All articles by Planet Retail – Page 8
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News
JC Penney to reinstate promotions strategy
JC Penney is to reinstate promotions in a reversal of its year-old strategy of everyday low prices. The shift comes amid declining sales and a shopper backlash against chief executive Ron Johnson’s decision to abandon the hundreds of discounts, coupons and Sales a year the retailer was known for.The retailer ...
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Revenue increase for LVMH’s Selective Retailing division
Revenue at LVMH’s Selective Retailing division, which includes beauty specialist Sephora, rose 22%, or 14% on a comparable basis, to e7.9bn (£6.8bn) in 2012. Profit from recurring operations increased 19% to e854m (£735.9m).The group said it continued to achieve “an excellent level of performance” and made market share gains across ...
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Regis Schultz appointed chief executive at Darty
Consumer electronics specialist Darty has appointed Regis Schultz, at present the head of French retailer But, as its new chief executive effective from May 1. He will take over from Dominic Platt, who has held the position temporarily since Thierry Falque-Pierrotin stepped down in September.
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Austrian Federal Competition Authority raids Spar headquarters
Spar Austria’s headquarters in Salzburg have been raided by the Austrian Federal Competition Authority.According to the retailer, the investigation is targeting the purchasing department.Spar Austria spokeswoman Nicole Berkmann said the grocer was co-operating with the authorities and expects a quick and smooth resolution.Last year, the authorities searched competitor Rewe Group ...
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Auchan to open hybrid drive-thru supermarket
Auchan is to open its hybrid drive-thru supermarket, Multifrais, in Villeparisis, Paris. The 14,300 sq ft store will be beside a motorway, close to a recently opened Auchan Drive, and will focus on fresh and gourmet food.Four food corners will be dedicated to meat, alongside a wine cellar, but the ...
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Thai retailer CP All outlines growth plans
Thai retailer CP All has outlined growth plans for its domestic and overseas markets. It plans to boost investment and expand its 7-Eleven convenience store chain to China and neighbouring countries.In Thailand, CP All intends to spend between Bt6bn and Bt6.5bn (£128.1m to £138.7m) this year opening 500 to 550 ...
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H&M reports sales increase
H&M’s sales including VAT for the full year 2012 rose 11% in local currencies.Net profit for the full year was up 7% to SEK16.87bn (£1.7bn) compared with SEK15.82bn (£1.59bn) in 2011.H&M opened 304 new stores worldwide in 2012 and will add 325 more this year, with the fastest rate of ...
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General merchandise retailer SOK reports net sales increase
General merchandise retailer SOK has reported net sales of e12bn (£10.34bn) for the 2012 financial year, up 5% compared with 2011. Supermarket sales rose 7.3% year on year, but sales in department stores and the automotive trade fell 3.3% and 8% respectively.Retail sales in Finland’s neighbouring countries totalled e466.3m (£401.8m), ...
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Supermarket chain Mega Image opens new-model store
Delhaize Group’s Romanian supermarket chain Mega Image has opened a new-model store in Bucharest. The store is twice as large as an average Mega Image shop with 17,200 sq ft of sales space and differs in its broad assortment, modern layout and signage.The store focuses mainly on fresh food, particularly ...
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Best Buy to close 15 big-box Canadian stores
US-based electronics specialist Best Buy has revealed it will close 15 of its big-box stores in Canada.The initiative is the first step in a three-year strategy to optimise Best Buy’s retail footprint across its markets, according to the company.The retailer plans to open Future Shop small stores, ecommerce banners and ...
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Spar International plans to enter Middle Eastern market
Spar International plans to enter five markets in the Middle East, with the aim of 30 stores in the region by the end of 2015.Eight shops are planned for Abu Dhabi, two for Qatar and one in Lebanon by the end of the year.Spar has teamed up with local retailer ...
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Apple loses market value after weak Christmas
Apple lost more than $50bn (£31.8bn) of its market value last week after shares slumped 12% because of weaker-than-expected iPhone sales at Christmas, reinforcing fears that the retailer and technology giant is losing its dominance in smartphones.Apple posted first-quarter group revenue of $54.5bn (£34.66bn), compared with $46.3bn (£29.44bn) in the ...
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Discounter Dollar General plans 600 new stores across US
Discounter Dollar General plans to open more than 600 stores across the country this year, bringing its total to 11,000. It also plans to recruit 6,000 more employees.Executive vice-president and chief people officer Bob Ravener said: “We’ve been on an aggressive growth pattern. We’ve seen some tremendous opportunities.”
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US clothing retailer Gap prepares to enter India
US clothing retailer Gap is preparing to enter India in 2014.Rajiv Malik, general manager for sourcing in India, would not confirm whether Gap planned to enter the market on its own or with a local partner.
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Aeon shows increasing interest in Asian retail market
Japanese retailer Aeon and a unit of Thailand’s Central Group are thought to be considering a bid for Indonesia’s Matahari department stores.Private equity firm CVC Capital Partners owns a major stake in Matahari’s retail division, and reports suggest it is seeking as much as $3.5bn (£2.23bn) for a buy-out.Aeon has ...
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Gulf Related to open 2.85 million sq ft shopping centre in Abu Dhabi
A $1bn (£635.9m) shopping centre developed by Gulf Related that is larger than any equivalent urban centre in Europe is due to open in August.The 2.85 million sq ft Abu Dhabi-Sowwah Central development will feature luxury shops and restaurants. The Galleria, a 550,000 sq ft space within the complex, is ...
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X5 Retail reports net retail sales growth
Grocery group X5 Retail has reported preliminary consolidated net retail sales growth of 8.3% to RUB490.09bn (£10.34bn) for its full year 2012.The group’s like-for-like sales decreased by 1.4%. Pyaterochka stores, X5’s core format, delivered only 0.5% like-for-like sales growth.Karusel hypermarkets also suffered - like-for-like sales fell 9.9% and revenues slid ...
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Carrefour's Greek franchisee to invest in Serbia
French retailer Carrefour’s Greek franchisee Marinopoulos is planning to invest in Serbia.The retailer will open a flagship store in a new shopping centre in Belgrade. The shop is scheduled to open in a year’s time.
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Ahold US division appoints executive vice-president of merchandising
Grocer Ahold’s US division has promoted Mark McGowan to executive vice-president of merchandising with immediate effect.McGowan was previously executive vice-president of supply chain.
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Grocery retailer Metro to sell part stake in convenience store
Grocery retailer Metro plans to sell 48.2% of its stake in convenience store operator Couche-Tard to BMO Nesbitt Burns, National Bank Financial and TD Securities.Metro chief executive Eric La Flèche said the company made the decision “given the market value of our holdings in Couche-Tard relative to Metro’s total value”.Following ...