Discount retailer B&M in line for sale

Simon, Bobby and Robin Arora bought B&M, a discount retailer, in 2005 when it was still a loss making business with less than 20 struggling stores. Seven years on, the company has £1bn of sales, 290 stores and 2m customers a week. The brothers, led by ex-Barclays and 3i executive, Simon, have hired Rothschild to... Continue Reading →

MidEast investors sink $406m into London project

MidEast investors sink $406m into London project An artist's impression of the Kings Reach project in London. UK-based private equity real estate company CIT Group has secured £250m ($406m) from a consortium of Middle East investors to kickstart its 30-storey Kings Reach Tower scheme in London. Work is now set to begin on the project,... Continue Reading →

Nike Drops Amid Slowing Demand From

Nike Inc. (NKE), the world’s largest sporting-goods company, declined after reporting future orders that trailed analysts’ estimates as demand sank in China. Nike fell 1.1 percent to $94.91 at the close in New York. The Beaverton, Oregon-based company’s shares have fallen 1.5 percent this year. - Nike the world’s largest sporting-goods company, reported future orders... Continue Reading →

American Greetings reports quarterly loss

--Acquisition of U.K. retailer Clinton again oppresses bottom line --Executives decline any discussion of going private proposal or future performance --Shares tread water after 17% surge Wednesday (Updates with details from conference call in paragraphs two through six) American Greetings Corp. AM -0.15% swung to a fiscal second-quarter loss as the greeting-card maker continued to... Continue Reading →

Michael Kors luxury beats US economy's blahs

Since his Wall Street debut in December, upscale US fashion designer Michael Kors has seen profits soar and share value almost triple, proof of the luxury sector's resilience amid a torpid economy. The eponymous ready-to-wear brand, launched in 1981 and divided since 2004 into several lines, from the luxury "Michael Kors" to the more accessible... Continue Reading →

Retail Industry Awards 2012 winners

Retail Industry Awards 2012 winners Sainsbury’s scooped five awards at last night’s Retail Industry Awards 2012, held at London’s five-star Grosvenor House hotel on Park Lane. The retailer took the Supermarket of the Year title for the second year in a row, along with awards for Fresh Flower Supermarket of the Year, Multiple Drinks Retailer... Continue Reading →

Three UK retail partners for Barnes & Noble

World’s largest bookseller Barnes & Noble(B&N) have signed partnership deals with Dixons Retail, which owns PC World and Currys; Sainsbury’s and Waitrose, three leading UK retailers. The move is a definite step in consolidating its presence in the UK. The UK retailers will now display and sell Barnes & Noble books. They will also offer... Continue Reading →

Foreign retailers rush into SA

Johannesburg – South African retailers will have to pull up their socks to compete with the international retailers streaming into shopping centres. With European retail markets looking less attractive because of the financial crisis, emerging markets’ retail sectors are in the sights of foreign retailers who want to expand their turnover and improve sales. These... Continue Reading →

Walmart to Enter India Within Two Years

The UK's Tesco and France's Carrefour are expected to follow Walmart's decision to enter the country. Price said Walmart does not have a "blueprint for India", saying that the company has not yet decided where to locate its stores or how many stores there will be. However, Walmart does have plans to expand its partnership... Continue Reading →

online sales help Inditex top forecasts

Fast-changing fashion ranges and a drive to win new customers online and in emerging markets helped Inditex, the world's biggest clothing retailer and owner of the Zara brand, to beat first-half profit forecasts on Wednesday. The Spanish retailer, which runs eight brands including upmarket Massimo Dutti, youth label Bershka and underwear store Oysho, said its... Continue Reading →

Richemont agreed to buy Peter Millar

Cie. Financiere Richemont SA (CFR), the maker of Chloe bags and Dunhill briefcases, agreed to buy Peter Millar LLC, a U.S. maker of luxury sportswear for an undisclosed amount. Richemont expects to complete the purchase in October, and it won’t have a “material” effect on profit in the year through March 2013, the Geneva-based company... Continue Reading →

Primark opens second Oxford St store

Fast fashion retailer Primark has today opened a second store on London’s Oxford Street, one of its biggest stores in the UK. Following the opening of its Marble Arch store in 2007, the new82,400 sq ft flagship is located at the east end of Oxford Street and is spread over four trading floors. Opening ahead... Continue Reading →

Carlyle Group buys stake in Turkish lingerie chain

Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, has acquired a minority stake a Turkish hosiery company, it was announced on Wednesday. Istanbul-based Penti, a hosiery manufacturer and retailer of women’s hosiery, lingerie and swimwear in Turkey, also has 11 outlets in Saudi Arabia, including... Continue Reading →

India strike over supermarket reforms

BBC's Yogita Limaye: ''The government faces a tough challenge to implement the policies'' Opposition parties and trade unions in India are joining in a day-long strike over the government's plan to open the retail sector to global supermarket chains and other reforms. Early reports said that opposition workers had blocked railway tracks in Uttar Pradesh... Continue Reading →

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