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Dean Best

UK: Tesco CFO McIlwee resigns

4 April 2014 | Dean Best

Tesco CFO Laurie McIlwee has decided to leave the UK retailer, it was announced this afternoon (4 April).... read more


FRANCE: Investment lifts Carrefour FY profits

5 March 2014 | Dean Best

Carrefour, the world's second-largest retailer, today (5 March) reported higher 2013 profits as investment helped boost sales in France - with the company pledging to up capital expenditure this year.... read more


TURKEY: Tesco in talks over Turkish arm

24 February 2014 | Dean Best

Tesco Kipa, the Turkish unit of UK retailer Tesco, has today (24 February) confirmed its parent is in talks over possible options for the future of the business.... read more


UK: Asda rounds off year with Q4 sales fall

20 February 2014 | Dean Best

Asda ended its 2013 financial year with a fall in underlying sales in the fourth quarter.... read more


UK: Asda confident after "very tough" Christmas

6 January 2014 | Dean Best

UK retailer Asda has reported "a good performance" during what it described as a "very tough" Christmas trading period.... read more


INDIA: Jobs axed as Wal-Mart goes solo

17 December 2013 | Dean Best

Wal-Mart has admitted some jobs will be lost from its business in India as the US retail giant plots its growth in the market alone.... read more


INDIA: Tesco bids to run multi-brand outlets

17 December 2013 | Dean Best

Tesco has set out a plan to become the first foreign retailer in India to run multi-brand outlets, with an application to invest in local operator Trent Hypermarket.... read more


GLOBAL: Cheesewright to head Wal-Mart international arm

10 December 2013 | Dean Best

David Cheesewright, the head of Wal-Mart's operations in EMEA and Canada, is to be promoted to lead all of the retail giant's businesses outside the US.... read more


US: Wal-Mart international chief McMillon set for top job

25 November 2013 | Dean Best

Doug McMillon, the chief executive of Wal-Mart's operations outside the US, is to become the CEO of the world's largest retailer, it said today (25 November).... read more


CHINA: Wal-Mart reiterates plans to expand in China

25 October 2013 | Dean Best

Wal-Mart Stores has outlined plans to open stores and distribution centres in China over the next three years - after saying last week some existing outlets in the country would close.... read more


UK/CHINA: Tesco, China Resources Enterprise sign JV deal

2 October 2013 | Dean Best

Tesco has signed "definitive" deals to merge its Chinese business with local retailer China Resources Enterprise (CRE).... read more


UK: Asda claims "strong" Q1 after LFL sales rise

17 May 2013 | Dean Best

Asda CEO Andy Clarke claimed the UK supermarket retailer put in a "strong performance in a tough market" after booking higher first-quarter like-for-like sales.... read more


US: Wal-Mart shares fall after profits miss forecasts

16 May 2013 | Dean Best

Shares in Wal-Mart were down today (16 May) after the world's largest retailer posted quarterly earnings that missed Wall Street forecasts - and booked lower US sales.... read more


FRANCE: Domestic improvement boosts Carrefour

7 March 2013 | Dean Best

Shares in Carrefour rose this morning (7 March) after the French retail giant reported underlying annual profits that beat analyst forecasts, amid an improved performance at home.... read more


IGD CONVENTION: Asda rolls out click-and-collect, in-store wifi

10 October 2012 | Dean Best

Asda is to open more click-and-collect locations across the UK and provide free in-store wifi at all its stores as part of its bid to tap into changing consumer habits.... read more


INDIA: FDI retail reform comes into effect

21 September 2012 | Dean Best

India's plans to ease rules on foreign investment in retail yesterday (20 September) came into effect, even as protests against the policy took place throughout the country.... read more


INDIA: FDI retail reform returns but states will have final say

14 September 2012 | Dean Best

The Indian government has again opened the door to foreign investment in the country's retail sector - but states will have the final say on whether multi-brand outlets backed by overseas capital can open. ... read more


FRANCE: Carrefour cheers market despite H1 profit drop

30 August 2012 | Dean Best

Carrefour today (30 August) reported a fall in half-year profits but shares in the French retail giant rose as analysts had expected a steeper decline. ... read more


SPAIN: El Corte Ingles profits fall 34% in 2011

28 August 2012 | Dean Best

Profits at Spanish retailer El Corte Ingles fell by more than a third in 2011 as the economic problems in the country hit retail sales.... read more


US: Congressmen outline more Wal-Mart Mexico allegations

20 August 2012 | Dean Best

Two US Congressmen say they have obtained internal Wal-Mart documents that claim staff at the retail giant's Mexican unit might have evaded tax and laundered money.... read more


SOUTH AFRICA: Retailer Massmart reports FY sales increase

5 July 2012 | Dean Best

South African retailer Massmart Holdings has posted a near 16% increase in annual sales on the back of robust underlying sales and the acquisition of stores owned by local cash-and-carry rival Rhino.... read more


The verdict from the City: M&S's annual results

22 May 2012 | Dean Best

Marks & Spencer, often seen as a barometer for wider trading conditions in the retail sector in the UK, today (22 May) reported mixed annual results. Sales and gross margin from food was higher but challenges remain elsewhere in the business - including women's wear. The retailer also cut the top end of its group sales forecasts.... read more


MEXICO: Mexican authorities launch Walmex probes

27 April 2012 | Dean Best

Mexico's attorney general has launched an investigation into allegations Wal-Mart Stores' local unit bribed officials to make it easier to open stores in the country. ... read more


UK: Tesco UK boss Brasher quits

15 March 2012 | Dean Best

Richard Brasher, the head of Tesco's operations in the UK, has decided to leave the business, it emerged today (15 March).... read more


Wal-Mart's Foran faces challenges in China

15 February 2012 | Dean Best

Greg Foran, who moved from Woolworths Ltd to Wal-Mart last autumn, has been named as the US retail giant's new chief in China. As Dean Best writes, Foran is taking charge of one of Wal-Mart's most challenging businesses.... read more


UK: Tesco moves UK COO Robbins to new role

2 February 2012 | Dean Best

Tesco has moved Bob Robbins, COO of its UK operations, to a new role just weeks after the executive attracted headlines for selling shares in the retailer days before a profit warning.... read more


INDIA: FDI will benefit retail sector - Tesco CFO

8 December 2011 | Dean Best

More overseas investment would benefit India's retail sector, Tesco CFO Laurie McIlwee insisted today (8 December).... read more


Tesco trading update: what the analysts say

8 December 2011 | Dean Best

Tesco, the world's fourth-largest retailer, has operations in 11 markets outside the UK but, as it announced in its third-quarter trading update today (8 December), much of the interest from The City was on its domestic business, where underlying sales again fell. Here is a flavour of what leading retail analysts said about Tesco's recent performance.... read more


INDIA: New Delhi to ease laws on foreign retail ownership

24 November 2011 | Dean Best

The Indian government has reportedly approved plans to further open up the country's retail industry, a decision that could see a wave of foreign investment into the sector.... read more


FRANCE: Unions slam Knight Vinke Carrefour demands

21 October 2011 | Dean Best

Unions representing Carrefour staff across Europe have criticised the demands made by one of the retailer's investors for changes to how the company is run.... read more


FRANCE: Carrefour investor demands governance change

20 October 2011 | Dean Best

Carrefour shareholder Knight Vinke Asset Management has urged the French retail giant, which last week issued its latest profit warning, to appoint an independent chairman.... read more


FRANCE: Carrefour issues "prudent" profit warning

14 October 2011 | Dean Best

Shares in Carrefour fell today (13 October) after the French retailer issued another warning on its profits for 2011.... read more


Tesco, Sainsbury's trading updates: what the analysts say

5 October 2011 | Dean Best

Two of the UK's largest retailers, Tesco and Sainsbury's, provided an update on trading today (5 October). What did the City make of the companies' recent performance?... read more


US: Cheesewright to lead Wal-Mart in Canada, EMEA

29 September 2011 | Dean Best

Wal-Mart Stores has set up a management team to develop its operations in Canada, Europe, the Middle East and Africa.... read more


UK: Tesco to quit Japan

31 August 2011 | Dean Best

Tesco, the UK's largest retailer, has decided to quit Japan after eight years in the market.... read more


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