) loan. Arcandor argues that Metro’s idea could cost ...
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Praktiker chief exec expects German economy to pick up soon
Wolfgang Werner, chief executive of DIY chain Praktiker, has called the bottom of the market in Germany and said he expects the economy there to be picking up soon. Werner said sales had “distinctly stabilised” over April and May, meaning it has “largely” compensated for the sales decline in the ...
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NewsNew Look to revamp all shops as it steams into new markets
New Look is to revamp all of its stores after a successful trial, and move into new markets including Ukraine, Poland and Singapore.
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Luxury retailers struggle as sector’s immunity fails
The usually polished and aloof world of luxury retail has become an unusually tense and anxious place as some of its biggest names battle for survival.
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Arcandor says Metro merger is no alternative to Government aid
Retail group Arcandor said that talks with Metro over a possible merger of the Karstadt and Kaufhof department store chains is no alternative to government aid. Arcandor spokesman Gerd Koslowski said: “Metro would have to bring the money we need for survival and it really doesn’t look like that at ...
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Dixy Group reveals net losses
Discount food retailer Dixy Group revealed that net losses last year were RUB324m (£6.6m) compared with a RUB429m (£8.7m) profit in 2007.The losses were mainly due to foreign exchange losses following the rouble’s decline against the dollar-denominated debt in its credit portfolio, amounting to RUB1.07bn (£21.7m).It was also hit by ...
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EBay clinches legal victory over L'Oréal
EBay has claimed victory in a Paris court case brought against it by cosmetics giant L’Oréal over counterfeit perfumes on eBay’s website. The court ruled in favour of the internet auction site and said that it was not liable for the fake products and had met its obligations to combat ...
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Metro seeks government intervention for rival's state support request
Metro has called on the German government to reject a request by its rival Arcandor for state support as it seeks to acquire the latter’s department store chain, Karstadt.Metro chief executive Eckhard Cordes wrote to the government outlining a “commercial solution” that would not need state intervention. Cordes has denied ...
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H&M had successful April trading
H&M had a strong April, when like-for-like sales climbed 8 per cent and total sales soared 18 per cent.The performance ended eight months of successive like-for-like falls for the fashion giant. Analysts believe H&M was helped by warm weather in its most important markets, such as Germany.A collaboration with UK ...
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AnalysisAt Mahon Point in Ireland retailers are fighting the recession
Times may be tough but Cork’s Mahon Point scheme isn’t taking the recession lying down. John Ryan goes to see how it’s wooing shoppers
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AnalysisTesco in Ireland: its toughest market
Faced with a tough economy, strong rivals and sales leaking north of the border, Tesco Ireland has struggled to assert its value stance. So will its counterattack work? Joanna Perry investigates
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AnalysisPlanned schemes in Dublin have been hit by retailers' uncertainty
Work on Dublin’s planned schemes has slowed to a snail’s pace as developers struggle to find retailers willing to sign in such uncertain times. Liz Morrell assesses development prospects