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L1 Retail to invest up to $3bn in the retail stars of tomorrow
LetterOne (L1), the international investment business, on Tuesday announced the launch of L1 Retail, a new retail investment arm.
L1 Retail aims to find and develop 21st century retail stars, initially in Europe, including the UK, and in the emerging markets (with the exception of Russia). It will invest up to $3 billion in a small number of retailers that have the...
Retail
Wal-Mart Cuts Costs, Joins Suppliers to Avoid Price Rises
Wal-Mart Stores Inc the world’s largest retailer, is cutting costs and working with suppliers to delay or avoid raising prices as commodity expenses increase, the head of the company’s international unit said. “We find creative ways to work around...
Retail
Best Buy Europe strategy under review
Best Buy is poised to put its European expansion plans on hold, a move that could raise questions over its commitment to electricals retailing in the UK.Best Buy Europe is unlikely to make a final decision by the time...
Retail
Debenhams leads retailers into bout of bid speculation
Bid theories helped lift retailers as the FTSE 100 pushed higher for the seventh time in eight days.The sector found demand after Société Générale tipped Debenhams as a potential private equity target.Debenhams' 12 per cent free cashflow yield and...
Retail
Shoppers Stop to raise funds
Department store Shoppers Stop is planning to raise funds to acquire 32% in group firm and hypermarket chain Hypercity, a top official said. The company is looking at generating Rs 1 billion to Rs 1.2 billion rupees (USD 21.6...
Retail
Shoppers Stop plans 12 new stores over 3 yrs
Department store chain Shoppers Stop plans to open 12 more outlets with a total area of 650,000 sq ft in the next three years by taking advantage of the fall in mall rentals, reversal of service tax thereon and...
Retail
Argos shuts India operation
Argos, part of UK-based home and general merchandise retailer Home Retail Group, has winded up its India operation. Argos entered India in 2007 after signing a franchise agreement with Gateway Multichannel Retail (India) Ltd — a JV formed between...
Retail
Argos staff to go on strike
Rejecting a four per cent hike in pay from Argos’ parent company, Home Retail Group, the chain’s distribution staff has decided to go for a series of 24-hour strikes, escalating to a four-day stoppage.
According to Jennie Formby, national secretary...
Retail
Shoppers Stop to launch Argos catalogue
Leading retailer Shoppers' Stop will be soon rolling out its brand new offering, the HyperCity Argos catalogue, with the pilot project being launched in suburban Mumbai area of Thane.
"It will be a pilot for the suburban Mumbai market. It...
Retail
Home Retail warns of slow growth
Britain's biggest household goods retailer, Home Retail Group, warned of slower second half growth despite a forecast-beating 40 per cent rise lifting its shares by five per cent, media reports said.
However, it cut prices ahead of the upcoming important...
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Latest News
The Luxottica report card for 2022
A look at how the world’s largest eyewear company fared in terms of revenue growth in key regions across...
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