The latest retail and consumer industry and company news and analysis from FriedlNews
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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

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

Heta Bad Bank Sells Iconic Holiday Inn Sarajevo Hotel

Bad bank Heta sold the Holiday Inn hotel in Sarajevo to tourism group Europe d.d., the company said. The iconic Holiday Inn Sarajevo was home of foreign correspondents during the 1984 Winter Olympics and throughout the siege of Sarajevo during the Bosnian War. The price was not disclosed.

July 20, 2016

Novomatic Takeover of Australian Rival Delayed

The planned investment of the Lower-Austrian gambling group Novomatic in the Australian rival Ainsworth Game Technology has been delayed. Ainsworth will postpone general assembly scheduled for June 3 by up to 30 days. It is at the meeting that shareholders are supposed to approve the deal.

May 25, 2016

Franz Wolfahrt Stands in Civil-Law Trial Concerning Disputed Payments

In the civil-law trial concerning disputed payments to lobbyists Walter Meischberger and Peter Hochegger, former CEO of gambling company Novomatic, Franz Wolfahrt, once again confirmed that such payments were made in connection with the targeted loosening of gambling law in 2006, although he stressed that adequate services were provided in return.

May 24, 2016

Bet-at-Home Approves EUR 4.50 Share Dividend for 2015

The shareholder meeting of sport bets operator bet-at-home has approved the EUR 4.50 (USD 5.07)/share dividend for 2015 and a capital hike using the company’s own assets. The number of listed shares will double. The management board announced a special dividend of EUR 10-15 per share for 2016.

May 19, 2016