All International articles – Page 231
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News
Carrefour China in talks for Baolongcang outlets
Carrefour China is in talks with local hypermarket operator Baolongcang to buy out its outlets, the local press has reported.Baolongcang has 14 hypermarkets in small cities in Hebei and Shandong province. It reported total sales of CNY3.16bn (£317.2m) in 2009.Wu-Mart and China Resources Enterprise are rumoured to also be interested ...
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Carrefour Poland to focus on franchise network
Carrefour Poland is to switch its focus from large developments in big towns to its franchise network.The retailer will expand its network of 330 sq ft to 1,310 sq ft franchise shops in housing estates in smaller towns, according to local press. Carrefour said that 50 to 60 such shops ...
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Toys R Us plans renewed float
Toys giant Toys R Us is set to become a public company again with plans to float for $800m (£548.6m).The retailer, which has 1,363 stores in 34 countries, including 75 in Britain, said it hopes to use some of the money raised to pay off a portion of its debt. ...
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NewsInditex and H&M break into new markets
Two of Europe’s largest fashion retailers Inditex and H&M have taken their first steps into new growth markets this week; with Inditex opening its first store in India and H&M announcing its first opening in Turkey.
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NewsSweden’s Monki targets UK in global expansion
Quirky Swedish fashion chain Monki has confirmed it is looking at entering the UK market.
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NewsHotel Chocolat to fund overseas expansion with chocolate bonds
Hotel Chocolat is targeting the US, the Middle East, Scandinavia and Germany in its international drive, following its attempt to raise £5m of development funds through the launch of ‘chocolate bonds’.
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NewsAurum wants Mappin to be ‘next Tiffany’
Jewellery group Aurum aims to lift sales above £350m this financial year with a plan to turn Mappin & Webb into “the next Tiffany”.
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AnalysisCompetition heats up in Latin American pharmacy sector
Last week saw a major acquisition in Latin America that promises to transform the region’s pharmacy and drugstore sector.
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NewsKim Winser looks globally for Agent Provocateur
Agent Provocateur chairman Kim Winser is in talks with potential franchise partners in Japan and South America to accelerate the lingerie retailer’s international expansion.
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News
Abercrombie & Fitch Q1 sales up 14%
Abercrombie & Fitch has reported first-quarter net sales up 14% to $687.8m (£457m). Total like-for-like sales increased 1%, while net loss for the quarter narrowed to $11.8m (£8m) from $59.2m (£38m) in the same period last year.During the remainder of the financial year, the retailer expects to open Abercrombie & ...
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News
Sears Q1 revenue flat
Sears Holdings’ total revenue for the first quarter of 2010 has hit $10bn (£6.6bn), flat against 2009.Favourable exchange rate benefits from the Canadian stores and a 1.5% increase in domestic like-for-like sales, were offset by the effect of having 63 fewer Kmart and Sears stores in operation.The domestic like-for-like sales ...
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Foot Locker Q1 sales up 5.3%
Foot Locker’s first-quarter sales increased 5.3% to $1.28bn (£900m) compared with the same period last year.Like-for-like sales increased 4.8%. Total sales for the first quarter increased 3%, excluding the effect of foreign currency fluctuations. Net income was $54m (£36m), compared with $31m (£20m) last year.
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News
Reliance Retail in push for value formats
Reliance Retail is implementing a five-year plan to grow its value formats, including Reliance Fresh, Reliance Super and Reliance Mart.Through the programme, the company is adopting the tagline ‘Aapki Khushi Hamari Khushi’ (your happiness is our happiness) and said it will strengthen the presence of multi-formats and other retail channels, ...
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News
Woolworths aquires hardware businesses
Woolworths has acquired Gunns Retail Division in Tasmania and, in a separate arrangement, the Becks Timber & Hardware business.The Gunns acquisition includes five hardware stores in Tasmania, one timber joinery centre, one truss manufacturing plant and a support office.The move is part of the joint venture between Woolworths and US ...
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News
KiK aims for 5,000 stores
Tengelmann-owned clothing discounter KiK is planning to increase its number of stores across Europe from more than 2,900, to about 5,000 within the next five years. This will involve growth in the existing markets such as Germany, Austria, the Czech Republic, Slovakia and Hungary, as well as new market entries. ...
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News
No rush to sell PPR retail operations
According to chief executive François-Henri Pinault, PPR isn’t in a hurry to sell off its retail operations — entertainment and electronics retailer Fnac, household goods retailer Conforama and mail order specialist Redcats.He said: “I will take the time that is necessary to sell off our operations at good conditions.” When ...
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Gap posts £2.2bn Q1 sales
Gap has posted net sales of $3.33bn (£2.2bn) in its first quarter, a rise of 6% on the same period last year. Like-for-like sales increased 4% and net income rocketed 40% to $302m (£200m).Chairman and chief executive Glenn Murphy said: “Fuelled by our strengthened economic model, we are in a ...
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Eroski sales down 6%
Spanish grocer Eroski reported a 6% decrease in gross sales during 2009 to €8.43bn (£7.6bn) as the retailer’s price cuts amid weak consumer confidence weighed on sales.The retailer also reported a net loss of €69m (£62m), a drop of 29% on last year, as Eroski’s results continued to be hit ...
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NewsTopshop eyes Chicago launch as Knightsbridge store opens
Arcadia sets sights on further US Topshop flagships following opening of its latest London store
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AnalysisFood specialists in Canada and US in discount move
For years, discount in North America was dominated by dollar stores and big-box merchants such as Walmart. The European hard discount model did not translate stateside, due to a lack of affinity for private labels and the social stigma of ‘value shopping’.But things are changing. The recession is over, but ...