European Retail Correspondent
Mark's Feed
Sep 13, 2012

Cavalli boss says don’t panic, luxury market fine

LONDON/MILAN (Reuters) – A shock profit warning from British fashion brand Burberry (BRBY.L: Quote, Profile, Research, Stock Buzz) doesn’t cloud the luxury goods industry’s bright future because demand from China will remain strong, the head of Italian fashion house Roberto Cavalli said on Thursday.

Shares in luxury goods companies tumbled on Tuesday after Burberry reported a sharp slowdown in sales growth, stoking fears a near three-year boom for the industry might be coming to an end as China’s economic growth slows and the euro zone’s debt crisis drags on.

Jul 12, 2012

Spotlight turns to output as Boeing wins show

FARNBOROUGH (Reuters) – The world’s dominant aircraft makers, Airbus and Boeing, left a rain-swept Farnborough Airshow without the order deluge some had predicted, but each claiming victories as they prepare to focus on delivering a huge jet backlog from a dwindling order boom.

Boeing Co won 50 percent more firm orders than its arch-rival, including a $14.7 billion bulk buy from United Continental announced not at the show but in Chicago on Thursday, helping it recover ground after falling behind last year.

Mar 22, 2012

Retailers see slow consumer recovery

LONDON (Reuters) – Two of the UK’s biggest retailers, DIY group Kingfisher (KGF.L: Quote, Profile, Research) and fashion chain Next (NXT.L: Quote, Profile, Research), said conditions for consumers were likely to slowly improve this year after a prolonged squeeze in disposable incomes.

Retailers across Europe have been struggling as spending has been hit by rising food and fuel prices, muted wages growth, worries about unemployment and government austerity measures.

Mar 22, 2012

Next, Kingfisher show ray of hope for UK retailers

LONDON, March 22 (Reuters) – Rising profits at home
improvements group Kingfisher and fashion chain Next
suggest conditions could at last be starting to get
better for Britain’s retailers after a prolonged squeeze in
consumers’ disposable incomes.

Store groups across Europe have been struggling as spending
has been hit by rising food and fuel prices, muted wages growth
and government austerity measures, and as shoppers have worried
about unemployment and the euro zone debt crisis.

Mar 15, 2012

Home Retail urges help for consumers as sales dive

LONDON, March 15 (Reuters) – Home Retail,
Britain’s biggest household goods retailer, urged the government
to take steps in its budget next week to boost the incomes of
lower and middle earners as it forecast a fifth consecutive year
of falling profits.

The owner of catalogue-based Argos stores and the Homebase
do-it-yourself chain said on Thursday there were reasons to be
more optimistic about the retail outlook for the coming year,
with inflation falling and events such as the Olympic Games in
London and the Queen’s diamond jubilee likely to boost spending.

Feb 21, 2012

Asda sales growth slows

LONDON, Feb 21 (Reuters) – Asda, the British arm of
U.S. retailer Wal-Mart Stores Inc, posted a slowdown in
sales growth in its fiscal fourth quarter as shoppers cut back
due to rising prices, muted wages growth and an uncertain
economic outlook.

Chief Executive Andy Clarke said he was instinctively
optimistic about prospects in 2012 but said it was too early to
say if positive recent data on the UK economy represented a
turning point or was merely a blip.

Feb 16, 2012

Iceland Foods founder closes in on $2.4 billion buyout

LONDON (Reuters) – Failed Icelandic banks Landsbanki and Glitnir helped Malcolm Walker beat private equity firms to exclusive talks to buy Iceland Foods, a deal that would value the retailer he founded at 1.55 billion pounds ($2.4 billion).

The two banks are providing Walker with a 250-million pound loan, people close to the matter said. That made his offer more valuable and edged out bids from Bain and BC Partners.

Feb 16, 2012

Iceland founder closes in on £1.55 billion buyout

LONDON (Reuters) – Failed Icelandic banks Landsbanki and Glitnir helped Malcolm Walker beat private equity firms to exclusive talks to buy Iceland Foods, a deal that would value the retailer he founded at 1.55 billion pounds.

The two banks are providing Walker with a 250-million pound loan, people close to the matter said. That made his offer more valuable and edged out bids from Bain and BC Partners.

Feb 16, 2012

Iceland founder closes in on $2.4 bln buyout

LONDON, Feb 16 (Reuters) – Failed Icelandic banks
Landsbanki and Glitnir helped Malcolm Walker beat private equity
firms to exclusive talks to buy Iceland Foods, a deal that would
value the retailer he founded at 1.55 billion pounds ($2.4
billion).

The two banks are providing Walker with a 250-million pound
loan, people close to the matter said. That made his offer more
valuable and edged out bids from Bain and BC Partners.

Jan 17, 2012

Burberry hit by slower U.S. sales growth

LONDON (Reuters) – British luxury brand Burberry Group Plc (BRBY.L: Quote, Profile, Research, Stock Buzz) reported a sharp slowdown in U.S. sales growth as it chose to cut back supplies for department stores to sell through their discount outlets, knocking its high-flying shares.

The 156-year-old seller of raincoats and leather goods, known for its camel, red and black check pattern, said on Tuesday it wanted to focus on more profitable full-price sales and was seeing no overall moderation in demand.

    • About Mark

      "Based in London, UK. Responsible for ThomsonReuters coverage of European retail companies. Previously worked as Chief Correspondent of UK Equities and before that as reporter on the UK company news desk."
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