More on Me + Em – Page 2868
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News
Retail sales fall 8.2 per cent
Spanish retail sales fell 8.2 per cent in March. It is the second largest fall on record and the 16th consecutive month of decline as unemployment soared and consumer confidence dropped.
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Pre-tax profits at Metro plummet
Pre-tax profits at grocer Metro plummeted almost 50 per cent in its first quarter to e84m (£74.8m). Sales also fell 2.5 per cent to e15.2bn (£13.5bn) in the three months to the end of March.
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News
Kesko Group's first-quarter sales dip
Kesko Group has recorded first-quarter sales dipped 11.4 per cent year-on-year to E2.02bn (£ 1.96bn). The grocer’s underlying operating profit for the quarter fell by more than 90 per cent to E3.4m (£3m), from E36.6m (£32.6). At its food arm sales rose 4 per cent. However, sales at its home ...
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March consumer spending slides
Consumer spending slid in March, although experts predict recovery is on the way. While consumption rose 0.9 per cent in January and edged up 0.1 per cent in February, it dropped 0.2 per cent in March, on a month-by-month basis. Consumption rose 2.2 per cent over the quarter, on an ...
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News
Sales tumble for two office supplies retailers
Two office supplies retailers have experienced tumbling sales and profits in their first quarter.Office Depot revealed a net loss of $55m (£36.4m) compared with profits of $69m (£45.7m) last year. Total sales plummeted 19 per cent to $3.2bn (£2.12bn). Like-for-likes in its retail division declined 17 per cent, as consumers ...
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News
Quarantined Mexicans boost sales
Mexican retailers have witnessed a sales surge as President Felipe Calderón ordered all 103 million Mexicans to stay at home in a bid to contain swine flu. The five-day quarantine led to shoppers stocking up on food, DVDs and video games.In the northern city of San Luis Potosí, Blockbuster store ...
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News
Shopper’s Stop sales rise 9 per cent
Indian retail group Shopper’s Stop has revealed sales rose 9 per cent to INR3.5bn (£46.9m) for the quarter to the end of March.The group – which operates large-format department stores, home stores and speciality retailers including Mothercare in the country – said margin for the quarter increased 4 per cent. ...
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News
Falabella experiences first quarter profit fall
Store group Falabella suffered a profit fall in its first quarter as global economic turmoil took a toll.The retailer, which runs supermarkets, home improvement stores and department stores in Argentina, Colombia and Peru as well as its domestic market of Chile, reported like-for-like declines of between 2.7 per cent and ...
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News
Carrefour and Reliance Retail discuss joint venture
French retailer Carrefour is in talks with Indian giant Reliance Retail about forming a joint venture.Carrefour has been negotiating to operate in India in partnership with tycoon Kishore Biyani’s Future Group, but no deal has been struck.The French group is now talking to other potential partners, including Aditya Birla and ...
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NewsMichael Murphy becomes Quidco executive chairman
This cashback co-operative hit the headlines last week after Michael Murphy, who shared a £175m earn-out from the sale of Friends Reunited, completed a management buy-in and became Quidco’s executive chairman.
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NewsVision Express profits up despite downturn
Vision Express has reported an uplift in underlying profits in its full-year results as it eyes acquisition opportunities this year.
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NewsMost of senior New Look team to join London HQ
New Look has said 60 per cent of staff affected by the decision to relocate its buying, merchandising and design teams from Weymouth to London have elected to move with the retailer.
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NewsDownturn not as bad as predicted says Next chief executive Simon Wolfson
Next chief executive Simon Wolfson has said the market is bottoming out but said it is premature to call a recovery and that lower VAT was distorting the real consumer picture.
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NewsStella McCartney launches exclusive range at Net-a-Porter
Designer Stella McCartney has launched an exclusive fashion range for e-tailer Net-a-Porter. The 23-piece collection includes shoes, handbags and T-shirts starting from £145.
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News
Abercrombie & Fitch to cut jobs
Fashion retailer Abercrombie & Fitch is to cut 170 roles at its head office in Columbus, Ohio. The retailer will cut 9 per cent of its 2,000-strong positions to reduce costs.Abercrombie & Fitch has suffered from a downturn in sales as US consumers rein in spending. Chief financial officer Jonathan ...
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NewsItaly’s Furla upbeat despite squeeze on luxury market
The outlook for luxury retailers remains uncertain, but some international brands are confident of continued success. Among them is Italian group Furla, which delivered a strong performance last year.
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OpinionWaterstone’s must turn the page
Has HMV’s takeover of Ottakar’s paved the way for Waterstone’s high street domination as opponents of the deal predicted?
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AnalysisDiversification: A lucrative sideline or fatal distraction?
Retailers eager to boost business may expand into categories beyond their comfort zone, but do they risk stretching themselves too far?
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OpinionSix steps to business success
The right incentive schemes are the driving force for motivating staff, says Neil Gillis
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Opinion
What hope for a swift recovery?
The current recession is like no other, says John Richards, retail consultant