All articles by Planet Retail – Page 80
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News
Dollar General reports net sales of $2.9bn
Discount chain Dollar General has reported net sales of $2.9bn (£1.74bn) for its second quarter ending July 31, an 11.2% increase. Same-store sales increased 8.6%.The company reported net income for the quarter of $93.6m (£56.1m), a jump of 237.7%.“The results of our efforts to help customers save time and money ...
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Amazon’s Japanese unit has to deliver books to customers free of shipping charge
Amazon’s Japanese unit has announced that it will deliver books to customers free of shipping charges through at least early November, regardless of order value, to drive sales.All new books and comics will now be mailed for free, but magazines and used books will carry a delivery fee.Depending on results, ...
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The Warehouse announces final results
New Zealand-based retailer The Warehouse has announced its financial results for the 53 weeks ended August 2.The company reported a net profit after tax for fiscal 2009 of NZ$76.8m (£32.5m), compared with NZ$90.8m (£38.4m) in fiscal 2008. Group sales for the year were NZ$1.72bn (£728.3m), down 0.8% on the previous ...
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Auchan create new concept in Russia
French retailer Auchan has created a new concept in Russia called Raduga, which translates as Rainbow.The stores, which are between 5,000 and 7,000 sq m, will be price-orientated discount superstores. Two stores are planned to open in Kalouga and Penza by the end of the year.With this new banner, Auchan ...
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Carrefour enters Iranian market
Carrefour has entered the Iranian market through its franchise partner in the Middle East, Majid Al Futtaim (MAF).MAF has opened a hypermarket in Tehran, in the western district of Ferdows. Like in Pakistan, where Carrefour has been trading for four months, the hypermarket has not opened under the Carrefour banner ...
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Office Depot outlines new strategic initiatives for group
Office Depot has outlined a number of new strategic initiatives for the group.In its North American division, the retailer is reviewing its product mix, reducing dependency on low-margin consumer electricals and increasing the provision of high-margin services such as its Tech Depot Services. It has also increased its private label ...
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Quelle secures financing until end of year
The administrator of Quelle, the mail order unit of insolvent German retailer Arcandor, has said that it has secured financing until the end of the year, paving the way for the business to be sold.The insolvency administrator and creditor banks came to an agreement for Quelle’s factoring, in which banks ...
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Moody’s Investors Service forecasts slowing of same-store sales
Moody’s Investors Service forecasts a slowing of the same-store sales declines that have been affecting US department stores in the second half of the year.Despite the slowdown, it is still likely to be a tough period for department stores, with the sector forced to discount heavily in the holiday season ...
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Toys R Us introduces video game trade-in programme
Toys R Us has introduced a video game trade-in programme at its stores across the US.Gamers can exchange their used video game titles from almost any system, including classics like Intellivision or the newest platforms, for a Toys R Us gift card to the value of the trade-in. Gift cards ...
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China Resources Enterprise posted a 9.6% turnover increase
Grocer China Resources Enterprise posted a 9.6% turnover increase to HK$18.98bn (£1.5bn) at its retail division for the first half ending June 30, although profit attributable to shareholders fell 27.7% to HK$276m (£21.8m).Managing director Chen Lang said: “We will continue to focus on our core businesses in order to solidify ...
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Auchan has signed an €800m loan
Retail conglomerate Auchan has signed an €800m (£686m) loan after taking double the launch amount.Syndication proved to be straightforward for the supermarket group, which raised more than €1.3bn (£1.1bn) from the market. HSBC, Intesa, Sanpaolo, Natixis and Santander led the transaction.After being increased from €400m (£343m), lenders’ allocations were also ...
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CBD eyes up acquisition prospects
Casino-owned retailer CBD is eyeing up acquisition prospects after receiving a BRL600m (£178m) funding injection.Brazilian bank Itaú Unibanco granted CBD the money after the bank sought to relax a consumer finance venture with the retailer. The bank, which has similar relationships with other Brazilian retailers, wanted to end exclusivity clauses ...
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Fast Retailing aims to lift annual sales more than sevenfold
Multinational clothing retailer Fast Retailing aims to lift annual sales more than sevenfold by 2020, to reach ¥5 trillion (£32bn).As well as entering Russia next year with its Uniqlo flagship banner, the retailer wants to add about 100 stores a year in China. The group will also be seeking to ...
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Malaysian government moots allowing foreign hypermarket operators to open convenience stores
The Malaysian government is considering allowing foreign hypermarket operators such as Tesco to open convenience stores in the country, domestic trade and consumer affairs minister Datuk Ismail Sabri Yaakob said.Malaysia has eased restrictions on foreign retailers since a 2002 ban on superstores aimed at protecting local traders. While Carrefour, Tesco, ...
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Toys R Us has reported on its second quarter
Toys R Us has reported on its second quarter ending August 1. Net earnings increased to $27m (£17m) compared with $13m (£8m) for the second quarter of last year.However, net sales were down, declining 7.4% to $2.57bn (£1.57bn). Like-for-like net sales decreased 7.2% and 3.9% for its domestic and international ...
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Slide in US retailers’ sales performance may be slowing
There were encouraging signs that the slide in US retailers’ sales performance may be slowing as retailers released their like-for-like sales for August.Most notably, Target’s like-for-likes improved from a 6.5% year-on-year decline in July to a decline of 2.9% in August.Like-for-like declines at club store operators Costco and BJ’s Wholesale ...
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Cencosud reports a 16% decrease in net sales
Grocery retailer Cencosud reported a 16% decrease in net sales to CLP1.24 trillion (£1.38bn) in its second quarter.The retailer was knocked by the financial crisis and adverse exchange rates in the international markets where it operates.Meanwhile, rival Falabella reported CLP832.8bn (£924.2m) sales for its second quarter, 7.8% lower than the ...
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Lianhua records a 2.2% growth in turnover
China’s largest grocer, Lianhua, recorded a 2.2% growth in turnover to CNY10.98bn (£984.5m) in the first half of the year. However, the impact of the financial crisis and a slump in consumer goods prices meant that same-store sales fell 1.7%.Net profit was up 10% to CNY250m (£22.4m). The group continued ...
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Casino’s first-half net profits hit €231m
French grocer Casino’s first-half net profits hit €231m (£203.5m), up from €229m (£201.8m) in 2008, while operating profit fell 9.1% to €488m (£430m).The retailer now expects to have implemented a €1bn (£881.1m) asset disposal programme by the end of next year. It also plans to strengthen its appeal by developing ...
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Staples announces a 9% increase in sales
Office specialist Staples announced a 9% increase in sales to $5.5bn (£3.37bn) for its second quarter. In North America retail sales decreased 5% to $2bn (£1.23bn).Comparable store sales decreased 5% against 2008, reflecting declines in average order size and weakness in durable categories such as business machines and furniture. Internationally, ...