All International articles – Page 219
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News
Seven & I Holdings profits rise 91% in Q2
Convenience store owner Seven & I Holdings reported net profit rose 91% in the second quarter ended August 31 compared with the previous year, thanks to the strong performance of its convenience stores and the unusually hot summer. The company reported a net profit of ¥38.13bn (£292m) compared with a ...
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News
Fast Retailing expects profits to fall next year as global competition toughens
Fast Retailing expects its profits to fall next year as global competition toughens. The Japanese company said it expected operating profit to fall 14.3% to ¥113.5bn (£869m) for the year to August 2011, despite managing a 21.9% increase in operating profit in the year to August 2010. The company said ...
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News
South Korea parliament considers limits on supermarket business
The country’s parliament is considering two bills that would impose restrictions on the opening and business of large supermarkets. Under one bill, currently passing through parliament, opening an urban supermarket with an area of between 10,760 sq ft and 32,290 sq ft would require permission from the local government. ...
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News
Costco annual sales hit £47.78bn
Grocery retailer Costco has reported net sales hit $76.25bn (£47.78bn) for the full year ended August 29, up 9% on the previous year. Like-for-like sales rose 4%, with the US up 2% and international up 8%. Costco currently operates 573 warehouse clubs, including 417 in the US and Puerto Rico, ...
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News
99¢ Only Stores Q2 sales increase 2.7%
Discount chain 99¢ Only Stores recorded a 2.7% increase in sales during its second quarter to $334m (£209m). Like-for-like sales grew by 0.6%. During the second quarter the company opened four stores and closed one. CEO Eric Schiffer commented: “We believe that we will have a strong holiday season, and, ...
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News
Target considers entering Canada
US general merchandise retailer Target is considering entering Canada with as many as 200 stores, in the company’s first move beyond US borders. The discount retailer gave the clearest indication of its intention so far when its representatives spent the past few days meeting with Canadian developers at a shopping ...
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News
Amazon acquires Spanish ecommerce company BuyVIP for £61.4m
Amazon has announced it has completed the acquisition of the Spanish ecommerce company BuyVIP for about €70m (£61.4m). BuyVip offers overstock items from brands such as Dolce & Gabbana, Louis Vuitton and Levi’s at steep discounts. The company doesn’t buy the stock itself but acts as a broker between fashion ...
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News
dm-drogerie markt tops £3.5bn in sales
Drugstore retailer dm-drogerie markt topped the €4bn (£3.5bn) sales mark in Germany in the financial year ended September 30, a sales increase of at least 7% on 2008/09. Although a reduction compared with the double-digit growth rate it achieved over the past couple of years, the company said the sales ...
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News
Pandora raises £1.3bn through IPO
Jewellery manufacturer and retailer Pandora had a successful IPO raising $2.1bn (£1.3bn). Demand was high as the company continues to grow sales in Europe and the US, where its charm bracelets are becoming increasingly popular.
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News
Saturn opens its first store in Russia
Metro Group-owned consumer electronics retailer Saturn has opened its first store in the country. The 5,060 sq ft store is located in Moscow’s Vegas Mall, the country’s largest shopping centre. A second Saturn store is scheduled for Voronezh in late 2010 and several other stores are being planned. Metro Group’s ...
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Opinion
What we’re reading: Monday
Retail technology stories we found worth reading on the web today
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AnalysisSlow road to South Korea will help Ikea’s prospects
Ikea has reported that group sales for the year ended August 31, 2010, rocketed 7.7% to €23.1bn (£19.2bn).
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AnalysisUS expansion
The US market is experiencing a flurry of activity from UK retailers, but what makes this current crop of American adventurers different?
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NewsAsia and Fresh & Easy give Tesco a little help
Food retail stocks lagged both their general retail peers and the market as a whole again despite a robust set of half-year results from Tesco.
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NewsAsos launches US site as overseas drive accelerates
Fashion etailer Asos has launched a dedicated US website as it hopes to tap into what it sees as the “enormous” potential of overseas sales.
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News
H&M Q3 sales rise 20%
H&M reported a 20% rise in third-quarter profit with strong August sales offset by rising costs that ate into gross margins. In the quarter ended August 31, profit after tax was Skr4.24bn (£367m),a jump of 23%. Sales including VAT for the quarter were Skr31.47bn (£2.7bn), an increase of 14%. Group ...
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News
Ahold appoints Europe COO Dick Boer as CEO
Ahold has appointed Dick Boer as chief executive of the company, with effect from March 2011. He will succeed John Rishton, who is leaving to become chief executive of Rolls-Royce.Boer, who has been with the company since 1998, is chief operating officer of Ahold’s European division and member of the ...
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News
Couche-Tard drops pursuit of Casey's General Stores
Canada-based convenience store operator Couche-Tard has dropped its almost six-month-long pursuit of US convenience chain Casey’s General Stores. Couche-Tard said it had allowed its offer of $38.50 (£24.30) per share to expire - none of Casey’s common stock was purchased and all tendered shares will be returned promptly.“We have decided ...
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News
Kmart to expand own-brand portfolio with the introduction of new range
Sears-owned mass merchandiser Kmart has announced the expansion of its own-brand portfolio with the introduction of the Smart Sense line. The new private label includes a wide range of items from snacks and beverages to oral care, household cleaners and over-the-counter medications.According to the retailer, the Smart Sense line is ...
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News
Eroski posts decrease in turnover to £3.1bn
Eroski has posted a 1.05% decrease in turnover to €3.7bn (£3.1bn) for the first half ended July 31. Pre-tax loss for the period decreased 50% to €34m (£28m).The supermarket chain managed to cut its debts to €265m (£220m) and to keep its competitive position in the market via a reduction ...