All International articles – Page 263
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News
LVMH denies sale of spirits division
LVMH, the world’s largest luxury goods retailer, revealed first-quarter same-store sales fell 7 per cent and denied reports that it is to sell its wine and spirits division Moët Hennessy.In the quarter to March 31, total sales were flat at E4.02bn (£3.61bn) after demand fell for alcohol, watches and jewellery, ...
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Refinancing package for Escada
Luxury fashion group Escada has arranged a E30m (£27m) refinancing package to help secure its survival. The company said it needed to raise the capital to cover liquidity demands and described the initiative as “urgent and unavoidable”.As well as raising funds, Escada plans to cut its debt and replace a ...
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Interest in Woolworths Germany
Several parties have expressed an interest in Woolworths Germany after the retailer filed for insolvency last month.The department store group, which was backed by British investor Argyll Partners, has received interest from local parties as well as some foreign investors. Administrator Ottmar Hermann is said to be in talks with ...
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Arcandor to restructure
Arcandor, operator of department store chain Karstadt and home shopping group Primondo, is to restructure its business at a cost of €900m (£800.4m) over the next five years.Karstadt will form part of a new management board-level division called Atrys. Arcandor aims to save 5 per cent of its €7bn (£6.23bn) ...
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Australian Woolworths sales climb
Sales at the country’s largest retailer Woolworths climbed 5.9 per cent to Aus$12bn (£5.81bn) in the 13 weeks to April 5.Its Australian Food and Liquor division achieved a 10 per cent hike in sales, with like-for-likes climbing 7.9 per cent. Like-for-likes at its New Zealand Supermarkets arm rose 3 per ...
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Best Denki forecasts profit in current year
Electricals and consumer goods retailer Best Denki has forecast that it will notch up profits of ¥150m (£1m) in the year that began March 1, up from a net loss of ¥3.01bn (£21m).Best Denki blamed weak consumer spending and price deflation for last year’s losses. Sales in the year to ...
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News
Directors leave board of US Borders
Embattled American bookseller Borders is undergoing more upheaval, with directors Edna Medford and Michael Weiss leaving the board.Five of the remaining eight directors have also announced they are to leave, although they will wait until the retailer has found replacements before they go.Borders plans to hire a search firm to ...
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New chief named for Warehouse Stationery
Discount retailer The Warehouse has appointed Mark Powell as chief executive of its subsidiary Warehouse Stationery, following the resignation of Gary Rohloff.Powell has worked at The Warehouse for six years in senior executive roles. Previously he worked at global giants Wal-Mart Canada and Tesco UK. He is general manager of ...
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Uniqlo launches online in China
Fashion retailer Uniqlo has launched online in China on website Taobao.com. The site is part of the Alibaba Group, which is 39 per cent owned by Yahoo.Tadashi Yanai, chairman of Fast Retailing – Uniqlo’s parent company – said the strategy will allow Uniqlo access to Taobao’s 100 million registered users.Uniqlo ...
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NewsWal-Mart plan to cut costs in China raises concerns
Wal-Mart sent a disappointing signal to the Chinese retail market last week when it revealed it was launching a job optimisation programme to reduce staff costs in the country.
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Dollar Tree launches transactional website
Single price point retailer Dollar Tree has launched a transactional website, accessible from its Dollartree.com site. The website is aimed at customers who want to buy in large quantities, and allows users to order cases of products with free shipping if they collect their order from one of the retailer’s ...
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AnalysisGlobal online retail: The world at your fingertips
The online route is allowing many retailers to trade in foreign countries without incurring the expense of a physical launch. Joanna Perry assesses e-commerce prospects across the globe
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Tengelmann to relaunch online store Plus
Grocer Tengelmann plans to relaunch its non-food online store Plus later this year, according to reports. The project will extend the online shop’s product range to around 10,000 items by the end of this year.New product ranges will include electronics, DIY and furniture. The site will also feature innovations such ...
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Retailers’ expansion abroad continued in 2008 despite downturn
International expansion by retailers continued throughout 2008 despite the tough global economic climate, a report has revealed.
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NewsTesco to ramp up telecoms shops
Tesco is to double the number of in-store telecoms shops in its supermarkets by the end of the year.
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UK retains position as most international market
The UK has retained its position at the top of the international market rankings.According to a survey conducted by property agency CB Richard Ellis, the UK is still home to more international retailers than any other market.As part of the study, How Global is the Business of Retail?, 280 retailers ...