Briefs

Castorama acquires Alma Market's Kraków real estate

Alma Market (formerly KrakChemia), the operator of Alma supermarkets and DIY stores signed a pre-agreement to sell its Kraków based plot (34,000 sqm) with existing buildings to Castorama. Profits from the transaction (PLN 31 mln plus VAT) is to be invested in the development of the company's core activity which is the retail of FMCG.

H&M lifts USA

The Swedish fashion chain H&M earned over USD 350 mln before tax in the second quarter of this year. This result is 6 pct. better than in the first quarter. H&M's management said that higher sales in the USA were behind the good results.

Jeans Club considers Reduta a good fit

Hungary's largest youth fashion retailer, Jeans Club, and Diverse which serves the same market, have taken 759 sqm and 210 sqm respectively in the Reduta shopping centre. After undergoing a 39,000 sqm enlargement which is scheduled to be completed in October the mall will boast 110,000 sqm. Reduta's owner is the Danish firm Foras Holding, and it is managed by Foras Management Poland.

Poland - a nation of shopkeepers?

According to a report published by Cushman & Wakefield H&B which ranks shopping centre development in Europe, Poland is now in the leading group of countries in terms of retail space on the market. This should increase by 39 pct during the period 2004-2005 which gives us fifth place in this category's rankings (the Russians ahead of the pack with a 139 pct increase in shopping space). In actual area this translates into an extra 1,35 mln sqm for the period, and bronze medal behind Spain and Italy. With 3.5 mln sqm of retail space in total Poland is in 7th place behind the British, French, Germans, Spanish, Italians and Dutch.