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Target to team up with designer Phillip Lim
Target is teaming up with designer Phillip Lim on an exclusive autumn clothing line.
Amazon looks to expand Kindle range
Amazon is reported to be developing a wide range of new hardware devices to expand its Kindle line beyond ereaders and tablet computers.
Rewe Group's Billa supermarket division to exit Italy
German retailer Rewe Group’s Billa supermarket division plans to exit Italy.
Parkson appoints Toh Peng Koon as chief executive
Parkson has appointed Toh Peng Koon as chief executive of its Singapore-listed subsidiary Parkson Retail Asia.
CP All reports first-quarter revenue increase
CP All has reported first-quarter revenue of Bt52.9bn (£1.16bn), up 18.4% as a result of 7-Eleven store expansion in Thailand, growth in average same-store sales and an increase in other operating income.
Esprit hires more staff from Inditex in restructure
Esprit has hired more staff from Inditex. Chief executive Jose Manuel Martínez Gutiérrez, who joined from Inditex last September, said it was vital to revamp the brand and provide value for money and that it would take 18 months to restructure Esprit.
Rakuten records net revenue increase
Rakuten recorded a 15.3% increase in net revenue to ¥68.67bn (£439.2m) for its first quarter ended March 31.
Foot Locker to acquire German athletic retailer Runners Point
Foot Locker is to acquire German athletic retailer Runners Point for e72m (£60.8m).
Metro Group to invest funds into struggling home market
Metro Group is considering an exit from Bulgaria, Egypt, Japan and Kazakhstan, it was reported in Germany.
Casino opens Franprix supermarket
Casino has opened a Franprix supermarket in a motorway service station, adjacent to an Esso petrol station. The store is on the A11 motorway in northern Chartres, southwest of Paris.
Dubai-based Majid Al Futtaim in talks to buy Metro
Dubai-based Majid Al Futtaim (MAF) is in advanced talks to buy Metro, one of Egypt’s largest retailers, from the family owned Mansour Group. A due diligence process for the purchase of the Metro chain and discount grocery banner Kheir Zaman has been concluded.
JC Penney uses social media to win back shoppers
JC Penney is using social media to try to win back shoppers. The troubled department store group acknowledged that customer numbers fell because of former chief executive Ron Johnson’s elimination of coupons and Sales in favour of regular low prices.
OfficeMax comes under fire over merger deal with Office Depot
OfficeMax has come under fire from an investor over its merger deal with Office Depot. Shareholder Eric Hollander has sued the retailer’s directors - including the chief executive and chairman - while seeking to block the deal. He called the proposed $1.2bn (£771.4m) all-stock deal “grossly inadequate”.
Costco wins approval to construct first unit in Queensland
The retailer plans a 150,000 sq ft store, including a petrol station, at North Lakes, north of Brisbane. Costco Australia managing director Patrick Noone said: “We are looking at two or three more sites already as a follow-on.”
Coles group calls for investigation into wholesale pricing
Coles Group and Woolworths are unhappy with charges from multinational FMCG companies. The retailers claim Australian grocers are charged more than their international peers for the same products.
Carrefour and Sabançi Holding to review joint venture
French retailer Carrefour and Turkish partner Sabançi Holding are to reorganise the governance of their joint venture.
Amazon plans distribution hub in Czech Republic
The US-based online giant has chosen the location over Poland because of the country’s modest wages and central European location, according to sources.
Edeka to invest in store modernisation
Co-operative retail group Edeka aims to invest E1.6bn (£1.35bn) in the modernisation and extension of its store network and retail infrastructure, said chief executive Markus Mosa. The investment is a 10% increase on 2012.
Loblaws reports consolidated revenue increase
Loblaws, the country’s largest retailer, reported a 3.8% rise in consolidated revenue to C$7.2bn (£4.58bn) for the first quarter ended March 23. The retailer’s net profit rose 40.2% to C$171m (£108.7m). Overall retail sales rose 3.4% while like-for-likes increased 2.8%.
Alon Holdings Blue Square records revenue increase
Gross revenues of the country’s largest retailer, Alon Holdings Blue Square, increased 3% to ILS3.831bn (£692.6m) in the year ended December 2012.