European Retail Correspondent
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Jul 4, 2011

French retail bosses battle for Brazil jackpot

PARIS/LONDON, July 4 (Reuters) – The future shape of
Brazil’s retail industry could depend on the negotiating skills
of a Swedish marketing executive and a French financier.

Lars Olofsson, head of retailer Carrefour and
Jean-Charles Naouri, his counterpart at Casino are
battling for Brazil’s top grocer Grupo Pao de Acucar (GPA) and a
slice of the world’s seventh-biggest economy.

Jul 1, 2011

Tesco wins shareholders over with new pay plan

NOTTINGHAM, England July 1 (Reuters) – Tesco , the
world’s No. 3 retailer, has won over shareholders with a simpler
and long-term focused executive pay scheme following years of
disputes over how it rewards management.

Some 97.2 percent of voting shareholders backed the new pay
plan at the British supermarket group’s annual general meeting
(AGM) in Nottingham, central England, on Friday.

Jul 1, 2011

Retail bloodletting has only just begun

LONDON (Reuters) – A string of retail failures could be the tip of the iceberg as shoppers cut back dramatically on non-essentials.

Analysts say more will go to the wall in coming months as consumers, grappling with rising prices, particularly fuel and energy, subdued wages growth, a lack of credit, job insecurity, a stagnant housing market, government austerity measures and fears of interest rate rises, further rein in spending.

Jul 1, 2011

Analysis – Retail bloodletting has only just begun

LONDON (Reuters) – A string of retail failures in Britain could be the tip of the iceberg as shoppers cut back dramatically on non-essentials.

Analysts say more will go to the wall in coming months as consumers, grappling with rising prices, particularly fuel and energy, subdued wages growth, a lack of credit, job insecurity, a stagnant housing market, government austerity measures and fears of interest rate rises, further rein in spending.

Jun 30, 2011

HMV to refocus on gadgets as profits slump

LONDON (Reuters) – British retailer HMV Group Plc aims to ramp up sales of MP3 players, headphones and tablet computers to offset sliding demand for CDs and DVDs and inspire a recovery from near collapse.

The 90-year-old group, famous for its Nipper the dog trademark, has issued four profit warnings this year as a downturn in consumer spending exacerbates long-term challenges from downloading and competition from supermarkets.

Jun 29, 2011

Retailers taking risks in quest for growth

LONDON (Reuters) – Retailers have always been cyclical, hostage to swings in consumer spending. Now, many feel compelled to seek new growth avenues outside their sluggish main markets, taking a step into the unknown.

The outlook for most U.S. and western European store groups is grim.

Recession-scarred consumers have put credit-fueled spending firmly behind them, population growth looks set to remain subdued and many markets appear saturated with stores as shoppers move online.

Jun 28, 2011

Tesco plans autumn push in banking

LONDON (Reuters) – Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), the world’s third-biggest retailer, will make its long-awaited push into banking this autumn, and will not do so by buying Lloyds (LLOY.L: Quote, Profile, Research, Stock Buzz) branches or bidding for state-owned Northern Rock.

Andrew Higginson, head of Tesco’s retail services business, told the Reuters Consumer and Retail Summit on Monday that the British group was focused on expanding its own operations.

Jun 28, 2011

Sainsbury sees cut-throat UK grocery

LONDON (Reuters) – J Sainsbury Plc (SBRY.L: Quote, Profile, Research, Stock Buzz) is confident of returning to outperformance of Britain’s grocery market once a period of unusually cut-throat competition runs its course, Finance Director John Rogers said.

Speaking at the Reuters Consumer and Retail Summit on Tuesday, Rogers said British shoppers were under intense pressure from rising prices and government cutbacks. Many grocers were responding with promotions which, while boosting sales, were adding nothing to profits or even eroding them.

Jun 28, 2011

Sainsbury sees cut-throat grocery market

LONDON (Reuters) – J Sainsbury Plc (SBRY.L: Quote, Profile, Research) is confident of returning to outperformance of the grocery market once a period of unusually cut-throat competition runs its course, Finance Director John Rogers said.

Speaking at the Reuters Consumer and Retail Summit on Tuesday, Rogers said British shoppers were under intense pressure from rising prices and government cutbacks. Many grocers were responding with promotions which, while boosting sales, were adding nothing to profits or even eroding them.

Jun 28, 2011

Waitrose raises sights on convenience shops

LONDON (Reuters) – Upmarket British grocer Waitrose is raising its sights on the number of convenience stores it expects to have by the end of this decade following strong results from early openings, its managing director said.

Mark Price told the Reuters Consumer and Retail Summit on Tuesday he could envisage a chain of 400 to 500 convenience shops, up from an initial goal of around 300.

    • 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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