More on Me + Em – Page 2719
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NewsFindel focuses on debt reduction as profits sink
Home shopping and educational supplies specialist Findel suffered a sharp drop in operating profits and made an overall loss due to debt refinancing for the six months to October 3, as the retailer sought to stabilise the business.
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NewsCarpetright set for record UK sales
Floor coverings retailer Carpetright is expected to announce strong interim results on Tuesday following its most recent trading update for the 12 weeks ended October 24, which showed group sales up 10.3%, while like-for-like sales rose 5.6%.
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NewsGame shares battered as like-for-likes crash
Disappointing BRC sales figures for November led to general retail shares underperforming the overall market, although the grocers did better. Like-for-likes were up just 1.8% over the month, hit by mild weather affecting clothing sales and falling food price inflation.
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NewsLaunch of video catwalk lifts sales at My-wardrobe
Online fashion etailer My-wardrobe has launched a video catwalk function for its site and from next year its customers will be able to create and view their own bespoke catwalk shows, by designer, category or trend, through video tagging.
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NewsTraffic-free Oxford Street and Regent Street a success
More than £200m in sales were predicted for last Saturday along Oxford Street and Regent Street in London as the district welcomed over 2 million shoppers for the West End’s fifth traffic-free VIP (Very Important Pedestrians) Day.
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Colruyt Group increases revenue by 7.1%
Grocer Colruyt Group increased revenue by 7.1% to €3.32bn (£2.95bn) in the first six months of its 2009-10 financial year.Operating profit climbed 7.8% to €229m (£204m), resulting in a stable EBIT margin.Profit margins were affected by increased labour costs resulting from wage inflation.The Colruyt fascia achieved revenue growth of 6.6%, ...
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Revenue at pharmacy operator Nepstar declines 9.3%
Revenue at pharmacy operator Nepstar declined 9.3% in the third quarter to Yn556m (£495m), while net income remained stable at Yn7m (£33m).Nepstar chief finance officer William Dai said: “Our ability to consistently generate strong free cash flow demonstrates that our financial health has strengthened throughout the economic recovery and paves ...
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Metcash posts a 36.5% rise in first-half profit
Grocery wholesaler Metcash posted a 36.5% rise in first-half profit, with chief executive Andrew Rietzer describing its grocery alliance business IGA as a “powerhouse” that is performing well against the competition.“The trading environment is strong. However, low price inflation continues to hamper trading opportunities across all of our business pillars,” ...
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Delhaize Group reveals plans to cut operating costs by €300m
Delhaize Group has revealed plans to cut operating costs by €300m (£267m) by 2012 and intends to introduce a more price competitive strategy from 2010 across all its fascias.The Belgium-based group intends to cut operating costs through fascia-specific initiatives and by increasing shared services across the group.Delhaize is also ...
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Grupo Pão de Açúcar acquires 51% stake in Casas Bahia
Casino-owned Grupo Pão de Açúcar has acquired a 51% stake in electricals chain Casas Bahia, a rival to its Ponto Frio fascia.Casas Bahia operates 513 stores in Brazil and focuses strongly on white goods, furniture and electronics.The existing shareholders of Casas Bahia will retain a 49% stake in the retailer.As ...
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Cencosud plans to invest $700m in five South American countries
Cencosud plans to invest $700m in five South American countries as part of its 2010 growth plan.The investment will be distributed among projects Cencosud has in Argentina, Brazil, Chile, Colombia and Peru, according to president Horst Paulmann.Details of how the investment will be distributed among the five countries have yet ...
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Reliance Retail appoints Gwyn Sundhagul as chief exec of value-format division
Reliance Retail has appointed Gwyn Sundhagul chief executive of its value-format division, which includes the Reliance Mart, Reliance Super and Reliance Fresh fascias.Sundhagul was formerly chief marketing officer of Tesco’s Thai subsidiary Lotus. Reliance Retail operates almost 1,000 retail stores throughout India.
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Payless ShoeSource to open its first five stores in the Philippines
Payless ShoeSource is to open its first five stores in the Philippines by mid-next year with franchise partner Stores Specialists.Stores Specialists is the leading fashion specialist in the country, managing 72 high profile brands and 340 retail stores.In the past year Payless ShoeSource has struck franchise agreements for the retailer’s ...
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NewsPhones 4U accelerates store refit programme
Mobile phone retailer Phones 4U plans to ramp up its store refits in the new year with the aim of completing the whole chain by the middle of 2010.
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NewsElton John AIDS Foundation to open a pop-up shop
The Elton John AIDS Foundation will open a pop-up shop called Out the Closet in Covent Garden tomorrow.
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NewsChristmas sales activity picks up
Retailers are cautiously optimistic in the run-up to Christmas although a later than usual rush is likely after disappointing November sales.
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OpinionTesco quietly impresses
Tesco’s trading updates often split the City, and Tuesday’s third-quarter announcement was no exception. Some highlighted that UK like-for-like growth was below expectations, while others reiterated the longer-term benefits of being more than just a UK food retailer.
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AnalysisCan Best Buy dent locals’ dominance in China?
After pursuing cautious expansion in China since opening its first eponymous superstore there in 2006, Best Buy is planning to ramp up expansion in the market next year.
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AnalysisLoyalty cards: The two-way street of loyalty
A month ago Asda chief operating officer Andy Clarke caused a stir in Retail Week by saying there was no place for loyalty cards in retail. Here, in an extract from his new book, Martin Hayward of Dunnhumby, the company behind Tesco’s successful Clubcard, explains why he believes customer insight ...
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OpinionNovember numbers not such a let-down
After the strong sales performances in September and October, November’s weaker sales will add grist to the usual hype that this Christmas will be the worst in ‘x’ many years.