International retail giant Carrefour has reported “stable” sales of €22.7bn for the first quarter of this year.
17 April 2009
Carrefour reports ‘stable’ first quarter
International retail giant Carrefour has reported “stable” sales of €22.7bn for the first quarter of this year.
BRC demands credit insurance redress at Budget
Half of large retailers say the reduction or withdrawal of trade credit insurance has undermined their ability to trade.According to the British Retail Consortium’s Credit Conditions Survey, 40 per cent of small and medium-sized retailers also say the reduction or withdrawal has undermined their position.Two thirds of larger retailers believe trade credit insurers are not in a position to assess accurately the risk of a supplier not getting paid.Trade credit insurance pro
John Lewis reports strongest week of year
Department store group John Lewis has reported its strongest week of the year to date, with sales down just 1.5 per cent.For the week ending April 11, John Lewis said it had been fortunate “to enjoy a more clement spring for the season as a whole” and trade has done well as a consequence. It said outdoor furniture was up 28 per cent and picnicware up over 50 per cent.Last week the weather dictated a po
Robert Dyas sets out plans after buyout
Hardware chain Robert Dyas has laid out a three-year strategy to revitalise the business after completing a management buyout last week.Chief executive Steve Round, along with turnaround specialist and new non-executive chairman Ian Gray, now wholly own the business after buying out private equity firm Change Capital.The three-year plan includes introducing new product categories, hiring key management roles and continuing to grow market share. Round said the retailer “does not
Suppliers chase deals for unsold Principles product
A battle is being waged between suppliers and retailers over the future of £5m of Principles stock left unsold following the administration of former parent company Mosaic.Ex-Principles directors have set up The Principles Trading Company to pay forward freighters and suppliers with stock on the water.However, Debenhams, which acquired the Principles stock already in warehous
Dorothy Perkins embarks on branded clothing trial
Arcadia-owned Dorothy Perkins has introduced non-own brand products for the first time as it seeks to drive its fashion credentials.The retailer last week introduced apparel brands TFNC and Uttam London into 20 of its stores and on its website. TFNC is also sold in some of stablemate Topshop’s stores while Uttam London is predominantly a wholesaler.TFNC partner Rudy Walji confirmed the trial and added: “We are very excited to be working with Dorothy Perkins on this new business
HMV calls time on trial store at service station
HMV has terminated the service station trial that it launched in April last year.The retailer said it felt there were “better opportunities that we could pursue elsewhere”.HMV said at the time it felt that service stations were an “interesting, low-risk opportunity worth exploring”. The store was located in a service station at the Stanford Intersection on the M20 motorway.HMV already operates outlets in airports and train s
Jane Shilton considers its options after tough year
Shoes and handbag retailer Jane Shilton could be sold as the company explores its financing options.The retailer, which sells via three standalone stores, concessions and online, is “exploring its options”, according to sources. This could include a sale or refinancing.In its last set of accounts at Companies House for the 15 months to June 30 last year, the retailer made a loss after tax of £1.4m. In its accounts, its auditor said: “These conditions indicate the existence of a
Shopping centre plans for Europe slow down
More than 75 million sq ft of planned shopping centre development space in Europe has been axed or put on hold as a result of the global downturn.According to a report from property agency Cushman & Wakefield, about 107.6 million sq ft of new shopping centre space will open across Europe in 2009, 40 per cent less than forecast in July 2008. An even lower amount, 75.3 million sq ft, is expected to open in 2010 – representing the slowest rate of expansion since 2005.The report
Lakeland unveils a new-look store design
Homewares retailer Lakeland has unveiled a new-look store design with the opening of its Durham shop.The 5,000 sq ft shop, which opened last week, features a demonstration kitchen to promote the retailer’s recently-launched own-brand electricals range, alongside an area to showcase kitchen essentials.The centrepiece of the store is a 2-metres diameter chandelier with a depth of 2.5 metres formed of 359 Lakeland products, including metal whisks and spatulas.The store was d
Play.com spurred by sales in home entertainment
E-tailer Play.com has stormed ahead of its sales expectations in the year to date, led by demand for home entertainment products such as DVDs.Chief operating officer Stuart Rowe said: “We are ahead of budget with customers spending in all areas with lower price points. We are not selling as many TVs, for example, but everywhere elseis buoyant.”He added that the products being sold point towards a trend of people staying at home to save money during the recession.Rowe said
Debenhams launches outlet site to tap into shift in shopper habits
Debenhams will launch an outlet store online on Monday, allowing customers all-year-round access to products at prices up to 70 per cent cheaper than in its stores.The site, which can be accessed via the main Debenhams.com website, includes ranges across all categories – 92 per cent of which can be found in stores – at discounts starting at 25 per cent off. It follows the development of a string of outlet websites from retailers inc
Dwell seeks foothold in concessions arena
Mid-market furniture chain Dwell is opening department store concessions for the first time as it seeks to widen its appeal.The retailer opened its first concession in Selfridges on London’s Oxford Street this week, taking a 4,000 sq ft space, and is in talks to open in House of Fraser at Bluewater and O
Spar’s eco-store
Spar will use elements of its store of the future in Northern Ireland in the first Eurospar to open on the mainland next month.The Eurospar store in Ashbury in Bangor, which opened last week, boasts energy-efficient refrigeration, lighting and controls, which help make the store’s carbon footprint 28 per cent less than a traditional shop.The first Eurospar on the mainland will be opened by Tates Local Convenience Shops in Nottingham in May.
Original Factory Shop plans its ‘biggest year ever’ for new stores
Value retailer Original Factory Shop revealed customer numbers were up 12 per cent in the 14 weeks to March 29 as it prepares for its “biggest year ever” for store openings.The 105-store retailer’s like-for-like sales rose 12 per cent over the period, while total sales went up 29 per cent.Original Factory Shop chief executive Angela Spindler said the retailer will open 30 stores this year, up on 18 in 2008.It will open in two former Woolworths sites in Chepstow and Cardig
JD Sports to expand fashion as full-year results impress
JD Sports Fashion chief executive Barry Bown has laid out plans to up the retailer’s fashion offer as he pleased the City with a solid set of full-year results.Bown plans to expand the Bank fascia from 54 to 150 stores in the next five years and will launch transactional Bank and Scotts websites this summer.In the first nine weeks of the new year to April 4, JD’s group sales rose 0.3 per cent on a like-for-like basis, which compared wi
Brokers cut forecasts over concern for Next
Two big brokers have issued bearish notes on Next, fuelled by concerns ranging from the impact of price rises to management continuity and strategy.ING initiated coverage last week with a sell note, just days after Credit Suisse cut its forecasts.Discretionary demand for mid-market clothing and gross margin pressure were among factors that unsettled ING analyst Peter Brockwell.He warned: “Next is heavily exposed to the UK w
Sector shares rise a false dawn, analyst warns
The retail sector’s recent strong share price performance may be outpacing reality, broker Altium has warned.Altium analyst Dave Stoddart said that store shares’ rise in the first quarter was understandable given expectation of economic recovery next year and precedents.But he cautioned: “We are not persuaded that those precedents accurately capture the risks and prospects of the current economic situation. We think there is further bad news to come, particularly relating to une
Burberry downgraded after rally
UBS last week downgraded Burberry from neutral to sell after the upscale fashion group’s stock rose by 30 per cent the previous week.Burberry posts fourth-quarter sales next week and finals in May. “If there is no positive surprise with the trading update, we think the stock may come under pressure,” warned UBS analyst Yasuhiro Yamaguchi.The broker said potential positives might include market share gains and a favourable fore
Brokers unmoved by surging retail stocks
Rocketing store shares prompted open-jawed amazement on the part of some analysts, who are convinced the market has got ahead of itself.Fresh back from his holidays, Pali’s Nick Bubb clocked the “astonishing” surge of the past few weeks but maintained his bear stance.“Green shoots can quickly shrivel and we are sticking with our cautious view of the outlook,” he said. “The next move in the general retailers will surely be down, although the short-term tone will be set by the rea
Men’s fashion brand Boggi enters the UK
Italian menswear retailer Boggi has entered the UK market with a store in the West End of London and plans to open at least four more in the Southeast.It has opened on Jermyn Street – famed for its upmarket tailored menswear stores – and has signed for a second unit on Sloane Square in Chelsea. Boggi began fitting out the 4,500 sq ft store this week with a view to opening in July.Boggi also has plans to roll out at least another three stores in and around the capital, and is loo
Fashion Retail Academy students’ idea to represent UK
An e-tail idea created by students from the Fashion Retail Academy, Updatemywardrobe.com, will represent the UK in the Retail Futures Challenge at the World Retail Congress.The students were asked to come up with a business idea they believe represents the future of the sector and will compete against rivals from Hong Kong and the US in the final.The site would combine social networking with retail, enabling customers to swap ideas and advice, and would carry product from a rang
Japan’s government steps in as spending plummets
Japan’s government last week laid out plans to plough an extra ¥10 trillion (£68.2bn) into attempts to stimulate its ailing economy.Retail sales have been a big victim of the country’s economic travails and fell to their lowest levels for seven years in February.Japan’s finance minister Kaoru Yosano has labelled the economic crisis the worst since the end of the Second World War and retailers face tough trading as the traditionally cautious nation seeks to save and not spend.
Clouds lift as steady first quarter cheers industry
Mood of cautious optimism emerges that trading conditions are starting to stabilise
Amazon opts out of Phorm advertising system
Amazon has requested to opt out of the Webwise behavioural targeting advertising system that has been created by Phorm.The Daily Telegraph reported that Amazon has contacted the company to request that the web pages on all of its domains are not scanned by the Webwise system.It would not comment further on why it had chosen to take this action. However, the system has the potential to pick up on particular items customers are vi
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