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NEWS
June 22, 1996 | From Times Wire Services
Germans can shop into the night and buy fresh bread on Sundays under a law approved in Germany's Parliament that eases some of the most restrictive shopping hours in Europe. The law takes effect Nov. 1, but it could be delayed or derailed outright by trade unions and other opponents who say it's anti-family and could put some stores out of business. The legislation allows stores to stay open until 8 p.m. on weekdays and 4 p.m. on Saturdays.
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BUSINESS
July 29, 2006 | From the Associated Press
Wal-Mart Stores Inc. said Friday that it planned to sell its 85 stores in Germany to rival Metro, a move that effectively ends a nearly decade-long effort by the world's largest retailer to crack the market in Europe's biggest national economy. Terms were not disclosed, but Wal-Mart said it expected to incur a loss before taxes of about $1 billion related to the deal in its second quarter. It would be the Bentonville, Ark.-based company's second international withdrawal this year.
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BUSINESS
July 29, 2006 | From the Associated Press
Wal-Mart Stores Inc. said Friday that it planned to sell its 85 stores in Germany to rival Metro, a move that effectively ends a nearly decade-long effort by the world's largest retailer to crack the market in Europe's biggest national economy. Terms were not disclosed, but Wal-Mart said it expected to incur a loss before taxes of about $1 billion related to the deal in its second quarter. It would be the Bentonville, Ark.-based company's second international withdrawal this year.
NEWS
June 22, 1996 | From Times Wire Services
Germans can shop into the night and buy fresh bread on Sundays under a law approved in Germany's Parliament that eases some of the most restrictive shopping hours in Europe. The law takes effect Nov. 1, but it could be delayed or derailed outright by trade unions and other opponents who say it's anti-family and could put some stores out of business. The legislation allows stores to stay open until 8 p.m. on weekdays and 4 p.m. on Saturdays.
BUSINESS
September 28, 1993 | From Times Staff and Wire Reports
Grand Met Plans Job Cuts: London-based Grand Metropolitan said it will eliminate 3,000 jobs, most of them at its Green Giant vegetable business and Pearle optical stores. The international conglomerate owns Burger King, Pillsbury and Haagen-Dazs. Pillsbury said it will close three Green Giant plants in Canada and one in Watsonville, Calif., in the next 18 months. The company will also end vegetable processing at a plant in Wellston, Ohio, and devote the plant to making frozen pizzas.
BUSINESS
July 10, 1990 | CRISTINA LEE, TIMES STAFF WRITER
Kaiser International Inc., the master franchiser of American Speedy Printing Centers in California, announced Monday that it has purchased European franchising rights from the Michigan quick-printing company and will invest at least $6 million to start a chain of copy shops in Europe. The European deal is part of Kaiser's aggressive overseas expansion strategy. Two months ago, the Anaheim-based firm signed a 50-year joint venture pact with Canon Sales Inc. and Mauzen Co. Ltd.
BUSINESS
June 5, 1997 | From Bloomberg News
Staples Inc. said fiscal second-quarter sales at stores open at least a year are expected to be slightly higher than in the first quarter, in part because of higher paper prices. The price of paper this quarter was about 15% to 20% lower than in the same period a year ago. Paper prices during the first quarter ended May 3, though, were about 30% lower, said John Mahoney, Staples chief financial officer and executive vice president, at a PaineWebber conference in New York. The No. 2 U.S.
CALIFORNIA | LOCAL
July 21, 2001 | From Associated Press
Beate Uhse, the grande dame of Germany's erotica industry who built a corporate sex empire and became one of the country's most recognized names, has died at age 81. Uhse died from pneumonia at a hospital in Switzerland, her company said Wednesday without specifying the date of her death. She was chairwoman of Beate Uhse AG, having gone from selling contraceptive pamphlets after World War II to creating a nationwide chain of sex stores.
NEWS
December 22, 2000 | CAROL J. WILLIAMS, TIMES STAFF WRITER
Chancellor Gerhard Schroeder and his government sought Thursday to calm the near hysteria sweeping this country over an outbreak of "mad cow" disease that has cast suspicions on Germans' beloved sausage and caused a pre-holiday run on poultry and fish.
BUSINESS
December 18, 1991 | From Associated Press
Although many American merchants are worrying about slow Christmas business, glittering department stores in Germany are jammed with shoppers. The reunited country is still grappling with unemployment and other economic problems, as it jolts former East Germany out of the communist past into a capitalist future. But that hasn't dampened the holiday-buying frenzy in this country of nearly 80 million people.
BUSINESS
August 18, 1992 | From Reuters
Kmart Corp., the world's second-biggest retailer, said Monday that its second-quarter earnings rose just 2.9% because of cautious consumer spending and cool weather, while Toys R Us Inc. reported a profit surge because of strong demand for basic toys. Troy, Mich.-based Kmart reported net income of $168 million for the second quarter ended July 29, up from $163 million a year earlier. Earnings slipped to 37 cents a share from 40 cents because of a 2-for-1 stock split announced in March.
BUSINESS
May 12, 1999 | From Bloomberg
Wal-Mart Stores Inc. posted a 34% jump in profit for the fiscal first quarter to $1.11 billion, or 25 cents a share, as the world's largest retailer continued to distance itself from the rest of the industry. The discount retailer's results topped forecasts for the sixth quarter in a row, beating by 3 cents the average estimate of analysts polled by First Call Corp. Sales rose 16% to $34.7 billion, led by demand for grocery items at its U.S. stores.
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