All International articles – Page 212
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News
Christmas sales increases for retailers in India
Retailers have reported strong increases in sales over the Christmas weekend, as rising confidence levels in a fast-recovering economy encouraged shoppers to spend more. Future Group’s department store Pantaloons reported a 30% increase in sales over last year and a 20% rise in footfall. Top selling items included partywear, formalwear, ...
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News
J Front Retailing revenue falls 3.1% to £5.4bn
Revenues at department store group J Front Retailing fell by 3.1% to ¥687.8bn (£5.4bn) in the nine months ending November 30, 2010. Operating profit increased by 3.5% to ¥9.3bn (£73.2m) while net profit doubled to ¥4.8bn (£37.8m).
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DCM Holdings revenue falls 2% to £2.5bn
Home improvement retailer DCM Holdings reported a 2% fall in revenues to ¥320.8bn (£2.5bn) in the nine months ending November 30, 2010. Operating profit was up by 3.8% to ¥11.8bn (£93m), while net profit was up by almost a quarter to ¥6.5bn (£51m).
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News
Rossmann to open 110 stores in Germany in 2011
Drugstore business Rossmann plans to open 110 stores in Germany in 2011. The retailer has earmarked E92m (£79.2m) for investment in the country, out of a total E150m (£129.2m) which will be invested across the business during 2011.Rossmann generated group revenue of E63bn (£54.bn) in 2010, a 12.9% rise over ...
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NewsTesco buys 128 stores in Czech Republic for £34.3m
Tesco has acquired 128 convenience stores in the Czech Republic for 1.02bn koruna (£34.3m), bolstering its operations in central Europe.
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NewsLeaked cable reveals 'repugnant anti-semitic campaign' against M&S Tripoli store
The Libyan authorities staged a “repugnant anti-semitic” campaign in an attempt to force the closure of a Marks & Spencer store in Tripoli according to US diplomatic cables leaked through WikiLeaks.
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AnalysisReinventing the Planet
The world’s second biggest retailer, Carrefour, is trying to reinvent the hypermarket. John Ryan visits Lyon in France to find out how
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News
Walmart is to close office in Moscow
Walmart is to close its office in Moscow. International chief executive Doug McMillon said: “The Russian market is a compelling retail opportunity and we believe that Russian consumers could benefit from Walmart’s value proposition.“Since we have decided to enter the market through acquisition, not greenfield development, and since there is ...
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NewsM&S to open first store in Egypt and third in China
Marks & Spencer took a step forward with international expansion yesterday, when its first store in Egypt and third in China were scheduled to open.
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News
Ministop to open a convenience store chain in Vietnam
Japanese convenience store operator Ministop is to open a convenience store chain in Vietnam, hoping to tap into potential demand in the market.The company, which is a subsidiary of Japanese retail giant Aeon, said that it signed a basic accord with a unit of Trung Nguyen Holdings of Vietnam to ...
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News
Carrefour to enter India through partnership with Future Group
Future Group is working on plans to join up with French hypermarket chain Carrefour and bring the retailer’s stores to India, The Economic Times reports.Citing ‘sources in the know’, the newspaper says that Future Group chief executive Kishore Biyani is currently in Paris to finalise the details of a joint ...
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News
Ahold's ICA in Sweden trials student special packages
Ahold’s ICA in Sweden is trialling special packages for students. Called ICA Student, the scheme offers help with food shopping, insurance issues and banking services in a single package.In the first phase the service is being tested among 200 students from Uppsala and Norrtälje. Should the concept prove successful, ICA ...
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News
South African Massmart to exit Zimbabwe
South African Massmart - a 51% stake of which is expected to be acquired by Walmart in early 2011 - has announced that it is to exit Zimbabwe, selling its two stores in the country to local grocer OK Zimbabwe.In October this year, Massmart announced that it was likely to ...
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News
PPR enters talks with South African Steinhoff International Holdings
Luxury and retail group PPR has entered into exclusive negotiations with South African Steinhoff International Holdings over the sale of its shares in Conforama. The transaction is worth about E1.2 bn (£1bn) in cash. In November 2009, PPR announced that it was planning to sell off its retail division including ...
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News
Danks acquire five Magnet Mart stores as part of owners Woolworths and Lowe's venture into hardware
Woolworths and its US-based home improvement partner Lowe’s have acquired a Canberra-based hardware chain, as part of their aggressive venture into the hardware arena. The five stores, which trade under the name Magnet Mart, have been acquired by Danks, the hardware wholesaler that ...
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News
X5 Retail Group to acquire Kopeika
X5 Retail Group has announced that it has signed an agreement to acquire Kopeika in a transaction with a total enterprise value of RUR51.5bn (£1.05bn) including assumption of debt.X5 Retail Group has acquired a strong network of Kopeika price-oriented supermarkets which will be rebranded to the Pyaterochka banner. The transaction ...
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AnalysisInternationalism is high on the agenda for 2011
In the past few years the retail sector has been dominated by the effects of the global economic crisis, with consumers in search of value and low prices.
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News
A&P files for Chapter 11 bankruptcy protection
US Tengelmann-controlled A&P has filed for Chapter 11 bankruptcy protection as it struggles with enormous debt and increased competition from low-priced peers.The retailer operates 395 stores around the Northeast under the A&P, Waldbaum’s, The Food Emporium, Super Fresh, Pathmark and Food Basics banners.
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NewsReiss ramps up overseas plans with new head of international
Fashion retailer Reiss has appointed its first dedicated head of international as it seeks to ramp up its overseas expansion.