Thanks to a series of fortunate events, Auchan posted a good performance in H1 with consolidated revenues excluding taxes up 16.1% at constant exchange rates to EUR26.03 billion (USD35.40 billion)
Lidl plans to increase its Danish store number from its current 94 to a total of 150 outlets - though with no time frame given. It is also to open a new 40,000 square metre (430,556 square foot) warehouse in Køge next week which will have a capacity for 180 stores, Danish newspaper Business reports.
Lidl’s Country Director, Finn Tang said it has the financial flexibility to support this growth plan and that its concept is different enough from local discounters to grow in the crowded market
Big Lots saw sales edge higher to USD1.2 billion in the quarter ended 2 August. At +1.7%, comparable store sales hit within the company’s guidance of +1% to +3%
Tesco has issued a profit warning as part of an unscheduled trading update. The company said it expected 2014/15 trading profit to be in the range of GBP2.4 to GBP2.5 billion (USD4.1 to USD4.2 billion.) Trading profit for the six months ending 23 August 2014 is expected to be in the region of GBP1.1 billion
Abercrombie & Fitch reported sales for the quarter ended 3 August sank 6% from a year ago to USD891 million, with domestic sales down 9% and international sales down 1%.
On a comparable sales basis, the company’s sales decreased 7% year over year, the company’s 10th straight quarterly decline