All International articles – Page 260
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Foreign retailers welcome new Indian government
Last week India’s new government, with Manmohan Singh as prime minister, was sworn in in Delhi. Singh and the Congress Party won a decisive mandate with his pledge to tackle the impact of the global economic crisis and by ensuring growth for the country.
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Unexpected profit revealed by Sears
Department store group Sears posted an unexpected first-quarter profit after slashing advertising costs and payroll expenses.The retailer also extended a credit agreement to increase the amount available to $4.1bn (£2.6bn) until March 24, 2010, and $2.4bn (£1.5bn) from March 25, 2010, to June 2012.Net income in the three months to ...
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NewsChapter 11 provisions take shine off Ahold’s US performance
International grocery group Ahold has reported that its US chains Stop & Shop and Giant-Landover delivered their best like-for-like performance “in many years” during the first quarter.
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NewsPuma to axe all but one UK store as it cuts costs after punishing Q1
German sportswear retailer Puma is exiting all but one of its UK stores as part of a major international disposal programme.
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Miss Selfridge expands Gulf presence in Kuwait
Miss Selfridge is to ramp up its presence in the Middle East as it opens its first store in Kuwait.
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Belgian Delhaize to buy final stake in Greek Alfa-Beta
Belgian supermarket group Delhaize is to buy the outstanding 34.7 per cent stake in its Greek subsidiary Alfa-Beta.Delhaize said it would offer E30.50 (£26.88) a share. It became the principal shareholder of Greece’s second-largest food retailer in 1992.Delhaize chief executive Pierre-Olivier Beckers said he intends to operate Alfa-Beta with “no ...
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Retail sales in New Zealand and Singapore fall by record amounts
Retail sales in New Zealand and Singapore have fallen by record amounts, while consumer confidence among Japanese shoppers has risen. Retail sales in New Zealand in the first quarter fell by a seasonally adjusted 1.2 per cent year on year, as consumers face rising unemployment. Retail sales in Singapore fell ...
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H&M had successful April trading
H&M had a strong April, when like-for-like sales climbed 8 per cent and total sales soared 18 per cent.The performance ended eight months of successive like-for-like falls for the fashion giant. Analysts believe H&M was helped by warm weather in its most important markets, such as Germany.A collaboration with UK ...
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Supermarket chain Gimenes to be split between Carrefour and Associação Ricoy
Brazil Carrefour and local operator Associação Ricoy, comprising seven local grocers, will split supermarket chain Gimenes between them in a deal worth BRL60m (£18.9m), according to Gimenes’ creditors.Gimenes filed for Chapter 11 bankruptcy in December. 10 of its 23 units in São Paulo will go to Carrefour for BRL45m (£14.1m), ...
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AnalysisPlanned schemes in Dublin have been hit by retailers' uncertainty
Work on Dublin’s planned schemes has slowed to a snail’s pace as developers struggle to find retailers willing to sign in such uncertain times. Liz Morrell assesses development prospects
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NewsIkea exercises caution as furniture market toughens
Ikea group president and chief executive Anders Dahlvig has offered some words of warning for retailers in the Western world.
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EBay clinches legal victory over L'Oréal
EBay has claimed victory in a Paris court case brought against it by cosmetics giant L’Oréal over counterfeit perfumes on eBay’s website. The court ruled in favour of the internet auction site and said that it was not liable for the fake products and had met its obligations to combat ...
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News
DSGi cuts loose Hungary operation
DSGi has sold its nine Electro World stores in Hungary for e1. All operations and staff will transfer to new owner EW Electro Retail, which is backed by a consortium of investors.
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AnalysisAt Mahon Point in Ireland retailers are fighting the recession
Times may be tough but Cork’s Mahon Point scheme isn’t taking the recession lying down. John Ryan goes to see how it’s wooing shoppers
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Metro seeks government intervention for rival's state support request
Metro has called on the German government to reject a request by its rival Arcandor for state support as it seeks to acquire the latter’s department store chain, Karstadt.Metro chief executive Eckhard Cordes wrote to the government outlining a “commercial solution” that would not need state intervention. Cordes has denied ...
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Hefty restructuring and poor trading hits Kesa
International electricals group Kesa will book restructuring charges of £9m and e10m (£8.8m) respectively at UK arm Comet and Spanish division Menaje Del Hogar.
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OpinionShould UK retailers stay home?
DSGi’s offloading of its Hungarian Electro World business for the princely sum of €1 makes business sense, even if it is another setback to the retailer’s international ambitions.
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AnalysisTesco in Ireland: its toughest market
Faced with a tough economy, strong rivals and sales leaking north of the border, Tesco Ireland has struggled to assert its value stance. So will its counterattack work? Joanna Perry investigates
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NewsDSGi sells Hungary stores for €1
Electricals retailer DSGi has sold its Electro World stores in Hungary for €1.
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Ahold posts strong first quarter net sales growth
Grocery giant Ahold posted strong net sales growth of 15.2 per cent to €8.7bn (£7.8bn) for the first quarter ending April 19, led by a strong performance in its core European and US markets. Its Albert Heijn chain generated net sales growth of 12.3 per cent to €3bn (£2.7bn). In ...