Retail news
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Best Buy announces China exit
- Posted:
- 22 February 2011 09:16
US retail giant Best Buy has announced its intention to close its nine outlets in mainland China, the second major American chain to announce closures in the Chinese market within a month.The electronics retailer, whose European arm is a joint venture with Carphone Warehouse, stated that it would also be ...read more
Tesco invests in new distribution centre
- Posted:
- 24 January 2011 09:39
Tesco is investing £20 million in a new e-commerce distribution centre in North London. The 152,000 sq ft warehouse is set to open next year, with construction expected to last 20 weeks.The site will handle home deliveries and also supply Tesco Express stores.Speaking to Internet Retailing, Nigel Godfrey, senior vice ...read more
Kesa braced for Comet loss
- Posted:
- 19 January 2011 10:17
Comet's parent company Kesa Electricals today warned of a full-year loss for its UK operation after festive sales plunged 7.3%. Kesa blamed strong competition and the extreme weather for its like-for-like sales disappointment between November 1st and January 18th. It said record trading since Christmas had failed to offset last month's woes, ...read more
Original Factory Shop breaks festive records
- Posted:
- 18 January 2011 09:48
General retail chain The Original Factory Shop today said it broke sales records over Christmas as the extreme weather boosted demand for outdoor clothing and wellies.The group, which operates more than 160 stores across the UK, racked up its highest-ever sales in a day on December 23rd, only to smash ...read more
US partnership sees success for Carphone
- Posted:
- 18 January 2011 09:44
Carphone Warehouse offset slower growth in its European mobile phone arm today thanks to its partnership with American electronics giant Best Buy.The UK retailer lifted its full-year earnings guidance due to expectations that a profit-sharing agreement with Best Buy's mobile phone retailing operation in the US will now generate up ...read more
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