LONDON/BANGALORE, May 30 (Reuters) – British group Booker
is to buy the loss-making British cash & carry
operations of German retailer Metro, giving it more
customers and products and taking a long-running problem off
For Booker, which focuses on caterers and independent
retailers, the 140 million pound ($219 million) cash and share
deal will expand its reach with the hotels, restaurants and
small and medium-sized businesses that are the usual customers
of Makro UK.
FRANKFURT (Reuters) – Mexico is relying on travelers from countries like Russia and Brazil to boost its tourism numbers this year after the drug war plaguing the country deterred U.S. visitors, its largest source of tourists.
The number of international tourists arriving on flights is expected to rise between 9 and 10 percent this year from the 22.7 million in 2011, Tourism Minister Gloria Guevara told Reuters in an interview in Frankfurt.
FRANKFURT, May 17 (Reuters) – The opening of Berlin’s new
airport has been pushed back nine months to March 17 after
problems with fire safety systems, dealing an embarrassing blow
to the German capital and angering airlines.
Manfred Koertgen, the airport’s managing director for
technical issues, has been sacked and will leave the role on
June 1, Berlin mayor Klaus Wowereit told reporters on Thursday.
FRANKFURT (Reuters) – German travel and tourism group TUI AG said demand for holidays in North Africa was recovering, as it reported a smaller than expected second-quarter loss.
“The situation in Tunisia is especially encouraging, but we are seeing some pick-up in Egypt too,” Chief Financial Officer Horst Baier told analysts on Thursday.
FRANKFURT, May 9 (Reuters) – German consumer goods company
Henkel said more price increases would help it meet
its 2012 guidance as it reported a slow return to sales growth
at its adhesives unit in the first quarter.
While industrial adhesives were a bright spot for companies
such as Henkel and local rival Beiersdorf last year,
Henkel in March said its adhesives business was slowing as
customers in China used up stock.
FRANKFURT, May 3 (Reuters) – Germany’s Metro, the
world’s fourth largest retailer, slipped into a loss at the
start of the year as it invested in new products and services to
encourage cash-strapped shoppers in Europe to part with their
Metro, which runs cash & carries, hypermarkets, consumer
electronics and department stores, on Thursday reported an
operating loss of 9 million euros ($11.8 million)for the first
three months of 2012, confounding expectations for a profit of
almost 50 million.
FRANKFURT (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz), the world’s second-biggest sporting goods company, raised its 2012 profit forecast after outperforming rivals Nike and Puma in the key Chinese market as shoppers there snapped up its trademark three-stripe sneakers.
Adidas shares jumped to a record-high on the news, as investors brushed aside the German company’s warning that “commercial irregularities” at its Reebok unit in India could cost it almost 200 million euros ($265 million).
FRANKFURT, April 27 (Reuters) – German mail order company
Neckermann announced it was moving online on Friday, leaving
more than half of its staff out of work as customers
increasingly turn to websites rather than catalogues to buy
homewares, furniture or technology.
“The future of mail order is in the Internet. We cannot let
this pass us by,” the Frankfurt-based company said in a
statement announcing an end to its print catalogue, adding that
over 80 percent of its sales are now made online.
FRANKFURT (Reuters) – Germany’s Puma (PUMG.DE: Quote, Profile, Research) missed expectations with a 5 percent fall in first-quarter earnings, as the group was hit by wariness among European consumers and struggled to exploit demand for western brands in China and lightweight sneakers in the United States.
Along with larger rivals Nike (NKE.N: Quote, Profile, Research) and Adidas (ADSGn.DE: Quote, Profile, Research), Puma had enjoyed a strong end to 2011 and analysts said they were surprised by the results, with sales, margins and profits all missing average forecasts.
FRANKFURT, April 25 (Reuters) – Germany’s Puma
missed expectations with a 5 percent fall in first-quarter
earnings, as the group was hit by wariness among European
consumers and struggled to exploit demand for western brands in
China and lightweight sneakers in the United States.
Along with larger rivals Nike and Adidas,
Puma had enjoyed a strong end to 2011 and analysts said they
were surprised by the results, with sales, margins and profits
all missing average forecasts.