Posts tagged as kaufhof

  • Suffers from poor Christmas season across Europe: Metro Group

    Monday, October 19th 2015

    Metro cashes more than expected from Kaufhof deal

    by Markus Huber

    Publishing its preliminary figures for fiscal 2014-15 ended Sept. 30, the management of Metro Group said that it netted €1.75 billion from the divestment in Galeria Kaufhof. That was more than originally expected. Altogether, the department chain’s new owner, Hudson’s Bay of Canada, which officially took Kaufhof over effective Oct. 1, paid some €2.8 billion, […]

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    Monday, September 28th 2015

    Hudson’s Bay reveals details on Kaufhof deal

    by Markus Huber

    Hudson’s Bay, from next Thursday new owner of the German and Belgian Galeria Kaufhof and Sportarena stores, has revealed details of how the Canadian retail group wants to re-invent the department store chain. According to Wirtschaftswoche, Hudson’s sees a need to improve Kaufhof’s online business which currently contributes only 2 percent of the retailer’s sales. […]

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    Thursday, September 17th 2015

    Kaufhof: major clean-up under new owners

    by Markus Huber

    Hudson’s Bay, the Canadian retailer, which agreed to acquire Galeria Kaufhof, the German chain of department stores and its affiliated network of specialty Sportarena stores,  is about to implement major changes. Manager Magazin reports that it is likely that Kaufhof’s long-time chief executive, Lovro Mandrac, will leave the company even before the transaction comes to […]

  • Wednesday, August 5th 2015

    The Haniels hand over power to a next generation at Metro

    by Markus Huber

    Apparently, the Haniel family, which has controlled the huge cash & carry group and owner of Galeria Kaufhof and Sportarena in Germany and Belgium, is changing its strategy. Franz Markus Haniel will not run for a renewal of his contract as chief of the supervisory board. It was said that an “independent” candidate should oversee […]

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    Monday, June 15th 2015

    Kaufhof: Metro opts for the Canadian solution

    by Markus Huber

    Galeria Kaufhof is to finally change hands. Metro is selling the department store chain for the equivalent of €2.8 billion to Canadian retailer Hudson’s Bay Co. The agreement includes Kaufhof’s headquarters in Cologne, 103 Galeria Kaufhof stores in Germany, 16 Galeria Inno doors in Belgium as well as 16 Sportarena specialty stores. By opting for […]

  • Tuesday, June 2nd 2015

    Hudson’s Bay enters the race for Kaufhof

    by Markus Huber

    According to an unconfirmed Reuters report, Hudson’s Bay, the Canadian chain of 90 department stores and owner of U.S. retailer Fifth Avenue, has entered the bidding for Kaufhof, the large German department store and sporting goods chain. Rumors that Hudson’s Bay may be interested in the retailer, which Metro has put on the block, have […]

  • Wednesday, May 20th 2015

    Media report: Karstadt owner is serious about Kaufhof

    by Markus Huber

    It’s no new story that Benko Retail, the operator of Karstadt department stores in Germany, is eager to acquire its competitor Galeria Kaufhof. Since 2011, the Austrian Benko group has been interested in buying Kaufhof from its parent company Metro. The retail and cash and carry giant has refused, while letting it be known that it […]

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    Wednesday, April 29th 2015

    Reuters: Canadian retailer may acquire Kaufhof

    by Markus Huber

    Reuters has heard that Hudson’s Bay, the large Canadian operator of department stores, may be interested in buying Galeria Kaufhof, the subsidiary of Metro which runs some 127 department stores and 13 specialty sports shops in Germany and Belgium. It was said, however, that talks are still at an early stage. The possible Kaufhof sale […]

  • Shining bright, but losing money: Galeria Kaufhof.

    Monday, November 3rd 2014

    Karstadt and Kaufhof: merger talks confirmed

    by Markus Huber

    Metro, the parent group of German department store chain Kaufhof, which also runs the Sportarena banner, has confirmed talks with René Benko, the Austrian owner of competitor Karstadt. While not denying discussions about a possible merger of the two chains, Metro Group was quick to say that the talks were non-committal and will remain so in […]

  • Lovro Mandac, outgoing CEO of Galeria Kaufhof.

    Thursday, October 2nd 2014

    Generation change at top of Kaufhof

    by Markus Huber

    Effective Oct. 1, Lovro Mandac has handed over his position as chief executive Galeria Kaufhof to his successor. Mandac has served the German department and sporting goods chain for more than 20 years. The 64-year-old now takes over the position of chairman of Kaufhof’s supervisory board, previously held by Mark Frese, chief financial officer of Kaufhof’s […]