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Europe continues to weigh down H&M as Q3 misses forecasts Thursday, 27th September 2012
Dour consumer sentiment, bad weather and negative effects of currency translations left H&M with a marginal improvement in net profit for its third quarter. The world’s second largest retailer saw net profit rise just 0.8 per cent to SEK 3.62 billion in the three months to 31 August, missing analyst expectations of SEK 3.94 billion.
JJB Sports encouraged by talks Friday, 14th September 2012
Struggling JJB Sports is reportedly involved in talks with several interested parties after putting itself up for sale last month. JJB has confirmed it is holding talks with “a number” of potential suitors, thought to include private investment firm OpCapita and French sporting goods retailer Decathlon.
Interest mounts for troubled JJB Sports Monday, 10th September 2012
More than ten parties are thought to have registered their interest in JJB Sports, which put itself up for sale in August after failing to secure the funds needed to turn its business around. The sports retailer is expected to give an update on progress this week after French chain Decathlon, Better Capital and JJB founder David Whelan were all said to have requested information on the sale of the company.
Limited Brands sees sales rise 8% for August Thursday, 30th August 2012
Limited Brands Inc., the owner of Victoria’s Secret, La Senza and Henri Bendal, said comparable store sales rose 8 per cent in the four weeks to 25 August, compared with the month before. However, the parent company also reported net sales of USD 665.5 million for the period, a drop from net sales of USD 702.4 million for the same time last year.
JJB Sports up for sale Thursday, 30th August 2012
The struggling sports retailer on Thursday announced it would not be able to fund a much-needed turnaround, and that it has put itself up for sale. In a statement that warned investors that their shares could now be worthless, JJB said that it would begin a formal sales process.
Jack Wills for sale? Retailer’s new appointment sets the rumour mill in a spin Wednesday, 29th August 2012
Self-dubbed ‘university outfitters’ Jack Wills has left speculation rife over a possible sale or floatation after the clothing retailer announced a new chief operating officer. Former Vodafone and Carphone Warehouse executive Wendy Becker will join the apparel group as chief operating officer, in a move many see to suggest the group is preparing to sell a stake or preparing to float the business next year.
Fifty Shades of Grey becomes UK’s best-selling book of all time Wednesday, 8th August 2012
Forget Chaucer, Shakespeare or even Rowling. Despite churning out a wealth of world-renowned writers, none can come close to success of EL James’s Fifty Shades of Grey, which this week became the best-selling book of all time in the UK with 5.3 million copies sold. Panned by critics, EL James’s publisher Random House has revealed the book is now more popular than The Highway Code, with 3.8 million physical books sold and 1.5 million ebooks.
Anya Hindmarch sells 38% stake to Qatari fund Monday, 6th August 2012
Anya Hindmarch’s eponymous accessories brand has sold a minority stake to a Qatari investor group, in a deal that values the company’s equity at £70 million. According to a Financial Times report over the weekend, the luxury British handbag retailer said the new investor would “accelerate” the company’s growth.
PPR and Yoox announce ecommerce joint venture Saturday, 4th August 2012
Balenciaga's new boutique on Paris' rue Saint-Honoré. French luxury and retail group PPR on Friday revealed it had set up a joint venture with Italian online fashion retailer Yoox as it looks to expand its ecommerce operations. The new partnership will be 51 per cent owned by PPR and 49 per cent by Yoox, selling the French conglomerate’s high-end luxury brands through a global digital platform.
Dr Martens could fetch £200m in Russian billionaire-buyout Monday, 2nd July 2012
The iconic British brand is reported to have caught the eye of Russian billionaire Mikhail Fridman. According to the Daily Mail, Fridman could pay up to £200 million for the Dr Martens brand, through Pamplona Capital, an investment fund backed by the Russian businessman.