Retail Sector

Blockbuster, Barratts placed under administration

BlockbusterFilm rental chain Blockbuster and shoe shop Barratts have announced that have been placed administration ahead of the crucial holiday shopping season.

The many believe that hundreds of jobs at the retail chains might be at risk as they go under administration. Blockbuster is among a host of popular high-street brands to go under administration while Barratts is going under administration for the third time in just five years. The film rental chain saw only a brief revival under the leadership of Gordon Brothers withers while Barratts was not able to attract the necessary investment.

Alibaba sets record with $5.75bn one day sales on world's largest online shopping event

AlibabaWashington, Nov. 12 - China's biggest online shopping company, Alibaba has reportedly set record in online sales by processing goods worth more than 5.75 billion dollars in one-day shopping free fest.

The unofficial Chinese holiday on November 11 (11/11) came to be celebrated as 'Singles' Day' by unmarried men across the country lamenting their single status with a drink five years back, but it has become the world's largest online shopping event.

According to the New York Times, Alibaba's one-day online shopping record in the world has surpassed by two and a half times the total for American retailers last year on so-called Cyber.

Retailers are looking to start holiday season deals early

Retailers are looking to start holiday season deals earlyRetailers are looking to open the shopping season early this year in order boost sales in the crucial festival shopping season.

E-commerce deals are also starting earlier this year as the retailers are looking boost sales in the difficult year. Wal-Mart Stores are looking to begin its online promotions on Friday, which is a\ month earlier than usual. Wal-Mart Stores, which is the world's largest retailer, has indicated that it is planning to roll out holiday deals for customers much earlier this year through its website.

Several investors expressing interest in acquiring BHS

BHSA host of investors from around the world are looking to take a stake the department store chain run by retail tycoon Sir Philip Green.

Christo Wiese, who is South Africa's third richest man, appears to be the front runner for the firm. Wiese has publically said that he is interested in the company and has teamed up with former Asda boss Andy Bond. Mr Wiese will travel to the UK this week to back the bid but it is believed that he is yet to make contact with Sir Green.

SuperGroup’s retail sales rose 20 per cent in second quarter

SuperGroup group, which is headed by founder Super Groupand beloved of teenagers, has said that it has recorded an increase of 20 per cent in sales during the second quarter of the year.

The company said that its retail sales for the 13 weeks till October of £63.5 million and wholesale revenues rose 16.7 per cent to £53.1million. The total sales of the company was recorded at £116.6million, recording an increase of
18.5 per cent. It is the company's eighth straight rise in electricity.

Spencer's Retail to spice up shopping with Epicuisine

Shashwat GoenkaNew Delhi, Nov 7 : Ever thought of picking up fresh out-of-the-oven bakery items while returning from office? Or buying some freshly chopped vegetables for making pav bhaji at home? To cater to the changing needs and food habits of the busy urban population, RP-Sanjiv Goenka Group's Spencer's Retail has come up with Epicuisine fresh-food hubs with live kitchens to boot.

The food hubs aim to offer customers a "different experience" from other hypermarkets at affordable rates, Shashwat Goenka, sector head of the Rs. 1,400 crore Spencer's Retail, told IANS in an interview.

Sainsbury’s-Tesco dispute to take ASA to court

SainsburyUK's second biggest supermarket, Sainsbury's has indicated that it will seek a judicial review into the decision by advertising watchdog, Advertising Standards Authority not to merit a complaint against its largest rival, Tesco for an advertising campaign.

UK retail sales comes to a halt in October, CBI

UK retail sales comes to a halt in October, CBIThe Confederation of British Industry said yesterday that the retia sales in the UK came to halt during the month of October as supermarkets recorded its largest fall in fall in supermarket sales since the beginning of the year.

The CBI distributive trades survey's retail sales balance fell to plus two compared to a high of 34 reached during the month of September. The economists were expecting a rating of 33 during the month in the UK. The CBI has said that the sales are expected to rise in the coming month and the retailers have increased their orders with the suppliers.

Ikea’s first India store may come up in Greater Noida

Ikea’s first India store may come up in Greater NoidaSwedish retailer Ikea's first furniture store may come up Greater Noida, Uttar Pradesh, Ikea officials's recent meeting with state principal secretary for infrastructure & industrial development, Surya Pratap Singh, suggested.

Some senior officials of Ikea India reportedly met with Mr. Surya and told him that Uttar Pradesh is one of the retailer's priority states and that the retailer would assist in the growth furniture sector.

Ikea officials also assured Mr. Surya that the retailer was committed to generate new opportunities for local manufacturers.

Tesco working to avoid food wastage

TescoSupermarket giant, Tesco is working to review some of its food promotions in order to avoid large amount of food being wasted in the UK.

The UK retailer with strong presence in European markets announced the waste figures for its UK operations for the first time. Tesco said that 68 per cent of salad sold in bags are thrown out while only 35 per cent of it is wasted in the home. It also said that about 40 per cent of apples are wasted much like half of bakery items. Tesco also said that quarter of grapes and a fifth of all bananas are wasted in the country.

ED finds no FDI violations by Walmart

ED finds no FDI violations by WalmartThe Enforcement Directorate (ED) on Thursday announced its decision to close its investigation against Walmart saying it didn't find any violations of FDI (foreign direct investment) norms by the American retail giant.

The ED was asked by the reserve Bank of India (RBI) to look into allegations that Walmart violated the country's FDI norms by investing money in the retail sector years before the country opened the sector for foreign investors.

The federal agency noted that there was lack of clarity on FDI rules regarding multi-brand retail during or before 2010.

WalMart’s absence won’t make difference to Indian retail market: Chidambaram

WalMart’s absence won’t make difference to Indian retail market: Chidambaram The presence or absence of US-retailer WalMart will not make a huge difference to the Indian retail market, Union Finance Minister P. Chidambaram said.

U. S.-based WalMart, the world's largest retailer, recently announced its plans to quit joint venture with Bharti Enterprises.

Alibaba Group to invest US$16 billion in logistics & support

Alibaba Group to invest US$16 billion in logistics & support Alibaba Group Holding Ltd has announced its plans to make huge investments in logistics and support in the coming years to revolutionize China's massive retail industry.

Founded by Chinese entrepreneur Jack Ma in 1999, the group revealed it would invest US$16 billion (RM50.88bn) in logistics and support by the year of 2020, open up the country's interior and bring access to millions of prospective new customers.

Alibaba has been encouraging retailers to become Internet-savvy and reach more and more customers.

No more sops on sourcing norms in retail: Anand Sharma

Anand-SharmaNew Delhi, Oct 12 : Commerce and Industry Minister Anand Sharma Saturday ruled out more concessions on sourcing norms in the policy on retail, saying it will take time to bear fruit and that foreign companies will invest in multi-brand retail.

"In single-brand retail also, it took almost a year for actual investments to come. We are confident that multi-brand will also bring in foreign players," Sharma told reporters while returning from Brunei and Indonesia as part of Prime Minister Manmohan Singh's delegation.

"In the coming months, things will keep rolling on," he said.

First Innisfree store launched in the capital

First Innisfree store launched in the capitalNew Delhi, Oct 10 : South Korean cosmetic brand Innisfree launched its first Indian store here Thursday. It offers a range of products made of green tea, olive, wine and other natural ingredients.

After establishing stores in Hong Kong, China, Japan and Singapore, the brand is making an effort to spread its wings in India. The first store has come up in Khan Market in the capital.

Greggs expects profits to remain stable during next two years

GreggsGreggs bakers have said that it is expecting its profits to remain stable during the coming two years as the baker plans to revamp its stores.

Greggs said that its like-for-like sales fell 0.5 per cent in the 13 weeks till 28 September. The fall is smaller than 2.1 per cent decline in sales on a year to date basis. Investors have also expressed optimism over the rise in sales in the previous seven weeks.

Chief executive Roger Whiteside said that the heat-wave during summer months had affected demand. He said that the changing season has boosted demand and the company has extended opening times by about one hour to

FDI policy can’t be company specific: Anand Sharma

FDI policy can’t be company specific: Anand SharmaReacting to Walmart's comment that its partnership with Bharti is "not tenable," Commerce & Industry Minister Anand Sharma on Sunday declared that foreign direct investment (FDI) policy can not be company specific.

Walmart didn’t furnish requisite documents: Mudgal panel

Walmart didn’t furnish requisite documents: Mudgal panelThe one-man panel that was set up to look into retail giant's Walmart's lobbying activities has expressed its incapability to make an conclusion as the US retailer didn't furnish the requisite documents.

The government had assigned Justice Mukul Mudgal with the task to inquire into allegations that Walmart breached the US Foreign Corrupt Practices Act by greasing the palms of lawmakers in order to get easy access into the Indian retail market.

Sports Direct heads sells 950,000 shares as part of bonus scheme

Sports DirectTwo of the senior executives of Sports Direct, which was recently promoted as the FTSE 100 retailer, have sold around 950,000 under a new bonus scheme.

Chief executive Dave Forsey and finance director Bob Mellors sold 950,000 out of the total one million shares that were bought by them under the scheme. They sold the shares of the leading retailer at the rate of 680p. The share sale raised around £6.5 million each for the two executives and will be added to their £150,000 annual salaries.

Tesco’s profits falls 24.5 per cent in first six months

TescoThe U. K.'s largest retailer, Tesco Plc has said that it has recorded a fall of 24.5 per cent in profits during the first six months of the year.

Experts said that the super market recorded a fall in profits during the period has British households, who are facing a liquidity crunch, moved to budget chains while others switched to Waitrose, Marks & Spencer and Sainsbury's for improved service. Data showed that Tesco's profits fell 24.5 per cent to £1.39billion during the first six months of 2013.




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