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Carrefour pulls out of Singapore Wednesday, 29th August 2012
Carrefour will close the doors on its Singapore stores this year as it moves to exit non-strategic countries with hopes of freeing up cash to cut its debt and damage to its fledgling European business. According to Reuters, the world’s second largest retailer has announced it will close both of its Singapore hypermarkets by the end of the year, "since expansion and growth perspectives do not allow reaching a leadership position in the medium and long term".
Diptyque signs for Leadenhall Market Thursday, 2nd August 2012
The luxury Parisian perfumer has signed on another store in London, as it looks to bring its cult French fragrances to the British capital. Diptyque is set to open the doors to a brand new shop in the City’s historic Leadenhall Market. Having completed in mid-June, the perfumer will be looking to begin trading within the next few months.
Hamleys £60m sale on the cards? Monday, 9th July 2012
Hamleys, one of Britain’s most iconic stores , is thought to be in talks with Groupe Ludendo, in a £60 million deal that could be signed by the end of the month. According to The Sunday Times, Hamleys has caught the eye of the French toy maker, who runs a network of toy stores across France, Belgium, Switzerland and Spain.
May brings light relief to eurozone retail sales, but stormy outlook remains Wednesday, 4th July 2012
Retail sales in the eurozone rose by 0.6 per cent in May, but the long-term trend showed little relief for the industry. Year-on-year sales at shops across the 17-member eurozone fell 1.7 per cent and by 0.3 per cent in the 27- member European Union. In a note to clients, Olivier Bizimana at Morgan Stanley on Wednesday stated: "Europe's debt crisis is likely to have a lasting impact on consumption.
JD Sports adds more stores to French expansion Tuesday, 3rd July 2012
JD Sports has revealed details of its French expansion strategy as it adds another Parisian store to its portfolio. The sports retailer has leased a new store in the Bay 2 shopping centre in Paris, set to open in February 2013. Cushman & Wakefield have been given sole instruction for the company’s French expansion plans, with the major cities of Marseille, Strasbourg and Toulouse also said to be on the retailer’s roll-out hit list.
IKEA fires French managers in wake of spying probe Saturday, 19th May 2012
IKEA, the world’s largest furniture retailer, has sacked four current and former managers at its French operations after allegations emerged that illegal police files had been used to spy on staff and customers. According to a report by the Telegraph, the firings follow a criminal probe launched by French prosecutors in April.
Hermes continues to soar thanks to Asia sales Thursday, 3rd May 2012
Hermes defied turbulent conditions in the Eurozone to deliver a 17.6 per cent growth in sales for its first quarter. The iconic French brand saw strong growth in the Asia Pacific region, reporting a 22 per cent rise in sales, excluding Japan, for the first quarter. Hermes Chief executive Patrick Thomas told Reuters that he saw no slowdown in demand for luxury goods in China, a market that continues to snap up the heritage label’s products.
L’Occitaine a ‘prime target for takeover’ Monday, 23rd April 2012
French beauty and cosmetics brand L’Occitaine could be just ripe for the picking according to a report by the Wall Street Journal (WSJ) on Monday. Equity analysts at Macquarie told the WSJ that L’Occitane could be an undervalued brand ready for a takeover, with huge potential growth in emerging markets.
LVMH reports 25% rise in Q1 revenue Wednesday, 18th April 2012
Strong sales in Asia and the US were cited as key drivers in LVMH’s 25 per cent rise in revenue for the first quarter. The world’s biggest luxury goods group saw quarterly sales rise 14 per cent on a like-for-like basis to EUR 6.58, with Sephora bringing in the strongest divisional growth.
Carrefour sees strong growth in Latin America offset European struggles Thursday, 12th April 2012
The world’s second largest retailer by revenue saw a slight increase for the first quarter, largely in thanks to strong growth in its Latin American markets. Carrefour on Thursday announced EUR 22.49 billion in sales from January to March, up 1.5 per cent from the same quarter a year before. An 8.1 per cent increase in revenue for Latin America may be a saving grace for the retailer, although sales on the continent only make up 20 per cent of Carrefour’s total revenue.