All articles by Planet Retail – Page 75
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News
Black Friday weekend web and store visitors
195 million shoppers visited stores and websites over Black Friday weekend – the Friday after Thanksgiving that traditionally signals the start of the Christmas selling period in the US – up from 172 million last year, according to the National Retail Federation (NRF).However, the average spend over the weekend ...
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Metro Cash & Carry unveils new portfolio of private-label brands
Metro Cash & Carry has unveiled a new portfolio of private-label brands that it intends to roll out to all the countries in which it operates.The six private labels include Aro, which comprises 700 food and non-food products and Fine Food, with 700 SKUs aimed at independent food traders and ...
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Pinault plans to divest its retail businesses
PPR chief executive François-Henri Pinault told the Wall Street Journal that the group plans to divest its retail businesses including Conforama, Fnac and Redcats.Pinault did not give any details on when the group plans to sell the companies, but said: “The sooner, the better.” He added that about 20 companies ...
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Carrefour in Italy confirms DìperDì fascia converts
Carrefour in Italy has confirmed that it is to convert all of its DìperDì neighbourhood stores to the Carrefour Express fascia as part of its multi-format single brand strategy.The international grocery group’s Italian GS supermarkets are being converted into Carrefour Market at present. Carrefour said that the multi-format single brand ...
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Woolworths expects a strong Christmas trading period
Multi-format Australian retailer Woolworths is expecting a strong Christmas trading period.Chief executive Michael Luscombe said business is “going along quite nicely”. The retailer revealed that net profit could exceed the Aus$2bn (£1bn) mark this financial year and it is still on the lookout for investment opportunities.For its 2010 financial year, ...
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GameStop reports third-quarter total company sales up 8.2%
GameStop has reported third-quarter total company sales up 8.2% to $1.83bn (£1.12bn).New software sales rose 9.4%, while used product sales increased 19.4%, on top of the 19.3% increase in the third quarter of 2008. Like-for-like sales decreased 7.8%, attributable primarily to a decline in new video game hardware sales.
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Carrefour plans to double store in Malaysia by 2012
French Grocer Carrefour plans to double store numbers in Malaysia to 40 by 2012. Chief executive Guillaume de Colonges said the expansion was in line with its strategy of positioning itself to be the top foreign hypermarket operator in the country.He added that the retailer was committed to growth in ...
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Gap profits rocketed 25% in its third quarter
Gap profits rocketed 25% in its third quarter, helped by growing sales at its Old Navy fascia.Total sales rose 1% to $3.59bn (£2.17bn) for the quarter to October 31. Like-for-like sales at Old Navy were up 10% against an 18% fall the year before.The fashion retailer is focused on gaining ...
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Harvey Norman posts a 40% increase in pre-tax profit for the first half
Electricals retailer Harvey Norman posted a 40% increase in pre-tax profit for the first half.Current trading is being driven by strong franchise store sales growth and increased confidence among consumers as the impact of the global financial crisis begins to ebb.Sales for the period jumped 7.7% to AUS$1.93bn (£1.02bn), while ...
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Sears reports £78m net loss
Sears has reported a $127m (£78m) net loss for the third quarter ending October 31.Revenues declined $470m (£288m) to $10.2bn (£6.2bn) due to lower like-for-like sales and 56 fewer Kmart and Sears full-line stores. However, this was partially offset by an increase of $42m (£26m) due to the impact of ...
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Retailers step up their Black Friday efforts
Retailers have stepped up their Black Friday efforts this year in an attempt to attract more shoppers to their stores during the US’s biggest shopping weekend beginning today.Department store group JC Penney (pictured) is offering more than 100 deals, an increase of 15% compared with last year. Walmart is also ...
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Jürgen Kluge to take over as chairman of Metro Group’s supervisory board
The designated chief executive of German conglomerate Haniel, Jürgen Kluge, will also take over as chairman of Metro Group’s supervisory board in 2010.Kluge will be appointed as Haniel chief executive in January and then in a few months to the position at Metro, Haniel’s most important holding.The reshuffle is understood ...
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Media Markt signs joint venture contract with Foxconn Technology Group
Metro Group-owned consumer electronics retailer Media Markt has signed a joint venture contract with Taiwan-based electronics and computer parts manufacturer Foxconn Technology Group.It plans to opens its first store in Shanghai in mid-2010. Foxconn will hold 25% in the joint venture and Media Markt will have 75%. Initially, Media Markt ...
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Celesio reports a 2.9% fall in sales
Healthcare and pharmaceutical company Celesio has reported a 2.9% fall in sales to E2.54bn (£2.26bn) at its Patient and Consumer Solutions division for the first nine months of this year.Growth in local currencies was 6.1%. The division’s EBITDA declined by 3.3% to E218.6m (£194.8m). In local currency terms, this corresponded ...
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Abercrombie & Fitch reports net income drop of 39%
Young-fashion chain Abercrombie & Fitch reported net income dropped 39% to $38.8m (£23.8m) in its third quarter.Net sales declined 15% to $765.4m (£468.9m) while comparable store sales were down 22%.At a divisional level, comparable store sales fell 18% at Abercrombie & Fitch, 22% at Abercrombie Kids, 26% at Hollister and ...
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Sales at Shoppers Drug Mart increase 7.9%
Sales at pharmacy chain Shoppers Drug Mart increased 7.9% to C$3bn (£1.7bn) in the third quarter, with the retailer continuing to experience strong sales growth in all regions of Canada.Excluding tobacco products, same-store sales climbed 4.8%. Prescription sales rose 9.7% to C$1.5bn (£856.4m) during the quarter, accounting for 49.1% of ...
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FamilyMart to acquire Am/pm Japan
Convenience retailer FamilyMart is to acquire Am/pm Japan for ¥12bn (£80.1m) from parent company Rex Holdings.FamilyMart, Japan’s third largest convenience chain, plans to absorb Am/pm next year and will rebrand the stores over the next two years.The chain will be acquired in partnership with its main shareholder Itochu. The merged ...
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Ahold on hunt for targeted acquisitions again
Ahold is on the hunt for targeted acquisitions again.The retailer’s E2.6bn (£2.3bn) cash pile and very low debt levels – net debt stands at about E1.16bn (£1.03bn) – mean it can now pursue growth in new and existing markets.The retailer this month hired operational managers for its European and ...
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Woolworths and Lowe’s win final approval to jointly set up hardware stores in Australia
Woolworths and Lowe’s, the US’s second largest home improvement chain, have won final approval to jointly set up big hardware stores in Australia, acquiring domestic hardware wholesaler Danks Holdings to act as their supplier.The Australian Competition and Consumer Commission said it allowed the takeover to go ahead after Woolworths and ...
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Costco highlights Asia as key growth region
Warehouse club operator Costco has highlighted Asia as a key growth region.In Japan, Taiwan and South Korea, Costco said it has the capacity to trade from 100 stores.In Australia, where it opened its first store in August, the warehouse club operator believe it can reach 20 stores. As a result, ...