All International articles – Page 252
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News
Pharmacy Chain 36.6 reports preliminary consolidated sales drop
Pharmacy Chain 36.6 reported preliminary consolidated sales dropped 13.1 per cent in the first half of the year to RUB11.63bn (£222.1m).The company’s retail sales slumped 17.4 per cent on the year to RUB8.8bn (£168m).At the end of June the company had 1,036 pharmacies in 29 Russian regions. It opened six ...
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LVMH records revenue of €7.8bn
Luxury goods retailer LVMH recorded revenue of €7.8bn (£6.7bn) in the first half, reflecting a slight increase against the same period in 2008 despite the global economic crisis and a strong comparable performance.Chairman and chief executive Bernard Arnault said: “The first-half results once again demonstrate the exceptional appeal of our ...
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Wesfarmers has a better outlook for Australian retail sector
Multi-sector retail group Wesfarmers has revealed that it sees a better outlook for the Australian retail sector as global economic conditions start to improve.Chief Executive Richard Goyder said “the world was pretty grim” at the beginning of the year, but added: “It’s certainly better now than it was then.”Goyder added ...
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Brazilian supermarket sales continue to top last year's
Brazilian supermarket sales continued to top last year’s figures in June, according to the Brazilian Supermarkets Association (Abras), leading to increased optimism for growth over the year.Supermarket sales in June increased 4.8 per cent in real terms compared with June last year, the trade group said.Abras raised its forecast for ...
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Staples International president to leave the business
Staples International president Peter Ventress is to leave the business for a chief executive position at an as-yet unnamed UK-based public company.Staples president and chief operating officer Mike Miles will assume Ventress’ responsibilities from September 1, making Miles responsible for all of Staples’ international businesses.Chairman and chief executive Ron Sargent ...
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Casino's Exito business nakes deal with Cafam
Casino is to extend its reach in Colombia through a deal between its Exito business and local grocery and pharmacy group Caja de Compensación Familiar (Cafam).Exito will run Cafam’s 38 supermarkets and hypermarkets, while Cafam will operate Exito’s 91 drugstores, giving it a nationwide presence and a total of 150 ...
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Colruyt posts increased first-quarter sales
Discounter Colruyt posted first-quarter sales up 6.6 per cent to €1.67bn (£1.42bn) against the same period last year.Sales from the group’s retail business activities climbed 7.3 per cent to €1.28bn (£1.09bn). Wholesale and food service sales jumped 10.4 per cent to €287.5m (£244.4m) as a result of the growth of ...
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NewsCrabtree & Evelyn to focus on heritage
Natural beauty retailer Crabtree & Evelyn has restructured its management and will be led from London rather than the US as it refocuses the brand around its English heritage.
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Revenues at PPR decline
Revenues at retail and luxury group PPR declined 3.6 per cent to €9.2bn (£7.9bn) in the first half.At its entertainment fascia Fnac, sales in its home market were down 5 per cent. Fnac’s operations in Belgium, Portugal and Brazil showed solid growth, whereas sales in Spain continued to deteriorate, dropping ...
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Metro's EBIT plummets
Metro’s EBIT plummeted 20 per cent to €307bn (£260.99bn) in the second quarter due to costs associated with its efforts to restructure the business.Sales for the period dropped 3.8 per cent to €15.3bn (£13.1bn) because of currency fluctuations in Eastern Europe.Over the first half, group sales slid 3.2 per cent ...
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Retail sales fall in Germany
Retail sales fell 1.8 per cent month on month in June as the global crisis maintained its grip on Europe’s biggest economy.The drop followed a 1.3 per cent decline in May and contrast with economists’ expectations that the country’s sales would improve slightly or, at worst, be flat in June.On ...
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GalleryPrimark sets sail for new shores
Germany is the latest step on Primark’s path to world domination and, judging by the value-fashion retailer’s debut store in Bremen, its appeal should translate. John Ryan goes to take a closer look
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NewsSpotify attracts high profile investors
Spotify, the digital music download service, is close to securing new funding from investors including the charitable foundation of Hong Kong tycoon Li Ka-shing.
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Bharti Retail to open up to 100 EasyDay stores
Bharti Retail plans to open between 75 and 100 EasyDay stores in 25 cities in northern India by the end of this financial year.The retailer said it will focus on a mixture of small and medium-sized formats in “tier 1 and tier 2” cities.Bharti Retail is also planning to open ...
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Loblaw to acquire T&T Supermarket
Grocer Loblaw is to acquire Canada’s largest Asian food retailer, T&T Supermarket, comprising 17 stores and four distribution centres.The retailer will add about C$500m (£280.1m) in sales to Loblaw’s business, which is paying C$225m (£126m) for the deal, which is expected to complete before the year end.Like-for-likes at Loblaw rose ...
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Top property agent to head Apple growth plans
Apple is expected to ramp up its European property strategy by appointing a leading agent to head its growth plans.
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Savola Group to buy all Géant hypermarkets in Saudi Arabia
Saudi-based Savola Group, owner of Panda retail group, has agreed to pay SR440m (£71.1m) to buy all 11 Géant hypermarkets in Saudi Arabia owned by the Fawaz Alhokair Group, a Casino franchisee.The acquisition will enable Panda to increase its share of the Saudi retail market and lift turnover by 13 ...
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Metro considers alternatives to merger
Metro is considering alternatives to formally merging its Kaufhof department store chain with Karstadt, the department store retailer owned by insolvent group Arcandor.Metro is examining the possibility of renting selected properties directly from owners once Karstadt goes into bankruptcy. A Metro spokesman said the retailer was interested in acquiring the ...
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NewsAmazon takeover to open Zappos up to new markets
E-tailer Zappos has been a household name in the US for some time. The shoe specialist has been on a phenomenal growth path, with sales skyrocketing from $1.6m (£969,820) in 2001 to more than $1bn (£606.1m) last year.
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Avon plans job cuts
Mail order and door-to-door beauty specialist Avon is planning to cut 1,200 jobs over the next four years in a major cost-saving drive.The retailer expects to take on a second-quarter charge of about $90m (£54.5m) for its restructuring plan. The overhaul – which includes focusing on streamlining the business and ...