All International articles – Page 217
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News
A&P launches international foods private-label range
Tengelmann-controlled A&P is launching a new private-label range of international foods. Named The Food Emporium Trading Company - after one of A&P’s store banners - the range will be sold at the eponymous stores in addition to the A&P, SuperFresh and Waldbaum’s banners.
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OfficeMax Q3 sales drop 1% to £1.2bn
OfficeMax reported total company sales for the third quarter ended September 25 decreased 1% to $1.81bn (£1.2bn). However, pre-tax profit was $33m (£21m), compared with $17m (£11m) in the third quarter of 2009. For the full year, OfficeMax said it expected total company sales to be slightly lower than fiscal ...
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News
Sephora Americas to enter Mexico through JV with Grupo Axo
LVMH-owned perfumery Sephora Americas has signed a joint venture agreement with Grupo Axo to establish a retail presence in Mexico. The two partners will begin operations with two store openings in the second half of 2011 and significant additional store openings targeted each year thereafter.This joint venture further signifies Sephora’s ...
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Shoppers Stop Q2 turnover increases 23%
Shoppers Stop reported a 23% jump in turnover for its second quarter ended September 30. Turnover reached INR509 crore (£7.1m) compared with INR412 crore (£5.7m) for the prior-year period. Net profit soared 44% to INR17.4 crore (£243,855) against INR12.1 crore (£169,550) the previous year. “The surge in consumer confidence has ...
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AnalysisWalmart rethinks majority stake offer for Massmart
The latest news from South Africa suggests Walmart is considering scaling back its offer to acquire a majority stake in Massmart following discussions with its shareholders. Walmart had previously announced a non-binding proposal, which could lead to a cash offer to acquire the entire issued share capital of Massmart, on September 27.
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Lawson to acquire HMV Japan for £14m
Convenience store retailer Lawson is to acquire music and video retailer HMV Japan on December 1 for ¥1.8bn (£14m). All of HMV Japan’s shares will be purchased from Daiwa Securities SMBC Principal Investments Co. HMV Japan runs 37 stores in Japan. Lawson hopes that the acquisition will help boost its ...
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Woolworths to open 10 big-box home improvement stores in Victoria
Woolworths is to open 10 big-box home improvement stores over the next 12 months in Victoria in a bid to expand its DIY store presence. Nine of the stores will open in the Greater Melbourne area. The chain has become involved in the hardware retailing business through a joint venture ...
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Lotte Shopping Q3 sales up 23.1% to £1.9bn
Lotte Shopping has reported a strong set of results for its third quarter with gross sales up 23.1% to KRW3.5trn (£1.9bn). Operating profit was up by 44.7% to KRW241bn (£133m), while net profit increased 25.7% to KRW183bn (£86m). It had a good performance in all divisions, with like-for-like sales growth ...
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NewsM&S mulls plot to return to Europe
Marks & Spencer is understood to be plotting a return to mainland Europe by buying back shops that it sold almost 10 years ago, according to reports.
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AnalysisA world of international retail opportunities
Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher
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AnalysisUS stores gear up for the third largest retail event
This week, US retailers will be getting out the fake spider webs and Lady Gaga costumes for the country’s third largest retail event. US Halloween sales are expected to reach $5.8bn (£3.7bn), according to the National Retail Federation (NRF).
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News
Anti-Japan protests close Isetan Mitsukoshi store
Japan-based department store group Isetan Mitsukoshi was forced to suspend operations at its store in Chengdu in Sichuan province in China due to violent anti-Japan protests. As Japanese retail stores may remain targets of protests, it is uncertain whether Isetan Mitsukoshi can implement store opening plans in China. At present, ...
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dm group sales increase 8.8% to £4.73bn
Drugstore operator dm reported gross group sales rose by 8.8% to €5.65bn (£4.73bn) in its 2009 fiscal year. In Germany sales reached €4bn (£3.35bn), growing by 8.7%. Chairman and chief executive Erich Harsch said that dm was aiming for market leadership and that it was going to close the gap ...
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News
Picard Surgeles acquired by private equity firm
Frozen food retailer Picard Surgeles has been acquired by private equity firm Lion Capital from BC Partners for €1.52bn (£1.27bn). The completion of the deal follows approval by the European regulatory authorities at the beginning of the month. The takeover price included €590m (£494m) in cash, while the remaining funding ...
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News
A&P Q2 sales decrease 10% to £1.22bn
Tengelmann-controlled A&P said that sales during the second quarter declined by 10% to $1.9bn (£1.22bn). Like-for-like sales fell 6.6%. Loss from continuing operations amounted to $143m (£92m), more than double the $62m (£40m) posted a year earlier. As the company’s financial situation continued to be pressured, A&P insisted its turnaround ...
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News
SuperValu reports Q2 £945m net loss
US grocer SuperValu has reported a net loss of $1.47bn (£945m) for the second quarter ended September 11. Net retail sales amounted to $8.7bn (£5.6bn) while retail food net sales declined 9.7% to $6.7bn (£4.3bn). The decline was primarily a result of the impact of an like-for-like store sales fall ...
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Pick n Pay H1 pre-tax profit falls by 25.5% to £61m
The country’s second-largest grocer Pick n Pay reported that its pre-tax profit fell by 25.5% to R682.1m (£61m) in the first half to 31 August, despite sales growth of 6% to R25.2bn (£2.26bn). Chief executive Nick Badminton described the past 12 months as the most challenging the company had faced ...
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Higher than expected sales for Indian retailers during Diwali
Indian retailers reported higher than expected sales during the festive Diwali season, with premium electronics emerging as one of the strongest categories. Products such as 3D, LED and large LCD and plasma televisions, white goods, branded clothing, cameras and Smartphones were among those pushing up average bill sizes by 15% ...
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Woolworths Q1 sales increase 4% to £8.4bn
Woolworths reported a 4% rise in first-quarter sales to Aus$13.91bn (£8.4 bn). Sales at the company’s food and liquor division in Australia for the quarter increased by 3.2% to Aus$9.29bn (£5.6bn), as like-for-like sales rose 2%. Woolworths’ New Zealand supermarkets sales had an even stronger increase of Aus$1.07bn (£642m) during ...