All International articles – Page 256
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News
Staff recommend Aldi Sud increases branded products
Staff at discount grocer Aldi Sud have “strongly recommended” that the retailer should increase its range of branded products, according to German press reports.The discount grocer – split into two companies in Germany, Aldi Sud and Aldi Nord – is reported to have suffered a 5 per cent fall in ...
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Carrefour and El Corte Inglés ask staff to delay summer holidays
Carrefour and El Corte Inglés are asking their staff to delay their summer holidays in order to avoid hiring temporary staff over the busy summer months.French retail giant Carrefour wants staff to opt to take holiday in October and November, according to trade union sources.Spanish department store El Corte Inglés ...
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Best Denki reveals widening net loss
Electricals retailer Best Denki revealed a widening net loss of ¥1.98bn (£13.4m) in the three months to May 31, compared with a net loss of ¥168m (£1.1m) in the same period last year. Net sales fell 5.8 per cent to ¥79.4bn (£535.8m).Founded in 1953, the retailer sells discount electricals and ...
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Suning poised to buy stake in Laox
China’s second largest home appliance chain Suning is poised to buy a ¥800m (£5.4m)stake in struggling Japanese consumer electronics retailer Laox. Suning will acquire 66.7 million shares at ¥12 (8p) a share. The deal will give it a 27 per cent holding, making it Laox’s largest shareholder. A formal arrangement ...
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Rakuten chases overseas sales
Rakuten, Japan’s largest e-tail site, is chasing overseas sales as revenue from international shoppers grows at 19.7 per cent a month.Rakuten president Hiroshi Mikitani expects international sales to hit $1m (£621,300) a day by the end of the year. The e-tailer was founded in 1997 and has 47 million members ...
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Promotion planned for Metro chief financial officer
Metro plans to promote its chief financial officer Thomas Unger to the role of deputy chief executive early next year, according to local reports.Unger will be tasked with overseeing Metro’s restructuring programme “Shape 2012”, which will result in 15,000 job losses and aims to increase profits by €1.5bn (£1.3bn).He will ...
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NewsIkea cost cutting prepares it for renewed success
Ikea has made an unprecedented number of job cuts as it faces declining sales for the first time in its 65-year history. However, industry observers do not believe the world’s largest furniture retailer is on the wane.
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Department stores' sales suffer in June
Department stores have revealed lacklustre sales in June.Neiman Marcus reported total sales fell 19.4 per cent during the five-week period. Sales declined to $323m from $401m (£200.7m from £249.1m) the year before. Like-for-like sales at the group, which also includes Bergdorf Goodman, fell 21 per cent.Macy’s posted a 9 per ...
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Reliance Retail Digital to expand and launch private-label electricals
Reliance Retail Digital is to open a further 21 outlets this financial year and plans to launch private-label electrical products within months.The retailer has 14 stores at present, in cities including Mumbai, Jalandhar, Bangalore and Chennai.Reliance Retail Digital president and chief executive Ajay Baijal said that although there are risks, ...
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Gap to launch in Thailand next spring
Gap will launch in Thailand next spring after signing a franchise agreement with Armin Systems. Gap also said that comparable store sales in June were down 10 per cent, while total sales fell 9 per cent to Story text.29bn.Store sales for Banana Republic in North America fell the most on ...
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Seven & I reports a 28 per cent slump in profits
The country’s largest retailer Seven & I reported a 28 per cent slump in profits to ¥23.7bn (£146.9m) in the three months to the end of May as the country feels the full force of the recession.Sales at the retailer, which operates the 7-Eleven convenience store chain, Ito-Yokado supermarkets fascia ...
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Amazon could face £73.8m tax bill in Japan
E-tail giant Amazon could face a $119m (£73.8m) tax bill in Japan for unreported income over a three-year period.Local reports said that Japan’s tax bureau judged that because part of Amazon’s operations are Japan-based, an income report of tens of billions of yen should have been submitted and therefore would ...
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Celesio’s acquisition of a majority stake in Pharmexx has been approved
The European Commission’s antitrust panel has approved German pharmacy giant Celesio’s acquisition of a majority stake in Pharmexx.Celesio revealed in March its intentions to increase its shareholding in the company from 30 per cent to 65 per cent. Pharmexx provides marketing and sales solutions to pharmaceutical and biotech companies.The deal ...
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NewsMysears.com: Sears adopts OpenID platform
US retail giant Sears has adopted the OpenID platform to more closely connect the social networking sites it runs for its Sears and Kmart chains with sites such as Facebook, Twitter and MySpace.
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Escada to consider state aid request to secure growth
Luxury fashion house Escada will consider requesting state aid to secure its long-term growth if it is successful in securing refinancing to avoid insolvency.The beleaguered group, a favourite of celebrities such as Demi Moore and Katie Holmes, is asking investors to forego more than half of their investments in a ...
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Arcandor receives interest in its mail order division
Insolvent retail and tourism group Arcandor has received interest in its mail order division Quelle, according to its administrator.Joerg Nerlich, who is part of the insolvency administration for Arcandor, said that measures would be taken to restructure the unit, including potential job cuts.Quelle secured a E50m (£43.1m) rescue aid loan ...
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GalleryStore of the week: Michael Kors, New Bond Street
American fashion brand and retailer Michael Kors has dipped its toe in the distinctly chilly waters of standalone stores with the opening of its first UK shop, in a unit on New Bond Street.
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NewsThird profit warning puts Carrefour under spotlight
Carrefour, the world’s second biggest retailer, last week issued its third profit warning in just 12 months.
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Wal-Mart customers to vote on what products are stocked
Wal-Mart customers will be able to vote on what products the retail giant stocks as part of a new initiative due to launch in the autumn.Shoppers will be able to vote on non-perishables in an effort to empower customers and ensure it stocks the right products. The customers to vote ...
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Eurozone retail sales decline further than expected
Eurozone retail sales declined further than expected in May, dropping 0.4 per cent month-on-month, worse than the 0.1 per cent fall that was expected.In the 16-country currency area, the European Union statistics office said sales decreased 3.3 per cent year-on-year, compared with the 2.7 per cent fall anticipated.Sales of non-food ...