Newspaper retail round up

A roundup of this week’s retail news… Foyles, Tommy Hilfiger, Oddbins, Sainsbury’s, Fat Face, Liberty, Moss Bros

Foyles maintains customer loyalty despite full-price strategy

Foyles bookshop is thriving due to its full-price policy, whilst its rivals, Waterstones and Borders, suffer losses from selling at discounted rates.

Tommy Hilfiger in a £2bn takeover deal by Calvin Klein owner

American clothing brand Tommy Hilfiger is to be taken over by New York-based fashion group Phillips Van-Heusen (PVH), which also owns Calvin Klein.

From The Guardian

Oddbins bounces back

Wine retailer Oddbins, is on the road to recovery and the chain has now been taken over by Simon Baile, son of the original owner, Nick Baile.

Sainsbury’s brings bonuses forward to beat 50pc tax rise

Staff at supermarket chain Sainsbury’s will have their bonuses brought forward by three months in order to beat the introduction of the new 50pc tax rate.

Fat Face suffer £225m losses on write-offs

Clothing brand Fat Face has lost £225m after conceding that its value has more than halved since it was bought by private equity firm Bridgepoint, forcing the retailer to write-off hundreds of millions of pounds worth of goodwill.

From The Daily Telegraph

Liberty plans sale and leaseback of London store

Liberty has sold its London department store to the former boss of Merrill Lynch’s private equity division, Marco Capello. The department store will lease back the property.

Moss Bros chairman quits

Moss Bros chairman David Adams has left the men’s clothing and hire wear company after joining two years ago.

From The Times

Halfords quits Hobbycraft chase

The race to buy arts and craft retailer HobbyCraft is dominated by private equity groups as Halfords bows out.

From The Financial Times

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