Many European multi-sector retailers revealed good results in February, with Belgium’s Colruyt, Finland’s Kesko, France’s PPR and Germany’s Douglas Holding all revealing positive figures.
In addition, US giant Wal-Mart rounded out a difficult year well, revealing that net sales climbed 11.7% year-on-year to $344.99 billion in the 52 weeks to 31 January 2007. Net income across the 12-month period increased 6.7% to $12.18 billion, in comparison to the $11.41 billion posted last time. The retailer was also reported to be looking at entering the Russian market via a partnership with a leading local retailer.
In the UK, Marks & Spencer had an eventful month, training staff to help customers with advice on healthy eating, winning a key tax ruling regarding £100 million in European losses and struggling to hold on to the group’s retail director, Anthony Thompson (who had approached head-hunters in order to find a new job).
