Boots profit hits £1bn
Boots is strengthening its strategic development team as it looks for acquisition opportunities and develops new store formats.
From The Telegraph
Peacocks for sale
The owners of discount fashion chain Peacocks are poised to put the chain up for sale.
From The Times
Sir Victor Blank contender for M&S chairman role
Sir Victor Blank, ex-Lloyds chairman, has emerged as a frontrunner to succeed Sir Stuart Rose as chairman of Marks & Spencer.
From The Independent
Retailers say VAT rise is certain
Retailer bosses at chains including Carpetright believe a rise in VAT from 17.5% to 20% is a certainty and may be put in place by September.
From The Mail
US consumers still looking for value
US Consumers are spending more on clothes and accessories but shoppers are still looking for value for money, say US department store chains Macy’s, Kohl’s and JC Penney.
House of Fraser director resigns
Icelandic investor Jón Ásgeir Jóhannesson has stepped down as director of House of Fraser. He was recently hit with a $2bn fraud lawsuit.
DSGi shrugs off threat from Best Buy
DSGi the owner of Currys and PC World has shrugged off claims that competition from US chain Best Buy will affect figures and says full year profit will be in line with expectations. The chain is hoping for a World Cup inspired sales boost.
Sainsbury’s CEO warns against VAT rise
Sainsbury’s chief executive Justin King warned the Con-Lib coalition government against increasing VAT in the supermarket’s end of year trading statement.
From The Financial Times
M&S criticised for bra aimed at children
Marks & Spencer has come under fire for marketing a crop top for young girls as “a great way of getting girls used to the idea of wearing bras” following consumer and government outrage that retailers are sexualizing children.
From The Guardian