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Austrian Retail and Consumer Headlines

Wolford Cuts Annual Outlook on Weak Q1 Developments

Listed lingerie producer Wolford may see a "low single-digit” operating loss this year, the company said in a downward revision of the annual guidance, due to the weakening demand. In the whole 2016/17, revenues will likely stagnate or decline slightly, the management expects.

August 31, 2016

Cartel Court Prohibits Novomatic Gambling's Takeover of Casinos Austria

Gambling group Novomatic saw its plans to take over listed casinos operator Casinos Austria crossed by the decision of the cartel court. The court prohibited the planned merger which it believes would limit competition, Novomatic said in a press statement.

August 30, 2016

Spar Retailer Eyeing at least EUR 70 Mln Revenues from Zielpunkt Stores

The takeover of 28 stores of bankrupt rival Zielpunkt should add at least EUR 70 million (USD 78.2 million) to retail giant Spar top line, Spar CEO Hans Reisch told journalists.

August 30, 2016

Dunkin’ Donuts Struggling in Austria

US bakery and coffee shop chain Dunkin’ Donuts wants to continue operation in Austria. The creditors of the insolvent firm agreed to a reorganization plan.

August 24, 2016

Write-Offs Drag Down Novomatic’s Profits in H1

The Lower-Austrian gambling group Novomatic, which is planning to take control over the partially state-owned Casinos Austria, raised its sales again in the first half of the year. However, on the operating level the company earned less due to non-planned write-offs.

August 24, 2016

Do & Co Holds on to Plans in Turkey

The political turmoil in Turkey is apparently no obstacle for the businesses of the Austrian catering company DO&CO;. The company will, as planned, continue "its activities in Turkey and has expressed commitment to its long-term projects”. The renewal of the contract with Turkish Airlines is currently subject to negotiations.

August 23, 2016

Salzburger Festspiele Generates EUR 215 Million Added Value per Year

The president of the Salzburg Festival (Salzburger Festspiele), Helga Rabl-Stadler, presented a new study proving the financial significance of the event. According to the study the festival generates added value of EUR 215 million per year in the whole country.

August 22, 2016

Austrian Hospitality Group Launches Joint-Venture with Iran

Austrian hospitality group DoN will provide catering for Iran's rail customers under a joint venture DoNA launched with a private Iranian entrepreneur Mohammad Khalaffi, Don's spokesman told APA.

August 22, 2016

Hotel Group Valamar to Build another Two Resorts on Istria

Croatian hotel group Valamar, in which the Vienna-based investment company EPIC holds a 43-percent stake, will invest HRK500 million (almost EUR 67 million) in the expansion of two luxury resorts on Istria. In the autumn the modernization of three existing facilities in Rabac in the Kvarner bay will be launched. They will be opened in the next tourist season in 2017.

August 22, 2016

Novomatic Takes Over Lotterien Arm in Albania

After several lossmaking years Austria’s lottery operator Österreichischen Lotterien is backing out of the Albanian market, selling its local subsidiary to competitor Novomatic, WirtschaftsBlatt daily reports. Incidentally Novomatic is currently also busy with the takeover of Casinos Austria, i.e. the parent company of Lotterien.

July 29, 2016