All Retail Week articles in March 4 2011 – Page 2
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News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
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News
Rewe Group net turnover up 4% for 2010 to £45.2m
Rewe Group increased its net turnover for 2010 by 4%, up to about e53bn (£45.2m), based on preliminary figures. Sales for the National Full-Range Stores (Rewe supermarkets and Toom hypermarkets in Germany) grew 6.4% over the previous year up to e14.5bn (£12.4bn). The Penny discounters in Germany lost 1.2% in ...
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News
Woolworths to acquire The Cellarmasters Group from Archer Capital for £214.6m
Woolworths is to acquire The Cellarmasters Group from Archer Capital for AUS340m (£214.6m). Cellarmasters is one of Australia’s largest direct-to-home wine retailers and providers of contract bottling and wine services with operations in Australia and New Zealand. The business represents a complementary bolt-on to Woolworths’ existing liquor portfolio, which ...
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News
Dansk total revenue up 3.5% to £6.7bn last year
Dansk Supermarked’s total revenue increased 3.5% to DKr59.3bn (£6.7bn) in 2010, while profit after tax amounted to DKr2.22bn (£254m). Turnover in Denmark rose 1.4% last year, and majority owner A P Møller-Mærsk Gruppen said the retailer increased its market share in groceries. Revenue outside Denmark experienced a growth of 8.3%, ...
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News
Safeway rakes up £366m net income after loss last year
Grocery chain Safeway reported net income for the fiscal year ended January 1, 2011 amounted to $590m (£366m), compared with a net loss of $1.1bn (£682.4m) reported last year. Sales for the full year edged up 0.5% to $41.05bn (£25.5bn). Excluding fuel, identical store sales declined 2% while like-for-like sales ...
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News
Gap Q4 net income up 4% last year
US Fashion retailer Gap has said that fourth-quarter net income rose nearly 4% in 2010 as a result of rising sales abroad, online and at its higher price Banana Republic and lower price Old Navy chains. The retailer reported quarterly net income of $365m (£226.4m). Like-for-like sales did not change. ...
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News
RadioShack net sales up 4.6% to $4.47bn
Consumer electronics retailer RadioShack has reported total net sales and operating revenues for the year ended December 31, 2010 up 4.6% to $4.47bn (£2.77bn), while net income increased 1.1% to $206m (£127.8m). The sales increase was driven by a 4.4% like-for-like sales increase in company-operated stores and kiosks, helped by ...
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NewsKaren Millen targets £500m sales as it splits off from Aurora
Karen Millen is aiming to double sales to £500m in the next five years after parent company Aurora Fashions revealed this week it will be spun off from the rest of the group.
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OpinionIf Primark’s suffering, what about the rest?
Even during the worst of the recession, one thing that remained consistent was that Primark continued to power on as if nothing was wrong.
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AnalysisCome buy with me at airports and rail concourses
Airports and rail concourses are being reinvented as retail destinations across the UK. Mark Faithfull looks at the retail opportunities as operators map out their new strategies
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News
Best Buy to close all Best Buy-bannered stores in China and Turkey
Electricals giant Best Buy is to close all Best Buy-bannered stores in China and Turkey, as well as its headquarters in Shanghai. The move is aimed at saving some $70m (£43.4m) by fiscal 2013. The retailer said its future plans in China would focus on its Five Star operations - ...
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NewsAlworths in the balance?
Future unclear for ‘son of Woolworths’ as founder resigns as director and restructuring looms.
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NewsGrocers angry as UBS slams ‘unfair’ food hikes
Supermarkets could face a competition inquiry because of food price hikes according to investment bank UBS.
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NewsMoss Bros appoints new operations chief
Menswear group Moss Bros has appointed former Musto retail director Paul Rooke as retail operations director.
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OpinionFairtrade fans aren’t fair weather
Despite the recession people are sticking to their values and buying Fairtrade, says Mike Coupe
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NewsAsda hits back at Tesco as price check wars heat up
Asda has hit out against Tesco’s launch this week of an online price checker, arguing that it does not match the “independence and integrity” of the Asda Price Guarantee.
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NewsAsos Marketplace to open portal to overseas sellers
Asos is to open out its Marketplace to international sellers by the end of the year.
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NewsGloomy outlook as retail takes a bad turn
Primark’s unsettling update and a profit warning from HMV put the frighteners on retail sector investors and general stores were sharply down against a flat market.
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NewsBensons Beds boss to step down from role
Bensons for Beds managing director Bill Carrahar is to step down from the retailer after five years in the role.
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NewsDixons planning to open second Black store in central London
Dixons is understood to be opening a second Black store to be located in central London in the second half of this year, following the launch of its trend and fashion-led trial shop in December last year.