All articles by Planet Retail – Page 81
-
News
Australian Woolworths reports sales growth
Multi-sector retailer Woolworths – which operates supermarkets, pubs, and forecourt, liquor and electronics stores – reported group sales growth of 5.4% to AUS$49.59bn (£24.34bn) for 2008/09.Food and alcohol sales increased 9.6% to AUS$32.8bn (£16.9bn), with comparable sales rising 7.4%. New Zealand supermarket sales were up 3.9% on last year, while ...
-
News
Borders reports widening losses
Book retailer Borders reported widening losses of $12.7m (£7.8m) for its second quarter, compared with a loss of $10.5m (£6.4m) for the same period last year.Quarterly sales were $616.8m (£378.1m), down 17.7% from a year ago. Comparable store sales fell 17.9% and 10.8% at Borders superstores and Waldenbooks stores respectively.Chief ...
-
News
Carrefour reports larger than expected loss
Carrefour has reported a larger than expected €58m (£51.1m) loss in its first half, compared with a €747m (£655.7m) profit a year earlier.The grocer plans to spend as much as €600m (£528.8m) on discounts and marketing this year to improve sales in France. Revenue fell 1.6% in the first half ...
-
News
D&S results
Wal-Mart’s Chilean subsidiary, D&S, reported second-quarter sales up 8.9% on the same quarter of 2008, with comparable sales also up, by 8.2%. Profit dropped 18.9% to CLP23.51bn (£26.2m).The retailer, which operates under a number of different formats such as hypermarket Hiper de Lider, said that most of the drop was ...
-
News
Ikea intends to resume planning for expansion in Russia
Furniture giant Ikea has said that it intends to resume planning for expansion in Russia. The change of heart comes after the retailer won a two-year bureaucratic battle to open a mall in the southern city of Samara.Head of Ikea Russia Per Kaufmann believes that the main stumbling blocks are ...
-
News
Shoprite Holdings reports turnover jump
Shoprite Holdings reported that turnover for 2008/09 jumped 24.5% to ZAR59.32bn (£4.68bn), with a 28.1% lift in profits to ZAR2.94bn (£231.9m).Most divisions reported growth, with the notable exception of furniture, which suffered from reduced demand in the face of rising unemployment and high interest rates. The group’s supermarket division ...
-
News
Tengelman posts sales up 3%
Family-owned international retail group Tengelmann posted European sales of €12.36bn (£9.86bn) in its 2008 financial year.Kaiser’s Tengelmann - the supermarket division under strategic review - reported a 3% sales increase on a comparable basis, partly thanks to the ongoing store renovation scheme that will revamp 200 out of about 700 ...
-
News
Barnes & Noble posts 5% decrease in second-quarter sales
Book retailer Barnes & Noble posted a 5% decrease in second-quarter sales to $1.2bn (£700m). Store sales decreased 5% to $1bn (£600m), with like-for-like sales down 6.9% for the quarter.Sales generated by the retailer’s website climbed to $102m (£62m) for the quarter, a 2% increase compared with the year before.The ...
-
News
Lawson and pharmacy chain Matsumotokiyoshi agree to broad joint venture
Convenience retailer Lawson and pharmacy chain Matsumotokiyoshi have agreed to a broad joint venture that will include new stores selling over the counter medicines, in a move aiming to strengthen their competitive edge.The first store is set to open as early as next spring. The stores will combine each company’s ...
-
News
Costco opens first Australian store in Melbourne
US-based warehouse club Costco has opened the doors of its first Australian store.Located in Melbourne, the 155,000 sq ft store attracted more than 1,000 shoppers within the first hour of trading. The store features about 3,600 SKUs comprising groceries, electronics, clothing, DVDs, books and furnishings.Fresh food is predominantly sourced locally, ...
-
News
Escada files for bankruptcy
Fashion house Escada has filed for bankruptcy after it failed to line up financing and an insufficient number of shareholders of the Munich-based women’s clothing and accessories company supported a debt-restructuring plan.The bankruptcy filing will be examined by a judge who will then appoint an administrator. Escada employs more than ...
-
News
Best Denki set for expansion in India and Middle East
Consumer electronics retailer Best Denki will team up with Indonesian construction company Bangun Persada Tata Makmur to open stores in India and the Middle East over the next three to five yearsThe retailer already has 45 overseas stores in eight countries outside Japan, including Singapore and Malaysia, and runs a ...
-
News
Gap drop in profits better than feared
Clothing giant Gap experienced a better than feared 0.4% drop in second-quarter profits. Sales were down across all of the retailer’s divisions, contributing to a 7.3% decline in group net sales to $3.24bn (£2bn). Group like-for-like sales dropped 8%.The higher-end Banana Republic brand’s like-for-like sales fell 15%, while Gap and ...
-
News
Carrefour to invest in greener stores in China
Carrefour is to invest a further Yn50m to Yn60m (£4m to £5m) in greener stores after saving Yn100m (£9m) last year, compared with 2005 – when it first started the energy-saving investments in stores.Carrefour China said: “All of the 139 Carrefour stores in China are in the process of implementing ...
-
News
Matahari continues to experience strong growth
Department store and grocery store operator Matahari, the largest local retailer, continues to experience strong growth. Sales were up 15.3% for the first six months to June 20 to reach IDR6 trillion (£359m).However, operating profits declined due to higher operational costs, such as wages. Sales were supported by the continuing ...
-
News
Office Depot launches flagship store in Kuwait
Office Depot has launched a flagship store at The Avenues Mall, its first in Kuwait. The store covers 9,690 sq ft and offers about 5,000 products and services, including a photocopy, print and ship centre.The store has been opened in partnership with local retailer MH Alshaya and is expected to ...
-
News
Home Depot’s sales plummet
DIY giant Home Depot’s sales plummeted 9.1% to $19.1bn (£11.7bn) during its second quarter. Like-for-like sales were down 8.5%.“Concerns about the housing market, rising unemployment and softness in the overall economy continue to pressure consumers,” said chairman and chief executive Frank Blake. “Our business performed well in a down market, ...
-
News
Shopper’s Stop managing director moves to non-exec role
BS Nagesh, managing director at K Raheja-owned multi-format retailer Shopper’s Stop, is leaving his role and moving into a non-executive position as vice-chairman of the company.As part of a company wide succession planning process Shopper’s Stop chief executive Govind Shrikhande will take over managing director duties from Nagesh and become ...
-
News
Media-Saturn to enter Siberia
Metro Group-owned consumer electronics retailer Media-Saturn, which has been operating in Russia since late 2006, will enter Siberia in the fourth quarter of this year.The retailer runs 15 Media Markt electronics superstores in Russia. At present, Metro Group operates only cash and carry stores in Siberia.
-
News
Lidl slows expansion in Finland
According to Lidl managing director Antti Tiitola, the Schwarz Group-owned discount grocer has slowed its pace of expansion in Finland due to its increasing saturation in the market.The retailer now plans to open just two to five stores each year.Lidl has more than 130 stores in Finland, with an overall ...