PARIS (Reuters) - French retailer Casino <CASP.PA>, whose shares have been under pressure due to concerns over the financial situation of parent Rallye <GENC.PA> said it would pay an interim dividend of 1.56 euros per share for 2018, unchanged from the 2017 payout. Rallye is engaged in a row about how it calculates its accounts, with some hedge funds arguing its methodology flatters the company's net value. The funds have also criticised the payment by Casino of a dividend. Casino is the main asset of Rallye, which has a 51 percent stake in the company. Within the Casino group, dividends from Casino are used to maintain Rallye's debt interest payments. The shares of Casino that are held by Rallye are also pledged as collateral to banks in order for Rallye to obtain more financing. (Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta) … [Read more...] about Retailer Casino to pay interim dividend despite fund critics
SEA's leading retailers, investors and retail tech leaders will meet at #Ready2018 to discuss the future of retail commerce and SE Asia's readiness for disruptionSINGAPORE, Nov 13, 2018 - (Antara/ACN Newswire) - Retail and digital experts, investors, tech experts and 200 CXOs from some of the biggest brands will come together on 21 Nov at Marina Bay Sands, aiming to empower business leaders with the latest business and consumer strategies and uncover how technology is fundamentally transforming the e-commerce, startup and retail ecosystem in Southeast Asia (SEA).With APAC's 2 billion-strong internet users growing by 8% annually, the region's digital economy is projected to top US$1.12 trillion by 2021. Maya Hari, VP Asia Pacific for Twitter and #ready2018 keynote, will speak on the preferences of the Millennial consumer who would make up most of these users. Recognising the trends, experts will share views on the impact of an evolving connected environment on businesses and suggest … [Read more...] about Are Southeast Asia’s Retailers and Brands Customer #Ready?
(Reuters) - Land Securities Group Plc <LAND.L>, one of Britain's largest listed property developers, said its net asset value per share fell in the first-half, hit by challenges in the retail sector. "Structural and cyclical challenges have combined to create tough conditions for retailers," the company, which manages the Bluewater shopping centre in southeast England, said. The developer, having previously considered building apartments to overcome some of the challenges the retail market faces, said it would submit planning applications for over 1,700 homes at two suburban London location under its planned mixed use development. The company also cited an increase in adverse market conditions as Britain continues its negotiations on its exit from the European Union. "The board notes an increase in the market cyclicality risk due to greater uncertainty regarding the outcome of Brexit negotiations and an increase in customer risk reflecting the tougher retail trading … [Read more...] about Land Securities’ asset value falls on retail sector woes
LONDON (Reuters) - British discounter B&M European Value Retail <BMEB.L> bucked a gloomy UK retail market, reporting a 32.5 percent rise in first half profit, helped by strong growth from its Heron Foods business. The group said on Tuesday that although underlying sales growth at the main B&M fascia slowed in the second quarter it was "well placed" for the key Christmas quarter. It said the retail environment was "difficult and uncertain". The group made a pretax profit of 115 million pounds in the 26 weeks to Sept. 29, up from 86.8 million pounds in the same period last year, on group revenue up 16.1 percent to 1.56 billion pounds. In the B&M fascia, first half like-for-like sales growth was flat and trading at the start of the third quarter has been similar. That represents a slowdown from first quarter growth of 1.6 percent. The group said it was on track to open at least 58 new B&M stores and 20 new Heron Foods stores in the 2018-19 year. It also trades as … [Read more...] about UK retailer B&M bucks tough market with profit rise
Nov 12, 3:03 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Daniel B. Kline 11/12/18 AT 3:03 PM It's a crowded retail marketplace and the noise volume of ads, emails, and marketing offers will only rise as the holiday season approaches. Most mass retailers -- 80% -- consider promotions and discounts a major part of their sales strategy, according to a new study by SheerID. This article originally appeared in The Motley Fool.In fact, 75% of retail marketers run either weekly or continuous discounts. It's a strategy that's good for consumers, but one that may be hurting the bottom line for the retailers despite it being an ineffective way of enticing people to buy more.An Endless DiscountMarketers are feeling the pressure -- 81% in the retail space said they feel pressure to meet revenue goals -- and that makes them cling to discounts to drive sales. In fact, half of retail marketers surveyed said … [Read more...] about Big Retail Relies On Big Discounts And That May Be A Mistake