All International articles – Page 248
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News
Office Depot outlines new strategic initiatives for group
Office Depot has outlined a number of new strategic initiatives for the group.In its North American division, the retailer is reviewing its product mix, reducing dependency on low-margin consumer electricals and increasing the provision of high-margin services such as its Tech Depot Services. It has also increased its private label ...
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Quelle secures financing until end of year
The administrator of Quelle, the mail order unit of insolvent German retailer Arcandor, has said that it has secured financing until the end of the year, paving the way for the business to be sold.The insolvency administrator and creditor banks came to an agreement for Quelle’s factoring, in which banks ...
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News
Moody’s Investors Service forecasts slowing of same-store sales
Moody’s Investors Service forecasts a slowing of the same-store sales declines that have been affecting US department stores in the second half of the year.Despite the slowdown, it is still likely to be a tough period for department stores, with the sector forced to discount heavily in the holiday season ...
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News
Toys R Us introduces video game trade-in programme
Toys R Us has introduced a video game trade-in programme at its stores across the US.Gamers can exchange their used video game titles from almost any system, including classics like Intellivision or the newest platforms, for a Toys R Us gift card to the value of the trade-in. Gift cards ...
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OpinionRetail surgery: Launching a US website
We are looking into launching a US website. Should we dispatch orders from our UK distribution centre or set up locally?
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OpinionUK shopping centres lead the way
For retailers coming into the European market, the UK’s shopping centres are the most appealing place to start.
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News
Family Dollar reveals a 2.6% net sales increase year on year
Discount variety store operator Family Dollar posted results for the fourth quarter ending August 30, revealing a 2.6% net sales increase year on year to about $1.81bn (£1.1bn).Like-for-like sales for the same period increased 1%. Sales for the full year reached $7.4bn (£4.5bn), corresponding to 6% growth year on year ...
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News
China Resources Enterprise posted a 9.6% turnover increase
Grocer China Resources Enterprise posted a 9.6% turnover increase to HK$18.98bn (£1.5bn) at its retail division for the first half ending June 30, although profit attributable to shareholders fell 27.7% to HK$276m (£21.8m).Managing director Chen Lang said: “We will continue to focus on our core businesses in order to solidify ...
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NewsCarrefour pins €600m on revitalising sluggish sales
Recession-related despondency is being tackled at Carrefour with the launch of a new marketing campaign for its struggling French operations.
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News
Auchan has signed an €800m loan
Retail conglomerate Auchan has signed an €800m (£686m) loan after taking double the launch amount.Syndication proved to be straightforward for the supermarket group, which raised more than €1.3bn (£1.1bn) from the market. HSBC, Intesa, Sanpaolo, Natixis and Santander led the transaction.After being increased from €400m (£343m), lenders’ allocations were also ...
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NewsHollister to debut in Scotland with Aberdeen signing
US fashion retailer Hollister is on the verge of signing for its first Scottish store at the new Aberdeen retail development Union Square.
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News
CBD eyes up acquisition prospects
Casino-owned retailer CBD is eyeing up acquisition prospects after receiving a BRL600m (£178m) funding injection.Brazilian bank Itaú Unibanco granted CBD the money after the bank sought to relax a consumer finance venture with the retailer. The bank, which has similar relationships with other Brazilian retailers, wanted to end exclusivity clauses ...
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News
Fast Retailing aims to lift annual sales more than sevenfold
Multinational clothing retailer Fast Retailing aims to lift annual sales more than sevenfold by 2020, to reach ¥5 trillion (£32bn).As well as entering Russia next year with its Uniqlo flagship banner, the retailer wants to add about 100 stores a year in China. The group will also be seeking to ...
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News
Malaysian government moots allowing foreign hypermarket operators to open convenience stores
The Malaysian government is considering allowing foreign hypermarket operators such as Tesco to open convenience stores in the country, domestic trade and consumer affairs minister Datuk Ismail Sabri Yaakob said.Malaysia has eased restrictions on foreign retailers since a 2002 ban on superstores aimed at protecting local traders. While Carrefour, Tesco, ...
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News
FD Lab to launch its own toy brand in Moscow store planned for Hamleys
Retail franchise company FD Lab will launch its own toy brand in the Moscow store Hamleys was planning to make its Russian debut in until talks with FD Lab fell through last month.Skazka, which roughly translates to “fairy tale”, was developed in a matter of weeks and the four-floor store ...
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News
Department store operator Woolworths posts results
Department store operator Woolworths posted results for the year to June and said that consolidated turnover rose 5.5% to R21.18bn (£1.6bn). During the same period, operating profit fell 18.1% to R1.64bn (£124m).Reduced profits from discounted food ranges were offset by improved clothing and general merchandise margins, which came as a ...
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NewsHouse of Fraser sets its sights on overseas expansion drive
House of Fraser is planning to open stores overseas in the next stage of its expansion plans under private equity owner Highland Group.
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NewsInternational the next frontier for Thorntons
Thorntons is exploring export opportunities for its famous chocolate brand, as it seeks to push its business internationally.
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News
Toys R Us has reported on its second quarter
Toys R Us has reported on its second quarter ending August 1. Net earnings increased to $27m (£17m) compared with $13m (£8m) for the second quarter of last year.However, net sales were down, declining 7.4% to $2.57bn (£1.57bn). Like-for-like net sales decreased 7.2% and 3.9% for its domestic and international ...
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News
Slide in US retailers’ sales performance may be slowing
There were encouraging signs that the slide in US retailers’ sales performance may be slowing as retailers released their like-for-like sales for August.Most notably, Target’s like-for-likes improved from a 6.5% year-on-year decline in July to a decline of 2.9% in August.Like-for-like declines at club store operators Costco and BJ’s Wholesale ...