Newspaper retail round-up
A roundup of the retail stories from the newspapers this week… Peacocks, All Saints, Foyles, JJB Sports, New Look, Waitrose, Phones4U, Zara, River Island.
The Times:
Peacocks to sell Bonmarche
The discount fashion chain is considering a possible sale of fashion chain Bonmarche. Peacocks bought the business from the Chima brothers in 2002 for more that £50m.
All Saints approached by private equity firms
The high street fashion chain has received three approaches from private equity groups as it seeks an injection of up to £50m.
Foyles buys Grant & Cutler
Foyles has bought Grant & Cutler, Britain’s largest foreign language bookshop, in the latest chapter of its expansion. Grant & Cutler will move from great Marlborough Street to Foyle’s Charing Cross flagship store.
The Financial Times:
JJB Sports avoids administration
More than 96% of the struggling retailer’s landlords vote through controversial plans to close 89 stores and cut rents, allowing an extension to its £25m banking facility.
Amazon opens app store for Android devices
The virtual store dedicated to distributing applications for Android-based mobile phones and tablets provides a potentially large boost to the operating system.
New Look chief resigns
Tom Singh, founder and majority shareholder of the fashion retailer, returns after both the chairman and chief executive resign with immediate effect following rocky trading.
The Guardian:
Waitrose customers desert new website
Angry shoppers besiege online forum with criticism of supermarket’s website, which was launched a fortnight ago at a cost of £10m.
Consumer confidence at record low
Consumer confidence deteriorated sharply during February as price rises put pressure on people’s disposable income and the economic recovery remained ’sluggish’, research indicates.
Phones4u sold in £700m private equity deal
The chain of more than 500 stores was sold by Providence Equity Partners in a secondary buyout worth between £600m and £700m.
The Telegraph:
Zara owner Inditex sees profits soar by a third
Spain’s Inditex, the world’s largest fashion retailer and owner of the high street Zara chain, announced bumper profits on Wednesday and revealed plans to broaden expansion online and across Asia.
Top chains are urged to ban sandblasted jeans
Asda, Diesel, Matalan and Primark are among a group of companies being criticised for selling jeans made using sandblasting, which can cause illness or even death.
Why River Island is bringing back Chelsea Girl
River Island chief Ben Lewis gives his first interview on why the chain is bringing back the Chelsea Girl brand.
