Newspaper retail round-up

A round-up of retail stories in the news this week… Prada, Oddbins, All Saints, Mothercare, Walmart, Best Buy

The Times:

Prada profits soar

Profit at luxury fashion house Prada soared 150% to €251m (£221m) boosting the likelihood of its floatation on the stock market later this year.

Oddbins on the brink of administration

Oddbins, the wine retailer, may go into administration to facilitate a company voluntary arrangement that would protect it from claims by its creditors.

The Financial Times:

All Saints takeover talks fall through

Talks over a bid that would have seen the UK retailer taken over by a consortium including a Lebanese investment fund backed by the country’s prime minister designate break down.

Mothercare warns of falling margins

The baby goods chain is the latest UK retailer to highlight the tough trading conditions on the high street, after warning that yearly margins would miss expectations.

Blue Inc buys 46 Officers Club stores

Fast-growing fashion retailer Blue Inc buys 46 Officers Club stores out of administration, in a deal thought to be worth about £5m.

The Guardian:

Pret A Manger boosted by porridge sales

Pret A Manger reported a 37% profit increase, partly on the back of an increased demand for a humble breakfast cereal. It sold 50,000 bowls of porridge a week.

Walmart in court over sexism claims

Walmart is arguing in front of the US Supreme Court that it should not face a class action lawsuit that would permit more than a million former and current female employees to sue the retailer over sex discrimination.

Best Buy plans to open five super stores this year

Best Buy plans to open five further stores in the UK this year including stores in Hayes, Middlesex and Bristol’s Cribbs Causeway centre.

Mango staff to get taste of John Lewis-inspired perks

Spanish fashion chain sees share ownership as best way to boost morale during rapid growth and economic uncertainty.

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