European Retail Correspondent, Zurich
Emma's Feed
Aug 7, 2014

Metro sells Vietnam cash-and-carry unit for 655 mln euros

BERLIN/FRANKFURT, Aug 7 (Reuters) – Metro AG has
agreed to sell its cash-and-carry unit in Vietnam to Thailand’s
Berli Jucker for 655 million euros ($876 million),
generating funds to invest in the growth of the group and
strengthen its balance sheet.

Metro, which runs Europe’s largest consumer electronics
chain Media-Saturn as well as Real hypermarkets and Kaufhof
department stores in Germany, has been trying to streamline the
business to focus on cash-and-carry and consumer electronics.

Aug 7, 2014
Aug 7, 2014
Aug 7, 2014
Aug 7, 2014

Adidas spending on marketing, stores to hit margins

BERLIN (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz), the world’s second-biggest sportswear firm, cut its profit margin target for 2014 on Thursday, saying it would increase spending on marketing and an expansion of its own-run stores a week after it issued a profit warning.

The German group is now targeting an operating margin of 6.5-7.0 percent for 2014, from a previous 8.5-9.0 percent and down from 8.7 percent in 2013, excluding goodwill impairments.

Aug 6, 2014

Walgreen to keep U.S. tax domicile after buying Alliance Boots

Aug 6 (Reuters) – U.S. retailer Walgreen Co said it
would not use a full takeover of Europe’s biggest pharmacy
chain, Alliance Boots, to move its domicile overseas,
following fierce criticism of such tax-cutting deals at home.

Walgreen will buy the 55 percent it does not already own of
Alliance Boots for 3.13 billion pounds ($5.3 billion) in cash
and 144.3 million shares, giving a total deal of about $15
billion.

Aug 6, 2014
Aug 6, 2014

Walgreen to keep U.S. tax domicile as buys Alliance Boots

By Emma Thomasson

(Reuters) – U.S. retailer Walgreen Co (WAG.N: Quote, Profile, Research, Stock Buzz) won’t use a full takeover of Europe’s biggest pharmacy chain Alliance Boots [ABN.UL] to move its domicile overseas, it said on Wednesday, following fierce criticism of such tax-cutting deals at home.

Walgreen said it would exercise an option to buy the 55 percent it does not already own of Alliance Boots for 3.13 billion pounds ($5.3 billion) in cash and 144.3 million shares, giving a total value for the deal of about $15 billion. It took a 45 percent stake in 2012 and was expected to buy the rest.

Aug 6, 2014
Aug 6, 2014