Newspaper retail round up
A round up of retail stories from the past week… DSGi, Kesa, Waitrose, High Street, Ocado, Game, M&S
Republic sold to TPG
Private equity group TPG has bought high street fashion chain Republic from Change Capital Partners in a £300m deal
DSGi to report profit hike
DSG International, the retail group which owns Dixons, Currys and PCWorld, is expected to report full-year profit of between £80m and £90m on Thursday (24 June), up from £50.5m last year.
Kesa set to reveal return to profit
Kesa, the owner of electricals chain Comet, is expected to report full-year profit of £76m, compared with an £81.8m loss last year.
Debenhams bans airbrushing
Department store chain Debenhams has banned the use of airbrushing in its latest advertising camapaign, opting for models with natural beauty.
From Sunday Telegraph
Waitrose deal with Eat off the table
Waitrose has ended talks to buy sandwich chain Eat. The grocer is said to have been in talks with the chain for several months.
Ocado poised to reveal float
Ocado is poised to announce sharply increased sales and profit when it greenlights a plans for a £1bn stock market float later this week.
From The Sunday Times
Retailers plan for VAT rise
High-street retailers have been preparing for the expected rise in VAT ahead of the chancellor’s Emergency Budget yesterday. Retail lobby groups had urged the government to avoid the increase.
From The Observer
Game issues profit warning
Entertainment retailer Game has issued a profit warning after bid hopes diminished ahead of the launch of the Kinect console and new Nintendo 3DS.
From The Guardian
No M&S successor by July
Marks & Spencer is unlikely to name Sir Stuart Rose’s successor before its general meeting in July.
Youth spending continues
Young consumers have continued spending as other age groups have cut back, despite rising youth unemployment.
From The Financial Times
