Retailer News

The Darty Plan to Boost Market Share

PDF Print E-mail
The Darty Plan to Boost Market Share

Darty CEO Regis Schultz tells Bloomberg his plan to boost the retailer's market share by around 33% in its home France-- opening as many as 150 "mom and pop" stores in small towns.

“One of the things we are doing is trying to grow this market share by going into small towns,” Schulz says. “Our market share is about 20% in big towns, but we have no presence in small towns and we tend not to be in those type of catchment areas.”

Making these small Darty stores are independent businesses turned franchisees. According to Bloomberg 4 such outlets are open after first starting business last month.

Continue reading...

Media-Saturn Selects Own Brand Boss

PDF Print E-mail
Media-Saturn Selects Own Brand Boss

Media-Saturn names Klaus Lahrmann interim CEO of subsidiary Imtron, where he currently works as chief procurement officer (CPO), following the promotion of predecessor Ditmar Krusenbaum to Media-Saturn Austria CEO.

Lahrmann retains CPO responsibilities until the retailer finalises succession plans. He joined Media-Saturn on February 2013, following stints as Euronics managing director and Sony general manager.

Imtron takes care of the four Media-Saturn private labels-- Ok (entry-level appliances), KOENIC (high-quality appliances), PEAQ (CE with a focus on audio) and ISY ("functional" accessories). All find place within Media Markt and Saturn stores, obviously.

Continue reading...

RadioShack Opens Concept Store

PDF Print E-mail
RadioShack Opens Concept Store

RadioShack unveils a remodeled concept store in Manhattan, New York (specifically 1758 Broadway), one of 25 the retailer has opened since it started store conversion operations on July 2013.

The store acts as both an "upgraded shopping experience" and a showcase for the retailer's new look, with interactive areas allowing customers to "discover personalised solutions, connect with sales associates and realize the unlimited potential of technology."

Further features include a tablet-controlled speaker wall (allows customers to test out different speakers), interactive displays for product comparisons and interactive technology of the touchscreen and app variety.

Continue reading...

Dixons-Carphone Warehouse Merger Update

PDF Print E-mail
Dixons-Carphone Warehouse Merger Update

Following the 24 February announcement of a possible Dixons-Carphone Warehouse merger further details emerge on the situation-- the Takeover Panel grants a negotiation extension.

Initially the Panel set a 24 March deadline for the deal to create a mega CE retailer worth around £3.5 billion. However the retailers "require more time to evaluate a potential merger of the two businesses," and thus deadline has been extended to 19 May 2014.

"Discussions are still ongoing and there can be no certainty that a firm offer will be made," a joint statement reads.

Continue reading...

Staples to Close 225 Stores

PDF Print E-mail
Staples to Close 225 Stores

Even big-box office supply retailers are safe from the so-described "Amazon Effect"-- Staples follows RadioShack and announces the closure of 225 stores (or 10% of its global footprint) by 2015 as it sets to invest further in online retail.

The company closed an additional 109 stores in N. America and Europe during 2013, all in the name of aggressive cost-cutting. Until 2012 it used to have 2295 stores globally and 1500 in the US.

“A year ago, we announced a plan to fundamentally reinvent our company,” Staples CEO Ron Sargent says. “With nearly half of our sales generated online today, we’re meeting the changing needs of business customers and taking aggressive action to reduce costs and improve efficiency.”

Continue reading...

RadioShack to Close 1100+ U.S. Stores

PDF Print E-mail
RadioShack to Close 1100+ U.S. Stores

Sales fell 20% to $935.4 million during Q4 2013, while the retailer's net loss hit $191.4 million. It was the 8th consecutive quarterly loss. And sales at stores, the ones open at least a year, sank 19%.

So what do you do? RadioShack's new management plans to close up to 1100 stores. Which stores get the axe will be determined by location, area demographics, lease duration and financial performance.

The average size of a RadioShack store is 2426 square feet. That compares to Best Buy with 1200 square foot Best Buy Mobile stores as well as 20,000, 30,000 and 45,000 square foot Best Buy big box stores.

Continue reading...

For Sale: Maplin

PDF Print E-mail
For Sale: Maplin

Motagu Private Equity puts electronics retailer Maplin up for sale with a price tag of £400-500 million, following a reported series of approaches to the owner.

Taking care of the sale is PriceWaterhouse Coopers. The owner is said to want a clean break from retail, and will probably sell off Maplin toeither a large trade buyer or a rival private equity firm.

Montagu already tried selling off Maplin back in 2011-- but prospective buyers (reportedly Blackstone, CVC Capital Partners and Advent International) dropped out following price-related disagreement.

Continue reading...

Sales Slump in ElectronicPartner's 2013

PDF Print E-mail
Sales Slump in ElectronicPartner's 2013

ElectronicPartner describes 2013 "less successful than 2012," with sales across 16 European markets dropping by -10.7% to €384 million. Sales in its home Germany are also down, reaching €1.5 billion with a -9% decline.

“2013 was a difficult year, as forecast, without any supportive outside stimulus”, board member Friedrich Sobol says. “To be prepared for the changed conditions on the market, we undertook comprehensive internal restructuring in the past year. This allows us to respond quickly and flexibly to the current situation in the industry and consolidate an enduring strong position on the market in 2014."

The retailer blames the weak year on declining TV sales, even if it sees growth in large appliances and mobile devices. It also reports success for the "HomeSmartHome initiative," with various marketing promotions to continue during 2014.

Continue reading...

Dixons, Carphone Warehouse in Merger Talks

PDF Print E-mail
Dixons, Carphone Warehouse in Merger Talks

Dixons and Carphone Warehouse confirm discussions are taking place on a possible merger between the two companies-- one creating a mega CE retailer worth around £3.5 billion.

However a press release insists "discussions are at a very preliminary stage and there can be no certainty that a transaction will be forthcoming."

Carphone Warehouse is the biggest of the two retailers, with a market capitalisation of £1.8bn and around 2000 stores in 7 countries. Dixons is valued at £1.7bn and has 1154 stores spread across 12 countries.

Continue reading...

Media Markt Plans Turkish Expansion

PDF Print E-mail
Media Markt Plans Turkish Expansion

Media-Saturn sets to shift 25% of investments to Turkey during 2014 Today's Zaman reports, with plans to open 10 Media Markt stores nationwide by the year's end.

The retailer entered Turkey in 2007, where it has 37 stores following expansion into Anatolia. According to Media-Saturn Turkey CEO Bülent Gürcan the expansion is a sign of the retailer believing in the country, and "will be intensifying investments while improving opportunities for employment."

Continue reading...

Samsung Takes Over CPW Outlets

PDF Print E-mail
Samsung Takes Over CPW Outlets

Following a "preferred partner" agreement Samsung takes over 60 Carphone Warehouse outlets across Europe, with plans to transform them into stand-alone Samsung stores.

The agreement builds on the three Spanish CPW-operated stand-alone stores Samsung took over back in 2013. The scheme will extend further across the UK, Ireland, Germany, Spain, Portugal, Sweden and the Netherlands, with store rebranding taking place over the next 3 months.

The retailer says the stores will feature a "premium look and feel" to exclusively sell Samung mobiles, tablets, laptops and wearables.

Continue reading...

Page 10 of 33