All International articles – Page 259
-
News
Target shareholders reject alternative director list
Shareholders in general merchandise retail powerhouse Target last week rejected an alternative list of directors put up by activist shareholder William Ackman.In a heated battle, Ackman, the head of Pershing Square Capital Management, sought to have his own roster of directors, including himself, replace the existing board to better compete ...
-
News
Profits at Office Depot’s North American retail division decline
Operating profits at Office Depot’s North American retail division declined from $82m (£50m) to $81m ($49.4m) in the first quarter to March 28. Like-for-likes plummeted 17 per cent while total sales slumped 16 per cent to $1.4bn (£854.4m).The company, which includes a business solutions arm, reported a net loss of ...
-
News
Grupo Cortefiel appoints new chief executive
Fashion retailer Grupo Cortefiel has appointed Juan Carlos Escribano García-Bosque as its new chief executive.He replaces former chief Anselm Van den Auwelant, who will now take on a new role as non-executive president of the group.Van den Auwelant has driven the mid-market fashion group through an intense international expansion period ...
-
News
Future of Arcandor remains unclear
The future of Karstadt owner Arcandor remains unclear after rival group Metro proposed that it acquire and merge Karstadt’s stores with its own Kaufhof fascia.But Arcandor chief executive Karl-Gerhard Eick remains confident of a state-backed solution after lobbying for a €650m (£564m) loan. Arcandor argues that Metro’s idea could cost ...
-
News
Praktiker chief exec expects German economy to pick up soon
Wolfgang Werner, chief executive of DIY chain Praktiker, has called the bottom of the market in Germany and said he expects the economy there to be picking up soon. Werner said sales had “distinctly stabilised” over April and May, meaning it has “largely” compensated for the sales decline in the ...
-
News
Jysk ramps up expansion plans for China
Danish furniture giant Jysk has ramped up its expansion plans for China, with plans for up to 10 stores next year – an increase on the four it had initially slated.The move will see it take on Ikea in the country, which aims to have nine stores in China by ...
-
News
Luxury retailers struggle as sector’s immunity fails
The usually polished and aloof world of luxury retail has become an unusually tense and anxious place as some of its biggest names battle for survival.
-
News
Fnac to launch second-hand selling section on website
Electricals giant Fnac is to sell second-hand products from a new section of its website. According to reports, the retailer expects the new channel to account for 15 per cent of all online sales within the next 18 months.Fnac, which is owned by PPR, will offer up to 2 million ...
-
News
Shoprite and Pick ’n Pay welcome investigation
Africa’s two largest retailers – Shoprite and Pick ’n Pay – have said they have nothing to hide about their supplier relationships and would welcome an investigation by the Competition Commission.The National Agriculture Marketing Council is expected to recommend an investigation into retailers’ “dominating” role with South Africa’s food producers.Shoprite ...
-
News
Lidl seeks sites in Romania
Discount chain Lidl is looking for store sites as it prepares to enter the Romanian market, according to local media.The German group wants plots ranging from between 43,000 and 86,000 sq ft in towns with 30,000 inhabitants or more. Lidl plans to open stores in Galati, Bistrita-Nasaud, Lasi, Medias and ...
-
NewsClarks to build £20m international web arm
Footwear giant Clarks expects its online operation to become a £20m business in the next year, as it gears up to take the website international.
-
Analysis
The foreign office: why retailers should support staff working abroad
Business trips abroad, often to emerging markets, can be daunting and stressful for staff who do not have the right support. Joanna Perry explains why retailers must consider their duty of care
-
News
Lawson shelves plan to acquire rival
The country’s second largest convenience store chain Lawson has shelved plans to acquire rival am/pm. Lawson said it could not reach an agreement with the US-based competitor.The proposed acquisition would have cost the 9,500-store retailer ¥14.5bn (£97m). As part of the deal, am/pm wanted the majority of its 1,100 stores ...
-
NewsScott Wheway to use Tesco and Boots experience after Best Buy move
US electricals retailer Best Buy will adopt the best practices of retail giants Tesco and Boots when it debuts in the UK next year.
-
News
Arcandor says Metro merger is no alternative to Government aid
Retail group Arcandor said that talks with Metro over a possible merger of the Karstadt and Kaufhof department store chains is no alternative to government aid. Arcandor spokesman Gerd Koslowski said: “Metro would have to bring the money we need for survival and it really doesn’t look like that at ...
-
News
Coles hires UK retail veteran Tony Buffin
Grocer Coles has hired another UK retail veteran, appointing former Boots group financial controller Tony Buffin as its finance director.Buffin was most recently European managing director of Groupe Aeroplan, an international loyalty management company. Previously, he headed Boots’ international healthcare strategy team.Buffin, who takes up his role in July, is ...
-
News
Sales declines hit Gap profits
Sales declines across all four of Gap’s divisions have led to a 14 per cent slump in first-quarter profits at the clothing giant.In the quarter to May 2 earnings were 15m (£135.5m), down from 49m (£156.9m) the year before. First-quarter net sales were $3.13bn (£1.97bn) compared with $3.38bn (£2.13bn) the ...
-
News
Dixy Group reveals net losses
Discount food retailer Dixy Group revealed that net losses last year were RUB324m (£6.6m) compared with a RUB429m (£8.7m) profit in 2007.The losses were mainly due to foreign exchange losses following the rouble’s decline against the dollar-denominated debt in its credit portfolio, amounting to RUB1.07bn (£21.7m).It was also hit by ...
-
News
Woolworths expects profit rise
Food and general merchandise retailer Woolworths expects a 20 per cent rise in full-year profits on the back of the sale of its stake in Woolworths Financials Services.The said its profit growth was aided by the R380m (£28.9m) it made from the sale of its stake. Woolworths is bucking the ...
-
News
Target experiences profit fall
General merchandise retailer Target experienced a profit fall from $602m to $522m (£379.4m to £329m) in the first quarter to May 2.Like-for-like sales in its retail arm deteriorated 3.2 per cent while total sales rose 0.4 per cent to $14.4bn (£9.08bn). It is the fifth consecutive quarter that Target’s sales ...