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Tesco aims to double returns in central, east Europe

Tesco , the world's No.3 retailer, on Wednesday detailed plans to double returns from its central and eastern European business by buying more goods regionally, opening a variety of stores and selling more services.At its annual results in April,...

Walmart taps into Africa

Retail giant Wal-Mart Stores Inc. has added another feather in its cap by buying out Massmart partially, the leading African retailer of general merchandise and home improvement equipment supplier.On June 20, 2011, the Bentonville, Arkansas based Walmart announced that...

Wal-Mart Cuts Costs, Joins Suppliers to Avoid Price Rises

Wal-Mart Stores Inc the world’s largest retailer, is cutting costs and working with suppliers to delay or avoid raising prices as commodity expenses increase, the head of the company’s international unit said. “We find creative ways to work around...

Wal-Mart Plans to Accelerate Openings of Mid-Sized Stores

Wal-Mart Stores Inc the world’s biggest retailer, plans to accelerate the opening of its mid- sized Walmart Market stores, said U.S. stores chief Bill Simon. Wal-Mart will open 90 to 100 of the stores in the year ending in...

Tesco misses UK sales forecasts, overseas better

Tesco, the world's No.3 retailer, missed forecasts with a second consecutive quarterly fall in underlying sales in its main UK market, as rising prices and government cutbacks hit shoppers.The supermarket group said on Tuesday sales at British stores open...

Wal-Mart China reportedly names new CFO and COO

Retail giant Wal-Mart Stores Inc.'s China division has named replacements for two of its senior executives in the country who resigned earlier this month, reports said on Sunday. The retailer reportedly appointed Mario-Jose Medina as senior vice president and...

Taming price rise: Govt panel for FDI in multi-product retail

An inter-ministerial group (IMG) on inflation has recommended allowing foreign direct investment in multi-product retail as one of the two steps to tame rising prices and cut down the margin between farm gate and retail prices. This is the...

Brazil’s Pao de Acucar denies talks with Carrefour

Brazilian retailer Grupo Pao de Acucar denied it is in talks with rival Carrefour about merging their units in Latin America's biggest economy.Pao de Acucar, Brazil's biggest diversified retailer, said in a securities filing on Wednesday that "it is...

Wal-Mart set to expand by Dec

Foreign direct investment in multi-brand retail still not allowed, global giant Wal-Mart now plans to have more cash-and-carry wholesale outlets in India by year-end.The United States-based retailer’s sourcing and merchandising operations from India had also improved and are on...

American retail chains look north

Canadians should expect to see more of their familiar store brands disappear over the next few years as American chains continue to look north. But increased competition means consumers will be the winners, says a report.“Foreign retailers will look...
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