Retail & Consumer

The latest retail and consumer industry and company news and analysis from FriedlNews
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Vienna's Nightclub "Club Couture” is Insolvent

Vienna-based nightclub "Club Couture”, the successor of "Nachtschicht” in the 22nd distict is insolvent. This was reported by the credit protection association 1870 (KSV) on Thursday. The reason for the bankruptcy is the many year long dispute between the operator and the city over entertainment tax.

Yesterday

Linz Textil has Trouble with Chinese Viscose Spinning Mill

Listed Linz Textil issued a profit warning. Due to an extraordinary writedown need with regard to the Chinese subsidiary the group slumped into the red in 2014. The after-tax loss will probably reach EUR 1.3 million (USD 1.435 million) to EUR 1.5 million. The extraordinary need for writedown at the viscose subsidiary in China amounts to about EUR 2.4 million and affects the area of material assets.

Yesterday

Lidl Wants to Invest Almost EUR 100 Million in Austria this Year

Retail chain operator Lidl will again invest in its chain in Austria this year. The company will spend almost EUR 100 million (USD 110.4 million) on the purpose Lidl announced on Thursday. By 2016 almost all 203 branches are supposed to be modernized.

Yesterday

ITB: Austria Wants to Attract More Asian Tourists

The surge in the number of tourists from the CEE region is no longer as big as it used to be and Russian tourists have also stayed out last year. That is why the tourism industry is looking more and more towards the Far East.

March 4, 2015

Online Pharmacies: Dispatch of OTC Medication in Austria Allowed

As of 25 June 2015 Austrian pharmacies are allowed to sell over-the-counter pharmaceuticals online. The basis for Austrian regulations is the Falsified Medicines Directive, already transposed into Austrian law. In a regulation yet to get an opinion, duties of pharmacies will be determined.

March 3, 2015

Austria Chocolate Market Grows to EUR 176 Million

Last year Austrians ate 21.2 million kilograms of chocolate. The whole market of slab chocolate increased by 3.5 percent to EUR 176 million (USD 200 million).

February 27, 2015

Ski Producer Fischer's Sales Down

Ski producer Fischer with headquarters in Ried im Innkreis recorded lower sales in the financial year 2014/15 (by the end of February). Revenues sank from EUR 181 million (USD 205.9 million) to EUR 160 million. The Russian market collapsed.

February 27, 2015

Federal Financial Court Rules Sparkling Wine Tax Unconstitutional

The Federal Financial Court thinks the tax on sparkling wine reintroduced last year goes against constitutional laws and hence the court recommended to the Constitutional Court (VfGH) to abrogate the tax, Standard daily reports in its Wednesday issue.

February 25, 2015

Austrian Post Reports Raising Profit and Stable Revenue for 2014

According to preliminary figures Austrian listed postal service company Post AG generated an operating profit (EBIT) of EUR 197 million (USD 222.67 million), up 5.9 percent y/y, whereas revenue edged up imperceptibly, by 0.2 percent y/y, to EUR 2.371 billion.

February 25, 2015

Vienna to Have Two Million Inhabitants in 2029

Vienna is already the city with the second largest population in the German-speaking countries. But Vienna is growing faster than ever. This development entails a tremendous challenge for Vienna. Based on the figures now available, investments totalling seven billion euros will have to be made by the year 2020 in the areas of child care, public transport, other infrastructure facilities and health services alone.

February 20, 2015