Waitrose managing director Mark Price reveals the chain is looking at 300 new sites, with a focus on expanding into the North.
New report finds the North-west the worst struck for empty stores, despite an overall improvement for vacancy rates.
Hammerson Plc on Monday announced it had reached a “mutual agreement” with Sheffield City Council to drop plans for a new retail quarter in the northern city.
Sports Direct on Tuesday acquired outdoor specialist Gelert, saving 100 jobs including more than 30 at four stores in Wales. Gelert fell into administration last Friday, putting the jobs of staff at four Welsh stores in Porthmadog, Beddgelert, Caernarfon and Betws-y-coed at risk. However administrators announced yesterday that the company had been acquired by Sports Direct International, in a deal which administrators Grant Thornton said “secured” Gelert “on a new source for the future under new ownership”.
The Wrangler, Lee Jeans and Timberland owner has announced an ambitious growth plan to bring in USD 17 billion in sales by 2017. VF Corp revealed in a recent investor meeting that it is now aiming for a five-year compounded annual sales target of 10 per cent by 2017. In addition, the sportswear group also raised projections for its margins moving from 46.5 per cent 13.5 per cent in 2012 to 49.5 per cent and 16 per cent in 2017 for gross and operating profit respectively.
Dixons Retail on Thursday reported like-for-like sales in its final quarter rose 13 per cent in the UK and Ireland, as strong demand for tablet computers continued. The electrical goods retailer, which also operates Currys, PC World and Dixons Travel, is now expecting year profit to come in at the top end of market expectations.
Salvatore Ferragamo Autumn/Winer 2012 campaign. Luxury Italian fashion house Salvatore Ferragamo revealed a 103 per cent growth in net profit for its first quarter of 2013 to EUR 24 million, compared to the same period a year before. The Florentine company reported a 9 per cent rise in turnover for the quarter to EUR 282 million, and a 29 per cent increase in EBITDA to EUR 39 million.
Hammerson has made yet another investment in the Northern city, spending £136 million acquiring the Victoria Quarter in Leeds. A luxury retail development running through the city centre, the Victoria Quarter is home to Harvey Nichols’ first branch outside of London, as well as ornate, listed arcades housing Louis Vuitton, Vivienne Westwood and Mulberry stores.
Britain’s fourth largest supermarket chain is now expected to report a dip in underlying sales growth for its first quarter, as it faces tougher competition from discounting rivals. With the latest figures from Kantar Worldpanel showing a drop to 11.9 per cent in market share, Morrisons first quarter update on Thursday is likely to bring something of a reality check to the supermarket giant.
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