Latest Intelligence on Department Stores

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Type Product title / description Pub Price
CommentWire
CommentWire

Arcandor: sliding deeper into the red

Germany-based retail and travel company Arcandor saw its financial position deteriorate in the quarter to December 31, 2008 as costs accumulated due to restructuring work at Thomas Cook and its mail order arm saw losses of E58m (group EBIT). Although the sales performance of department store Karstadt has stabilized, Verdict Research is skeptical as to whether this signals a sustainable turnaround.

Published By Datamonitor
13 Feb 2009
Expert View
Expert View

John Lewis Partnership: results hit by tough trading conditions

Reporting full year results up to January 2009, the John Lewis Partnership confirmed that tough trading conditions in 2008 had impacted both of its divisions, although department store John Lewis fared worse than supermarket Waitrose. The former's operating profits fell by 27.4% and current trading indicates that there is another tough year ahead.

Published By Datamonitor
13 Mar 2009
CommentWire
CommentWire

Debenhams: positive sales and margins

Despite the volatility of the market and negative like-for-likes, Debenhams produced an upbeat trading statement with many positives; it is taking share from competitors, improving gross margin, controlling costs and reducing its net debt, albeit by small increments. Furthermore, Debenhams' investment in own brand is paying off, and will underpin H2 performance.

Published By Datamonitor
17 Mar 2009
CommentWire
CommentWire

Syrian economy: liberalization offers new retail opportunities

Until last year, the Syrian retail sector lacked big malls and associated hypermarket chains because the importation of foreign consumer goods and electronic items was banned. However, the Syrian government has gradually liberalized import restrictions and many foreign goods have been removed from the list of banned items, leading a number of Gulf retail groups to consider entering the country.

Published By Datamonitor
17 Mar 2009
CommentWire
CommentWire

Debenhams: own bought ranges drive profit growth

Debenhams' strategy of increasing its own brand mix, combined with improvements in product and visual merchandising, appears to have been successful. The retailer will introduce new own bought ranges, and with further online developments in the pipeline, Debenhams looks well positioned for future growth.

Published By Datamonitor
23 Apr 2009
CommentWire
CommentWire

John Lewis: new format development

With its full-line department store pipeline on hold due to developers' problems, John Lewis has looked at alternative options and produced a smaller store format that will sell home and electronic products only. While this strategy will offer growth opportunities and threaten competitors, there is a danger that the retailer may cannibalize its own sales.

Published By Datamonitor
08 May 2009
CommentWire
CommentWire

Arcandor facing a merger with Metro

German group Arcandor's financial struggles have led to talks with Berlin regarding a state bailout, resulting in strong criticism from both politicians and retailers. As an alternative, rival Metro is proposing a takeover of Arcandor's Karstadt department store chain. Although both solutions could undermine competition in the market, the latter may rescue the struggling retailer in the long term.

Published By Datamonitor
20 May 2009
Expert View
Expert View

Arcandor under threat of insolvency

While unconfirmed at present, it looks increasingly likely that Arcandor will not receive the necessary state guarantees for its outstanding debt. The company needs to raise E960m for 2009, with up to E900m to follow over the next five years. By June 12, when outstanding credit has to be renewed, Arcandor, the holding company of Karstadt, Thomas Cook and Quelle, could enter insolvency.

Published By Datamonitor
08 Jun 2009
CommentWire
CommentWire

Department stores: Harrods investing in local shoppers

Harrods Ltd, the owners of the iconic department store, has revealed a 9.2% increase in sales to its year end January 2009; an encouraging performance considering the collapse in global retail sales in Q4 2008. The investment it has made in its store is paying off by improving the customer experience for local shoppers and increasing loyalty.

Published By Datamonitor
13 Aug 2009
Expert View
Expert View

More woes for Arcandor

Just as it was announced that the German economy had emerged from the severest recession since the 1930s, the fate of Arcandor was sealed as it became one of the biggest insolvencies in the corporate history of the country. The Arcandor fallout will lead to job losses, which will add to the country's growing unemployment and, as this impacts consumer confidence, retailing is in for a tough time.

Published By Datamonitor
20 Aug 2009

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