More on Me + Em – Page 2567
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AnalysisDollar General streaks ahead with 9,000th store
US-based discounter Dollar General announced the opening of its 9,000th store at the end of July, pushing it further ahead of rivals as the owner of the largest number of stores in North America. Dollar General overtook 7-Eleven’s store tally in 2003 and has not looked back since.
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OpinionMorrisons sets the pace
Morrisons has traditionally been the most shy of the big four grocers towards City analysts, investors and the media. Some believe that has led, in part, to its de-rating.
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NewsApple previews Covent Garden store
Technology giant Apple has shown off its Covent Garden store, which opens to the public at 10am on Saturday.
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NewsFurniture chain Mark Elliot rescued from administration
Furniture chain Mark Elliot has been bought out of administration by investor SKG Capital.
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NewsTesco launches first transactional mobile app
Tesco is launching its first transactional mobile app next week on mainstream handset Nokia Ovi Store.
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NewsDebenhams considers sale and leaseback deals
Department store group Debenhams is reportedly considering a sale and leaseback deal over nine of its stores as it looks to pay off debt and invest further in the company.
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NewsSelect embarks on retail push
Value fashion retailer Select is on a retail drive with plans to open 13 new stores by the end of year.
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NewsPrimark to open second store on Oxford Street
Primark is to open another store on famous shopping destination Oxford Street at the eastern end of the road.
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Costco to expand into five Australian cities
US-based club-store operator Costco intends to expand into five Australian cities, but is having trouble finding sites large enough.Patrick Noone, Costco’s Australian country manager, said: “We are looking for sites in Melbourne, Sydney, Brisbane, Adelaide and Canberra.”Sales at Costco’s first outlet in Australia, opened nearly a year ago, have exceeded ...
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News
Philippines 7-Eleven franchise to double stores
7-Eleven’s local franchise group in the Philippines, Philippine Seven Corp (PSC), expects to reach 1,000 stores in the next three years, doubling its current number.PSC president and chief executive Jose Victor P Paterno said the firm will open 100 new stores this year and a further 130 in 2011. Each ...
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Casino Q2 sales up 8.5%
Grocery giant Casino reported an 8.5% rise in consolidated net sales to €6.98bn (£5.8bn) for the second quarter.Sales in France rose 1.1%, or 0.2% on a like-for-like basis, while international sales jumped 23.6%, or 8.7% like-for-like. Brazil was one of the international highlights, registering a same-store sales increase of 11.3%.Group ...
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Soriana Q2 profits drop 19%
Soriana, the country’s second-largest grocer behind Walmart, reported a 19% drop in net profit in the second quarter to MXP716m (£38m).The slump was attributed to higher financial costs, despite an increase in sales of 6.5% to MXP22.8bn (£1.2bn). This improvement in sales was confined mostly to the central and southern ...
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CVS Q2 revenues increase by 3.7%
Drugstore operator CVS reported revenues in the group’s retail pharmacy segment increased 3.7% in the second quarter to $14.3bn (£9.7bn), with total same-store sales increasing 2.1% over the prior year.Pharmacy same-store sales increased 2.9%, helped by continued growth of its Maintenance Choice prescription offer. Front store same-store sales increased 0.4%, ...
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Metro reports H1 sales increase 2.4%
Metro’s first-half results showed that sales rose by 2.4% to €31.2bn (£25.9bn).In local currencies, sales climbed by 0.6%.EBIT before special items increased by 16.6% to €470m (£390m). Strong sales growth was again reported by electronics superstore chains Media Markt and Saturn, further extending their market leadership. Bestselling items were TVs ...
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Dairy Farm sales up 13%
Pan-Asian retailer Dairy Farm delivered a total sales rise of 13% to HK$4.3bn (£375m), for the six months ending June 30.Net profit was up by 17% to HK$181m (£16m).During the period Dairy Farm continued its expansion, adding 127 outlets to reach 5,198. Acquisitions agreed in Malaysia and Singapore will add ...
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Lotte Shopping profits increase by 15%
Lotte Shopping has reported strong results for the first half.Gross sales rose 14% to KRW6.6trn (£3.7bn), while operating profit rose 31% to KRW590bn (£329m). Net profit grew 15% to KRW452bn (£252m).
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NewsAxed Waterstone’s boss takes home up to £494,000
Former Waterstone’s managing director Gerry Johnson could take home up to £494,000 in the year to April 24, despite being given the chop in January after a poor Christmas sales performance.
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OpinionFive and a half minute limit
It’s no surprise to hear that shoppers don’t enjoy queues, but the question is what are retailers prepared to do about it?