More on Me + Em – Page 2623
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NewsSports Direct stake in Blacks diluted after fundraising approved
Mike Ashley’s Sports Direct has had its stake in Blacks Leisure diluted after the outdoor retailer’s £20m fundraising was approved this afternoon.
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NewsAsda to sell privately prescribed cancer treatment drugs
Asda is to sell privately prescribed cancer treatment drugs on a not-for-profit basis from Monday.
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NewsAmerican Apparel struggles with debts as losses deepen
The future of young fashion chain American Apparel has been thrown into question for the second time in just over a year as the retailer struggles to repay its debts to private equity firm Lion Capital.
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NewsRetail sales up 1.1% in April, ONS says
Retail sales rose 1.1% by value and 0.3% by volume month on month in April, the ONS reported.
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NewsTesco stores escape worst of Thai unrest
Tesco’s stores in Thailand are thought to have escaped the worst of the violence that has engulfed the capital, Bangkok, over the last few days.
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NewsMothercare sales pass £1bn but City profit expectations not met
Maternity specialist Mothercare generated full-year sales of more than £1bn for the first time last year but profits narrowly missed City expectations.
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NewsJD Sports adds to brand stable with Sonneti acquisition
JD Sports Fashion has bought preppy menswear brand Sonneti from the WDT stable of brands.
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Department store Isetan Mitsukoshi posts £435m loss
Department store Isetan Mitsukoshi posted a consolidated net loss of ¥63.52bn (£435m) in the year ended March 31, which the retailer blamed on sluggish consumption and severe competition. The loss compares with a group net profit of ¥4.68bn (£25m) in the previous year. Sales were down 9.5% to ¥1.29 trillion ...
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1,000 Uniqlo stores to open in China
Fast Retailing has announced plans to open 1,000 Uniqlo stores in China within 10 years, generating ¥1 trillion (£7.47bn) in sales.Uniqlo will open a 38,000 sq ft flagship store in Shanghai this weekend, giving it a total of 65 stores in China. Beginning in the fiscal year 2012, Uniqlo will ...
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H&M ito open its first store in the southern hemisphere
H&M is looking at opening its first store in the southern hemisphere. Chief executive Karl-Johan Persson said Brazil and Argentina were “very interesting”, but H&M is also looking at Australia. At present none of the retailer’s 2,000 stores are located south of the equator.Persson confirmed that the retailer has the ...
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Whole Foods Market sales increase of 13.1% in Q2
Whole Foods Market reported that sales rose 13.1% during its second quarter to reach $2.1bn (£1.4bn). Like-for-like sales rose 8.7%, while identical store sales, excluding four relocations, increased 7.7%. EBITDA rose 40% to $182.3m (£126.3m), while net income increased 91.3% to $67.4m (£46.7m).The retailer also announced that John Mackey will ...
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Macy's like-for-likes up 5.5%
Macy’s has reported $5.57bn (£3.85bn) sales in the first quarter, an increase of 7.2% compared with the same period last year. Sales were up 5.5% on a like-for-like basis.Online sales (Macys.com and Bloomingdales.com combined) were up 34% in the period.Net income was $23m (£15.9m), compared to an $88m (£60.9m) loss ...
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Nordstrom like-for-likes up 12% in Q1
Nordstrom has reported that net income rose 43.8% to $116m (£80.5m) for the first quarter ended May 1. Total sales rose 16.7% to $1.99bn (£1.38bn) while like-for-likes were up 12%. Multichannel like-for-likes increased 13.7% while full-line like-for-likes rose 11.7% and direct sales were up 38.7%. Nordstrom Rack like-for-likes rose 1.9%.Nordstrom ...
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Walmart to accelerate its roll-out in India
Walmart plans to accelerate its roll-out of wholesale stores in India. Walmart India chief Raj Jain said the retailer plans to open 10 to 12 wholesale centres in India over the next two to three years, bringing forward an earlier target of five years.The move comes as real estate prices ...
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Carrefour to enter India
Carrefour has announced plans to enter India in July with its first cash-and-carry outlet in New Delhi. The retailer will then open three or four more wholesale outlets around the country by the year’s end.The retailer has sourced properties in New Delhi, Bangalore, Chennai and Hyderabad and will soon sign ...
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Tesco appoints chief executive officer of its Malaysian operations
Tesco has appointed Tjeerd Jegen as chief executive officer of its Malaysian operations. He replaces Chris Bush, who has taken over as chief executive of Tesco Thailand.Jegen will be responsible for all areas of the Tesco Malaysia business, from operations to marketing, finance and corporate affairs, across the division’s 33 ...
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Debenhams to open its first department store in South Korea
Debenhams is expected to open its first department store in South Korea at the end of this year. South Korean retailer Deben said it signed an exclusive deal with Debenhams in October last year to open and operate branches of the department store in the country.
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NewsMenswear sales improve at French Connection
French Connection saw like-for-like retail sales in the UK and Europe fall 1.9% for the 14 weeks ended May 14, but performance was ahead of plan and better than last year thanks to improved gross margin and cost controls.
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NewsGreen light for Leeds Trinity scheme
Land Securities plans to resume work on its 750,000 sq ft Leeds Trinity scheme this year as long as deals which are at an advanced stage are completed.