King Jouet has acquired 117 stores of its competitor Maxi Toys through its owner, the Gueydon family. The French toy store chain adds twenty stores to its Belgian network, currently consisting of one store near Brussels.
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Anglo-Dutch Unilever aims to shed its dual nationality and become fully British by the end of November, following shareholders' meetings in both countries. However, the Dutch may consider countermeasures.
Trouble at French retailer Camaïeu: the unions accuse management of wilfully sending three foreign branches into bankruptcy by 'rerouting funds'. Current CEO Joannes Soënen, who is in the running to retake control of the chain for a reboot, denies the charges.
Covid-19 has created a huge hole in Superdry's turnover, which fell 25 % despite online sales doubling. The company borrowed 70 million pounds (80 million euros) to prepare for a transformation.
Marks & Spencer adds 750 new food products to its online range in preparation of its launch on online grocery platform Ocado next month.
Carrefour has now made its loyalty card available on smartphone for Belgian customers too. They can add their Bonus Card on their Android or iPhone 'Wallet', eliminating the need for the French retailer's app.
Capri Holdings (Versace, Michael Kors, Jimmy Choo) has beaten analysts' expectations in the past quarter (April to June). Turnover dropped 66 %, but analysts had feared for much worse.
Adidas suffered a big Covid-19 blow in its second quarter, leading to a net loss of 295 million euros. However, the German sportswear brand is positive as demand has seen a huge recovery since lockdowns ended.
The British competition watchdog CMA has agreed to Amazon's acquisition of a 16 % share in Deliveroo. The deal was already signed in May 2019, but the approval was delayed for twenty months because of competition concerns.
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Spirits producer Diageo has seen its full-year profits halved due to the Covid-19 crisis and had to lower the value of its brand portfolio (including Guinness, Johnny Walker and Smirnoff) by 1.5 billion euros.
Aldi is suffering from a swing from discounters to convenience, induced by the Covid-19 pandemic. It now trials a 24/7 vending machine called "ALDImat", to compensate for its shorter opening hours. It will offer forty products, focusing on barbecue and breakfast emergencies.
As the current pandemic increases polarisation in the food sector, the middle class is about to disappear, Danone CEO Emmanuel Faber said in an interview. The divide between rich and poor grows, also in the way they eat, and everyone in the middle class will either move up or down to an extreme.
Just days after their Belgian counterparts, the Dutch constituents of FNG have also been declared bankrupt. According to the fashion group, its chains like Miss Etam, Expresso and Claudia Sträter will stand a better chance of a second life this way.
The conflict between eyewear groups EssilorLuxottica and GrandVision is escalating: both are taking ever more drastic steps against their adversary in order to bend their "marriage" to their advantage.
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Ceconomy (the former Metro branch that owns electronics chains Media Markt and Saturn) has announced a thorough restructuring, which may cause up to 3,500 jobs being cut and several stores closed all over Europe.
The end game has begun for FNG: seven candidates would be interested in acquiring parts of the Belgian fashion group, which has reopened its stores in order to clear the current stocks.
The coronavirus crisis has given wings to Ahold Delhaize: the supermarket group achieved a 16 % rise in turnover this quarter, while doubling its profits. The current pandemic caused a 78 % increase in online sales, causing the group to revise its full-year forecasts upwards.
Over the past six months, EssilorLuxottica (Ray-Ban, Varilux) has seen its profits evaporate almost completely. In the meantime, the planned merger with GrandVision has led to a war between the two parties.
Uniquely among the main fashion brands, Spanish Mango is positive about the first half of 2020. Despite the measures to stop the spread of Covid-19, the chain did not suffer significant turnover losses in important European markets.
Coffee and tea giant JDE Peet's saw the drop in out-of-home coffee consumption compensated by a rise in home consumption, where customers seem to prefer more expensive coffees.
Outdoor group VF Corp, owner of brands like The North Face and Vans, saw its turnover halved last quarter, but is very optimistic about the long-term future as outdoors, sustainability, casual wear and digital sales are on the rise.
Even before Belgian fashion group FNG was declared bankrupt this morning, the banks have blocked its wages: it is possible employees have worked for nought last weekend.
The Belgian summer sales period suffered from the resurgence of Covid-19 and subsequent measures: its first-day turnover was only half that of last year.
Comparable sales went down more than 40 % at French luxury brand Hermès, which felt obligated to emphasise that the crisis is not over yet.
Cosmetics lose their importance during lockdowns: L'Oréal's turnover went down more than expected, while profit dropped as well.
Amazon reached its highest profit ever thanks to the Covid-19 pandemic: it sold 40 % more than the year before, enabling profit to double to 5.2 billion dollars (4.4 billion euros).
Value products at Carrefour are given a new, more modern, brand identity: 'Simpl'. Products with the new branding will gradually appear on the shelves.
Even though Belgian restaurants, bars and non-food stores have been allowed to reopen for a long time, consumption has not yet recovered to pre-lockdown levels.
Dutch suit maker SuitSupply has improved dramatically from last year: its net loss is almost gone, and it found new capital to continue growth.
Mango is going to share part of its revenues from e-commerce with its franchisers as they "are undeniably responsible for the significant growth of the online business", the Spanish fashion group says.
AB InBev has suffered a huge downturn in beer sales last quarter, due to the measures to stop the spread of Covid-19. Profits went downhill even faster for the world's largest brewery group, which also had to admit a huge impairment in Africa.
Belgian fashion group FNG has filed for bankruptcy, as it was unable to find investors in time. The bankruptcy does not involve all of FNG's activities, however: the Dutch branch asks for protection against creditors, the Scandinavian branch is completely unaffected.
Saving shops is not a noble cause, but a lost one: retail units are better converted into homes, according to a British think tank, because they are doomed to disappear anyway.
Amazon Fresh, the online giant's grocery service, is now available free of charge to Prime-members in London. The service will be rolled out across the United Kingdom by the end of this year, as the coronavirus creates momentum for online food sales.
French luxury group Kering, owner of Gucci and rival to LVMH, saw its sales drop by 44 % in the past quarter. Despite the first signs of recovery after the lockdowns, especially in China, the second half of the year remains uncertain.