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Issue 103 : January 31st 2012
Consumer electricals shaken up by Dixons defections
Europe’s largest consumer electricals company has lost its CEO to arguably the continent’s most powerful electronics brand in a move which could have major implications for the European stores sector.
The move also casts a cloud over the turnaround strategy for Dixons, which has realigned its European business and has seen off rivals comet and Best Buy Europe on its domestic patch, but also lost its financial director in August.
Italian scheme scheduled for March opening
Despite the weakness of the economy and a downturn in investment sentiment a raft of Italian retail schemes are due to come online in the next few months.
One of the first to open will be the La Terrazze shopping centre in La Spezia which has bucked the downturn and will open almost fully let.
Reverse premium for grocer to take big box stores
UK grocery group Morrisons is set to receive multi-million pound cash payments to take on ten stores from Best Buy Europe, which has exited the UK.
The stores will be used for a major store launch of the retailer’s new baby and children’s retail operation, which has also established online in mainland Europe.
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