Paul Jarvis News
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Ocado Group Plc rose as much as 47 percent to a record after unveiling a partnership with William Morrison Supermarkets Plc that will boost the online grocer’s coffers by 170 million pounds ($259 million).
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Salvatore Ferragamo SpA, an Italian maker of $1,390 sandals, rose to a record in Milan trading after first-quarter profit beat estimates and the company confirmed its projection for earnings growth this year.
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Luxottica Group SpA, the world’s largest maker of eyeglasses, said first-quarter sales and profit rose in a “solid, strong” start to the year, boosted by growth in emerging markets and the U.S.
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Asos Plc, the U.K.’s largest online-only clothing retailer, said Jon Kamaluddin will step down after pioneering a strategy of international expansion that has seen it enter markets from the U.S. to Australia.
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SABMiller Plc, the world’s second- biggest brewer, reported fourth-quarter beer sales that beat estimates as gains in Africa, Asia and Europe offset an unexpected decline in Latin America.
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Tesco Plc, the U.K.’s largest retailer, said it will exit the U.S. and scale back domestic expansion at a cost of about 2 billion pounds ($3 billion) as it reported the first annual profit drop in almost 20 years.
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Hennes & Mauritz AB, Europe’s second-largest clothing retailer, reported a slump in March revenue as freezing weather delayed sales of spring clothes.
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D.E Master Blenders 1753 NV, the coffee and tea company spun off by Sara Lee Corp., said it’s in talks to be acquired by a group led by Joh. A. Benckiser in a bid that values the company at 7.6 billion euros ($9.7 billion).
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As most Europeans shiver in the grip of the coldest March in living memory, the region’s retailers are feeling every bit as uncomfortable.
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Husqvarna AB, the world’s biggest maker of powered garden tools, said it will replace Hans Linnarson as chief executive officer in mid-2013, about two years after he took charge of the manufacturer.
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