All International articles – Page 251
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News
First-half sales at Flamingo nosedive
First-half sales at electronics retailer Flamingo nosedived 45% to ROL187m (£38m).Chief executive Stefan Treiber explained the drop had been the result of a decline in the local market, but believed problems would not continue in the second half as costs had been cut, including reducing the number of employees from ...
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News
ICA’s Scandinavian net sales jump
Ahold-owned food retailer ICA’s Scandinavian net sales jumped 5.7% to Skr46.6bn (£3.7bn) for the first half of this year, although operating profit fell 7.7% to Skr484m (£67m). ICA is struggling in Norway, where despite increased sales, its operating loss widened.In the Baltics, net sales in local currency decreased 5.8%, mainly ...
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NewsChange Capital acquires German fashion retailer Hallhuber
Private equity firm Change Capital Partners has acquired German womenswear retailer Hallhuber in a €29m (£25m) deal.
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NewsAhold profits slump in second quarter on divestments
Dutch giant Ahold, operator of US grocery chains Stop & Shop and Giant, has suffered a 42% fall in second-quarter net profit to €195m (£163m).
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NewsWeak consumer confidence continues to hit US retail sales
There was little sign of improvement in consumer confidence in the US as many retailers reported second quarter results yesterday.
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NewsArgos prices 24% more expensive in Republic of Ireland
Argos has been criticised for charging its customers in the Republic of Ireland on average 24% more for its products than shoppers in the UK.
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NewsSurprise fall in US retail sales
US retail sales suffered an unexpected slip in July, when they fell by 0.1 per cent.
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News
Finlay Enterprises has filed for Chapter 11 bankruptcy protection
Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...
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Retail Sales fall again in US
Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...
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News
Williams-Sonoma signs franchise agreement with MH Alshaya Co
San Francisco-based home furnishings and kitchen equipment retailer Williams-Sonoma has signed a franchise agreement with MH Alshaya Co covering the Middle East region. The partnership is expected to open its first four stores under the Pottery Barn and Pottery Barn Kids banners in Dubai and Kuwait next year.The move marks ...
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AnalysisCVS strategy pays off as it storms ahead of rivals
“This is shaping up to be a very good year and we expect an even better 2010.” Such upbeat words have not been heard often in retail this year, but Tom Ryan, chief executive of US pharmacy retailer CVS, has every right to be on a high after turning in ...
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News
Yamada Denki and Kojima announce results
Fortunes were mixed in Japan as consumer electronics giants Yamada Denki and Kojima announced their results for the first quarter ending June 30.Revenue at Yamada Denki rose by just over ¥6bn (£38m) to reach ¥430.68bn (£2.7bn) for the quarter. Despite the rise in revenue, the retailer reported a slide in ...
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News
Otto apologises for wrongly priced goods
Mail order and online retailer Otto has apologised to customers after more than 6,500 orders were placed for laptops at massively discounted prices, owing to a pricing error on its website.A variety of laptops, including MacBooks, worth up to e2,000 (£1,714) were advertised at between e30 and e50 (£25.60 and ...
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News
Argentina: Retailers’ sales suffer
Retailers suffered the worst sales month this year in July, according to the Argentine Confederation of Medium-sized Companies. July retail sales fell 16.1% on a year-on-year basis as shoppers, already downbeat from the recession, stayed away from stores and other public places due to concern about swine flu.Argentina has seen ...
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News
Auchan signs revolving credit facility
Food and general merchandise retailer Auchan has signed an €800m (£686m) revolving credit facility with a syndicate of international banks, according to local press.The transaction raised a total of €1.3bn (£1.1bn) in syndication and was subsequently increased from the launch amount of €400m (£343m).The transaction was led by Banco Santander, ...
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News
Target to bring the management of its ecommerce platform back in house,
Mass merchandiser Target plans to bring the management of its ecommerce platform Target.com back in house, bringing to an end what will be a 10-year outsourcing partnership with Amazon.The retailer expects to launch the new platform in advance of the holiday season in 2011. Amazon and Target linked up to ...
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News
Delhaize Group posts revenue rise
Grocer Delhaize Group posted revenues of €10.2bn (£8.74bn) for the first half of the year, representing a 13.8% rise over the same period last year.With the group’s largest market being the US, sales growth was largely attributable to a strengthening of the US dollar against the euro. Nevertheless, the result ...
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News
Tengelmann to overhaul Kaiser’s Tengelmann supermarket network
Retail conglomerate Tengelmann is preparing to overhaul its German Kaiser’s Tengelmann supermarket network and is considering selling some of the stores in order to lift the network’s profitability, according to local trade press.The chain consists of about 710 stores nationwide, but the review is expected to focus on trimming its ...
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NewsGerman fashion house Escada to file for insolvency
German fashion house Escada has failed to get enough backing for a crucial part of its financial restructuring plans and said it will file for insolvency this week.
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NewsUS sales down 4.7% in July
US retail sales fell again in July marking the 11th consecutive month of sales declines in the country.