Newspaper retail round up
A roundup of retail stories in the papers from the past week… Waitrose, Tesco, Agent Provocateur, Ocado, Best Buy, Boots, Selfridges.
Waitrose to buy Eat
Waitrose is in talks to buy the Eat sandwich and coffee chain as part of its expansion plans. It is thought Waitrose will open Eat outlets in its stores and sell Waitrose food in the cafés.
Agent Provocateur to double stores
Agent Provocateur plans to double in size to almost 100 stores in the next three years. New chairwoman Kim Winser says high-class underwear is due a surge in growth following a boom in handbags and shoe sales.
DFS sale called off
The £500m auction of sofa chain DFS has been called off by its founder Lord Kirkham.
Tesco sells solar power
Tesco is to sell solar panels from this week as the government introduces the feed-in tariff (Fit) programme, which pays homeowners and small businesses for generating electricity from solar panels and wind turbines.
From The Times
Ocado boosted by profit predictions
Ocado’s plans for a £1bn stock market flotation have been boosted after a retail analyst firm said the online grocer would be making pre-tax profits within a two-year time frame.
HMV to expand fashion offer
HMV, the music and entertainment chain, plans to move into fashion retail by opening large in-store fashion areas called The Studio in its stores. The retail group has appointed clothing executives from Marks & Spencer, Fat Face and Arcadia to lead the strategy.
Selfridges goes online
Selfridges, the 100-year-old department store, has launched its first e-commerce site making its wares available online.
Faith in possible MBO
High street shoe chain Faith has appointed Grant Thornton to advise on the sale of the 70-strong business, which could end in a management buyout backed by private equity. The store also operates 170 concessions.
From The Telegraph
Best Buy to open by May
Best Buy, has revealed it will open its first UK stores in May, promising to match rival’s prices and offer impartial advice on buying and installing home entertainment systems, computers and mobile phones.
From The Observer
Boots profit to hit £1m
Boots, the privately owned health and beauty chain, has seen profit soar 10% in the current year as own label products helped boost performance. The chain is said to be nearing £1m profit.
From The Mail
