Asos launches ventures in Russia and China as profits leap 19%

Asos launches ventures in Russia and China as profits leap 19% Asos chief, Nick Robertson has launched the retailer's £40m long term incentive plan for executives. Photograph Linda Nylind for the Guardian Online clothing retailer Asos is launching businesses in Russia and China and planning a new £40m "tax efficient" pay deal for its top... Continue Reading →

Swedish retail giant H&M seeks India entry

Swedish fashion retail giant H&M aims to open 50 stores in India to tap the South Asian nation's growing middle-class market, an Indian government statement said on Monday. It is the second Swedish chain to seek entry into India after the government last year relaxed legislation to allow foreign retailers to set up shop in... Continue Reading →

Xtra-vision appoints receivers

A receiver is set to be appointed to Xtra-Vision later today. DVD rental store Xtra-vision, which employs 1,023 people across the island of Ireland, has appointed joint receivers. Luke Charleton and Colin Farquharson of Ernst and Young were today appointed receivers to the group. All of the stores will remain open while a buyer is... Continue Reading →

Musgrave Group records sales of €4.9 billion

As the Musgrave Group announces sales of €4.9 billion, chief executive Chris Martin says the company is seeing sales improve in Ireland whereas "economies are weakening" in the UK and Spain. Apr 26 2013 Musgrave Group chief executive Chris Martin said the company 'delivered a good performance' in 2012, against a challenging economic backdrop The... Continue Reading →

Musica continues store closures

Clicks Group says that its music and entertainment retailer, Musica, performed well in results for the six months ended February 2013, and this despite the net closure of eight stores. Clicks Group, which also includes retail brand, The Body Shop, recorded an 11.5% rise in revenue to R8.94 billion, while operating profit of R531.388 million,... Continue Reading →

Ebay opens European headquarters in Dundalk

Facility will employ 1,450 people in the coming years, Paypal president says A new eBay facility will be opened by Taoiseach Enda Kenny and PayPal president David Marcus in Dundalk today. Photograph: Cyril Byrne/The Irish Times Taoiseach Enda Kenny has officially opened Ebay’s new European headquarters in Dundalk. The Co Louth facility will be responsible... Continue Reading →

Coach Profit Tops Estimates

Coach Inc. (COH), the largest U.S. luxury handbag maker, reported fiscal third-quarter profit that beat analysts’ estimates, helped by demand in North America, and said it may sell its Reed Krakoff brand. The shares jumped. Net income rose 6.2 percent to $238.9 million, or 84 cents a share, in the three months ended March 30,... Continue Reading →

Tesco Ireland records 1.9% sales growth

Tesco Ireland reports 1.9% and announces plans to spend €70million in modernising stores this year and in opening six new Express or Metro stores. Apr 17 2013 Tesco Ireland has recorded increased sales of €3.15 bn in the year to 24 February 2013, compared with sales of €3.09 bn in the previous year. This shows... Continue Reading →

Mr Price Expects 20% Surge In Profits

Shares of JSE-listed Mr Price gained 3 percent to R118.98 on Wednesday’s early trade after it said figures for the year ended March would be higher than in the previous reporting period. The clothing retailer said basic earnings per share and headline earnings per share for the 52 weeks ended 30 March this year are... Continue Reading →

Wok&Go gets going

Asian food franchise Wok&Go has launched a search to find 10 new restaurant locations across the UK during 2013/14 Founded in 2007 by former financial analyst Des Pheby, the chain offers a fusion of Thai, Malaysian, Chinese, Japanese and Indonesian food in the form of cooked-to-order noodles, curries, soups and rice meals. Wok&Go currently has... Continue Reading →

H&M to dress the Swedish Olympic 2016 team

H&M to dress the Swedish Olympic 2016 team Swedish retailer H&M has signed a four-year deal to dress the teams at both the Winter Olympics and Paralympics in Sochi 2014, and the Summer Olympics and Paralympics in Rio de Janeiro 2016. Swedish retailer H&M is more used to collaborating with luxury brands like Versace and... Continue Reading →

John Lewis to offer broadband to customers

John Lewis is to challenge communications giants such as BT and TalkTalk with a move to capture a share of the broadband market. Such a move by John Lewis, which has a strong reputation for customer service, would challenge the status quo in a market currently dominated by Phones4U and Carphone Warehouse The department store... Continue Reading →

Pick n Pay to face off with Shoprite

Pick n Pay to face off with Shoprite Recognising the strong buying power of emerging markets in Durban’s outer lying suburbs, Pick n Pay has acquired a property in Chatsworth which will see it go head-to-head with competitor Shoprite’s store on the opposite side of the road. It has taken Pick n Pay longer to... Continue Reading →

WH Smith buys Past Times brand

WH Smith has bought the Past Times brand, the name of the historically-themed gift retailer that last year fell into administration. Smiths' purchase of Past Times comes after the latest failure of the business, which has been a victim of high street turmoil. The books and stationery chain said on Thursday that it had bought... Continue Reading →

Mango Sales Climb

Mango, the Spanish specialty chain, reported today a 20 percent jump in turnover for 2012 — to 1.69 billion euros, or $2.21 billion at current exchange rates. Foreign markets accounted for 84 percent of the total, the company said. With 2,600 stores in 107 countries, Mango opened 197 stores worldwide last year including 17 domestic... Continue Reading →

A bumpy ride for Bed Bath & Beyond

The Buzz - Investment and Stock Market News

Bed Bath & Beyond got a boost Thursday after the home goods retailer reported stronger-than-expected revenue.

While earnings were in line with forecasts, investors cheered the sales figures. Net sales rose nearly 25%, while same store sales — a key metric of consumer spending — nudged up 2.5%

Shares of Bed Bath & Beyond (BBBY) rallied more than 4% Thursday before pulling back.

Some of the retreat could be due to the low same store sales figures. But UBS analysts point out that it was a tough quarter all around for consumer spending and raised their price target on the stock to $68 from $64.

“The notable takeaway for the skeptics was that the company’s gross margin declined at an accelerating rate despite an easier comparison,” analyst wrote in the report.

Still, they kept a neutral rating on the stock so there is a case to be made for…

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Mr Price expects 20% rise in earnings

RETAILER Mr Price on Wednesday said basic earnings per share and headline earnings per share for the 52 weeks ended March 30 were likely to be more than 20% higher than during the previous corresponding period. The company’s shares rallied more than 3% on Wednesday morning to trade at R119.51, from a close of R115.50... Continue Reading →

Qatari investors central to Le Printemps deal

Qatari investors central to Le Printemps deal French luxury retail group Galeries Lafayette plans to link up with Qatari investors to make a counter offer for rival department store group Le Printemps, its CEO told French daily Le Figaro. Galeries Lafayette chief executive Philippe Houze told Le Figaro he hopes Qatari investors will join Galleries... Continue Reading →

Morrisons to cut nearly 700 jobs

Morrisons is planning to cut nearly 700 jobs as it looks to install new cash-handling systems in its 490 stores. The supermarket said the introduction of the new systems is part of an ongoing programme to improve its "competitiveness". Morrisons has started a four week consultation with 689 cash office managers and supervisors about proposals... Continue Reading →

Swarovski launches new concept

Crystal and jewellery retailer Swarovski is launching a new jewellery concept and has appointed Harper Dennis Hobbs to help secure the first UK stores The retailer is finalising strategic plans for the new concept, named Cadenza, and is currently sourcing several London locations. A site at Westfield Stratford City has already been secured. Cadenza offers... Continue Reading →

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