All International articles – Page 258
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News
Neiman Marcus considers selling lower-priced goods
US Luxury department store chain Neiman Marcus will consider selling some lower-priced goods after sales plunged 24 per cent year on year in its third quarter.Although Neiman Marcus will not abandon higher-priced products, it said it would merchandise goods with a greater range of price points.Chief executive Burt Tansky told ...
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NewsIndia offers greatest retail opportunities study shows
India offers the greatest investment opportunities for international retailers, a study has found.
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News
Visa charges to retailers ‘completely unfair’ claims Eurocommerce
EuroCommerce, an intervenor in the appeal loged by Mastercard with the European Court of Justice, has lodged a new complaint against Visa Europe claiming that its charges to retailers are an infringement of European competition law.
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NewsTesco builds Chinese mall
Tesco will open its first shopping centre in the northeastern Chinese city of Fushan later this year.
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News
X5 moots expansion into Ukraine
X5, the largest grocer in Russia, is considering expanding in Ukraine.Group chief executive Lev Khasis said X5 is looking at a “big” merger, which would lead to the issue of new shares. He said the initiative in the country is a “theoretical opportunity” and the retailer has not made any ...
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Wal-Mart will not “accelerate” Marketside openings
Wal-Mart will not “accelerate” openings of Marketside, the store format developed in response to Tesco’s Fresh & Easy US chain.Wal-Mart Stores vice-chairman Eduardo Castro-Wright said: “The test we’ve had in Phoenix, we’re pleased with. Given the current economic conditions we are not accelerating the effort until we have better data ...
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Aggressive Ackman falls flat after failed Target coup
The latest boardroom battle that William Ackman, head of US hedge fund Pershing Square Capital Management, has waged has ended in tears – literally, according to US reports.
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AnalysisNew Wal-Mart chief Mike Duke: ‘This is our time’
Changing consumer habits create opportunities, new Wal-Mart chief Mike Duke believes – but the retailer can’t afford to be complacent. George MacDonald reports from the US
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Comercial Mexicana considers debt for equity swap
Mexican supermarket group Comercial Mexicana is considering a debt for equity swap as part of discussions with its creditors. In October the retailer defaulted on its debt after being hit hard in the global downturn.Comercial Mexicana has been attempting to strike a deal without selling key assets or giving up ...
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News
Dm Drogerie Markt to double its Czech Republic stores
German pharmaceuticals chain Dm Drogerie Markt wants to double the 155 stores it has in the Czech Republic. The retailer’s founder and co-owner Götz Werner said he plans to open 20 stores this year. The Czech Republic arm is owned by Dm Austria, which oversees expansion outside Germany.The move follows ...
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Same-store sales in US decline
Same-store sales declined 4.6 per cent in the US in May, according to a report from Goldman Sachs and the International Council of Shopping Centers. The results were worse than a forecast 3 per cent drop.Among a slew of disappointing like-for-likes, department store group Nordstrom reported a fall of more ...
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Possible expansion into Russia for Wal-Mart
Wal-Mart International chief Doug McMillon has said the retailer is pursuing a variety of options to enter Russia.A delegation from Russia attended the retailer’s associates’ meeting last week and McMillon said Wal-Mart could proceed by acquisition or by opening its own stores, but no time frame has been set. “We ...
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Vishal Retail opens hypermarket in Gondia
Indian retailer Vishal Retail has opened its first hypermarket in the country, in Gondia, western India.The large format store covers more than 10,765 sq ft, selling various brands. The retailer plans to open a second hypermarket in Jalandhar, Punjab this month.Separately, a fire broke out at Vishal Retail’s 300,000 sq ...
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Tommy Hilfiger sales soar
Sales at fashion brand and retailer Tommy Hilfiger – headquartered in Amsterdam – soared 21 per cent to €1.6bn (£1.4bn) in the year to March 31. Retail sales jumped 29 per cent, while wholesaling sales rose 16 per cent.During the year a further 100 standalone stores opened globally, bringing its ...
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Rewe increases sales
Grocery group Rewe increased group-wide retail sales by 10.5 per cent to €49.8bn (£42.9bn) in 2008, it revealed this week, with EBITDA up 8.5 per cent to €1.34bn (£1.15bn).It recorded growth both in its German home market and abroad, but contributions from overseas operations were particularly strong. Sales increases were ...
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Media Markt plans more stores in Turkey
Media Markt, the consumer electronics group owned by German retailer Metro Group, plans to open a further seven stores in Turkey by the end of this year.The move is part of Media Markt’s strategy to become the leader in the Turkish market by 2010. The retailer has opened nine stores ...
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OpinionAn ode to old-fashioned values
The UK has lost sight of the standards that underpin good service, says Lord Kirkham
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NewsArcandor files for bankruptcy protection
German retail group Arcandor has filed for bankruptcy protection after yesterday’s decision by the German government not to provide rescue funds. An administrator is expected to be appointed today.
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Toys R Us acquires the FAO Schwarz toy stores
The world’s largest toy specialist Toys R Us has acquired the FAO Schwarz toy stores for an undisclosed sum.FAO Schwarz, which first opened in 1862, describes itself as the oldest toy retailer in the US. Toys R Us will operate all three FAO Schwarz stores – two in New York ...
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NewsNew Look to revamp all shops as it steams into new markets
New Look is to revamp all of its stores after a successful trial, and move into new markets including Ukraine, Poland and Singapore.