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Is Costa Coffee preparing a Parisian expansion? Thursday, 25th April 2013
Costa Coffee owner Whitbread is reportedly on the hunt for high street stores in Paris as it looks to expand the chain’s presence across the Channel. The coffee chain, which is the second largest in the world behind Starbucks and the largest in the UK, has been running outlets at a number of travel hubs across Spain, Portugal and the Gare de Lyon rail station in Paris to help test interest in the brand on the continent.
Hermès Q1 profits beat estimates Monday, 22nd April 2013
Iconic fashion brand Hermès on Monday posted first quarter sales ahead of forecasts, as the label reported strong demand for its silks, accessories and ready-to-wear lines. Revenue came in at EUR 856.8 million for Hermès in the three months to 31 March, up 12.8 per cent at constant currencies and above and beyond analysts’ expectations of 11 per cent for the period.
Carrefour Q1 come in flat as tough trading in Europe drags down sales Friday, 19th April 2013
The world’s second largest retailer reported first quarter sales of EUR 20.8 billion, just below expectations as a fall in demand in Spain and Italy hit home. Sales for Carrefour’s first quarter failed to meet the average forecast of EUR 20.9 billion from a poll of Reuters analysts, as the supermarket battled against continued weak demand in its core European market.
Darty to close loss-making Spanish operations Thursday, 4th April 2013
European electrical retailer Darty is set to close its loss-making operations in Spain as part of an on-going turnaround plan. As part of a strategy designed to help the group focus on the profitable businesses in France, Belgium and the Netherlands, Darty on Thursday said it will close its 43 stores in Spain by June at a cost of £30 million.
Dior expands into Vietnam with first flagship store Tuesday, 2nd April 2013
Christian Dior last week opened the doors to its first store in Vietnam, as the company eyes growth in Asia and Australia. The quintessentially French fashion house launched its new flagship on Vietnam’s iconic Trang Ten Plaza shopping centre last Thursday, modelled after Dior’s first address in Paris.
Hermès announces 24.6% rise in year-end sales result Thursday, 21st March 2013
Hermès International SCA on said in a statement on Thursday that it saw a notable 24.6 per cent rise in profit in the financial year of 2012 after increasing their production capability. The profitability came as a surprise to analysts, of which most expected the profit to be EUR1.09 billion.
Qatari investors in talks for Printemps Thursday, 21st February 2013
Printemps, the high-end French department store has caught the eye of Qatari investors who are reportedly involved in exclusive take-over talks with the company. According to Reuters, unnamed Qatari investors have joined forces with Italian businessman Maurizio Borletti to bid for a 70 per cent stake in Printemps, currently owned by Deutsche Bank’s real estate arm RREEF.
Carphone Warehouse beats forecasts as Q3 sales rise 7.8% Thursday, 24th January 2013
Carphone Warehouse's first store in Marylebone. Third quarter sales at Carphone Warehouse stores open over a year rose 7.8 per cent, as strong trading in the UK managed to offset more challenging conditions in France. The results came in comfortably ahead of analysts’ consensus forecast for a like-for-like rise of 4 per cent, according to a company poll, and a 5 per cent gain in the previous quarter.
LVMH denies Bulgari tax avoidance Saturday, 5th January 2013
Luxury retail behemoth LVMH has been forced to deny any wrongdoing after Italian press claimed police carried out an inspection into Bulgari’s tax payments. The prestigious jeweller has been accused of avoiding making tax payments in Italy of more than EUR 70 million, although LVMH watches and jewellery division president Francesco Trapani has denied any wrongdoing.
Kingfisher posts 6% fall in profit Thursday, 29th November 2012
Europe’s largest home improvements retailer posted a 6 per cent fall in third-quarter profit on Thursday, as sales remained “challenging” in the retailer’s key French and UK markets. Kingfisher, which operates B&Q and Screwfix in the UK, along with Castorama and Brico Depot in France and Europe, said it made retail profit of £257 million in the 13 weeks to 27 October, above analysts’ average forecast of £255 million according to a company poll, but below the £273 recorded for the same period last year.