KarstadtQuell to Sell Nearly Half Stores
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Struggling German retailer KarstadtQuelle said Tuesday it plans to sell nearly half of its department stores and raise about &#36;615 million through a share offering as it restructures in response to Germany's persistent retail slump.
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Dutch retailer Ahold said on Thursday it had agreed to sell its Bruno's and BI-LO retail chains in the United States to Lone Star Funds for &#36;660 million, which is slightly below market expectations.
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The retailer's same-store sales decline.
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Shares of KarstadtQuelle dropped over 3 percent Tuesday after the group, Europe's largest department store and mail order retailer, said fourth quarter sales plunged 9.5 percent to 4.1 billion euro ($5.4 ...
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The administrators of supermarket chain Kwik Save say they have sold 56 of the firm's stores for Â£18m, salvaging about 600 jobs.
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KarstadtQuelle, Europe's leading department store operator, said it planned to sell &quot;as quickly as possible&quot; 77 of its 181 department stores around the country as part of a massive restructuring programme aimed at pulling it out of its current financial crisis.
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KarstadtQuelle, the ailing German department store chain, became the latest group to join a growing list of companies that are prescribing stinging job cuts and wage freezes as a way out of deep financial crisis.
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Troubled German retail giant KarstadtQuelle said it had agreed to sell parts of its logistics operations to the semi-privatised German postal service Deutsche Post for 200 million euros (260 million dollars).
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International markets account for more than half of the conglomerate?s sales.
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Lately, the company's retail operation has been lagging behind sales of its locations.
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Kmart Holding Corp. has finalized the sale of 50 of its stores to Sears, Roebuck and Co. for $575 million, the retailer said Wednesday.
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U.S. coffee shop giant Starbucks  plans to open at least 40,000 more stores over the medium term, half of them outside the United States, according to Tuesday's Expansion newspaper.
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Loss-making German department store giant Karstadtquelle plans a major shake-up to try to haul itself back into profit, amid rumours of thousands of job cuts.
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KarstadtQuelle AG, Germany&#39;s biggest department-store operator, agreed to sell its share of a venture to Starbucks Corp. and said it plans to issue at least 125 million euros ($163 million) in convertible bonds to fund an overhaul.
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Germany's fifth-largest bank, WestLB, said Sunday it is selling its majority stake in steel distributor Kloeckner &amp; Co. AG to a U.S. investment firm as part of efforts to unload noncore assets.
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AMSTERDAM  - Global food retailer Royal Ahold NV said Thursday it will sell two of its U.S. grocery chains, BI-LO and Bruno's, to Dallas-based Lone Star Funds for &#36;560 million US in cash.
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PRAGUE- The sales of toiletries decreased by Kc725m year-on-year to around Kc20bn in January to October last year, Jaroslav Bartak, CEO at chemist chain Rossmann, told a news conference referring to market data ...