All International articles – Page 264
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News
Shopping centre plans for Europe slow down
More than 75 million sq ft of planned shopping centre development space in Europe has been axed or put on hold as a result of the global downturn.According to a report from property agency Cushman & Wakefield, about 107.6 million sq ft of new shopping centre space will open across ...
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NewsFresh & Easy introduces review section to website
Tesco’s US Fresh & Easy operation has introduced a product review section on its website to increase interactivity with its customer base.When shoppers sample a product in stores through the US grocer’s Kitchen Table tasting area, they can then review it online.A Tesco spokesman said: “This launch forms part of ...
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NewsJapan’s government steps in as spending plummets
Japan’s government last week laid out plans to plough an extra ¥10 trillion (£68.2bn) into attempts to stimulate its ailing economy.Retail sales have been a big victim of the country’s economic travails and fell to their lowest levels for seven years in February.Japan’s finance minister Kaoru Yosano has labelled the ...
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News
Target wants 12-member board
Discounter Target is asking its shareholders to vote to limit its board to 12 directors and not 13 as activist shareholder William Ackman would like.Ackman, who runs hedge fund Pershing Square Capital Management, is also a stakeholder in Sears Canada and Borders and holds nearly 8 per cent of Target’s ...
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News
Subhiksha seeks to avoid liquidation
Department store Subhiksha is poised to go to court to avoid liquidation.
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GalleryStore of the week: Zain, Bahrain
Zain, a Bahrain-based phone retailer, has just unveiled a flagship in the Emirate’s Seef Mall. At 3,550 sq ft, this single-floor store has a large footprint by the sector’s standards.
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News
Battle for Sears Canada is hotting up
The battle for Sears Canada is hotting up with reports in the US suggesting that major shareholder Sears Holdings has bought 400,000 shares in the company.The move renewed speculation that it may be plotting a bid for the Canadian arm of its business.In 2006, minority shareholder William Ackman blocked a ...
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News
Casino gains call option on ING stake in Super de Boer
An agreement with ING has given grocer Casino a call option on the bank’s stake in Dutch grocer Super de Boer.
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News
Borders US fears grow as market woes widen losses
Embattled bookseller Borders US has plunged further into the red, prompting some experts in the US to suggest Chapter 11 bankruptcy may be its only chance of survival.The company reported a consolidated loss of $16.2m (£10.9m) in the year to January 31 compared with a consolidated loss of just $400,000 ...
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News
PPR boss trapped in car by employees
Billionaire retailer François-Henri Pinault was held captive in his car for an hour after becoming a victim of the trend for credit crunch boss-napping in France.Pinault, who is chief executive of luxury brands group PPR and husband of Hollywood actress Salma Hayek , was trapped by 50 employees angered ...
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News
Japanese convenience stores expand in China
Aeon is to open its first convenience stores in China, while Seven-Eleven Japan is set to expand its chains there further.
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News
Macy’s credit rating reduced to junk status
Macy’s had its credit rating reduced to junk status by ratings agency Moody’s.
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News
Magnit profits double
Budget food retailer Magnit has reported that profits doubled last year.Sales at Magnit, which operates discounters and hypermarkets in the south and northeast of Russia, rocketed more than 40 per cent to $5.3bn (£3.79bn) from $3.7bn (£2.5bn). Magnit forecast that sales would increase 35 per cent this year.Chief executive Sergei ...
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NewsMothercare to pave way for global e-tailing as sales soar
Mothercare plans to open up its e-tail business globally by enabling customers in all of the 51 countries it operates in to buy online.
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NewsHarrods to open in Kuala Lumpur
Harrods is poised to open a store in the heart of the Malaysian capital’s shopping district in Kuala Lumpur.The iconic department store group will open the store on Saturday within the shopping complex Suria KLCC, which is situated next to the Petronas Towers in Kuala Lumpur.The store, which is called ...
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NewsDSGi responds to rights issue rumours
DSGi has issued a statement on the London Stock Exchange saying that no decision has been taken on whether it will undergo a rights issue.