Toronto—The private equity firm that owns both Lord and Taylor and Fortunoff department stores has acquired a Canadian retail company, setting the stage to expand its operations in that market. According to SCT Newswire, NRDC Equity Partners paid a total of about $1.1 billion to obtain total control over Canadian retail conglomerate Hudson’s Bay. NRDC […] ↓ Read the rest of this entry…
Wesfarmers is reportedly creating a new discount supermarket chain to replace the Coles Group’s Bi-Lo supermarkets, reports The West Australian. Coles chief Ian McLeod told analysts last week that the new concept would be tested in pilot stores in Melbourne before being introduced nationally and could be bedded down by the end of the financial […] ↓ Read the rest of this entry…
Major retailers are slashing prices in a pre-Christmas bid to breathe life into the ailing high street by tempting in shoppers. It comes as official sales figures continue to defy expectations, according to the Office for National Statistics. Retail sales declined by 0.1 per cent in October, much better than expected by economists, who had […] ↓ Read the rest of this entry…
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