Tesco plans overseas franchises
Tesco is planning to open up a chain of franchise stores overseas after a trial in South Korea. The initiative is being led by head of international Phil Clarke, who is due to step up to the chief executive role next year.
West End retailers outperform UK
Retailers in London’s West End have reported that sales in August increased 9.4% year-on-year compared to 1% growth for the UK as a whole, according to retail tracker Springboard.
From The Daily Telegraph
Phones 4 U up for sale?
Phones4u owner Providence Equity has allegedly received several unsolicited takeover offers and could be put on the auction block. The private equity house bought the chain from John Caudwell in 2006.
From The Sunday Times
Newsagents are readying a last ditch effort to derail a ban on the display of tobacco products. Leading the defence is branch officer for the National Federation of Retail Newsagents who is seeking the support of Cabinet Office minister Francis Maude.
From The Independent on Sunday
Rose signs up for Bridgepoint
Sir Stuart Rose is to join private equity group Bridgepoint as an advisor, wrong-footing speculation he would join the government or another FTSE 100 company.
ABF says Primark set for growth
Primark says it is on track to increase like-for-like sales by 6% this year, boosted by growth in the UK and Spain. The chain makes up a quarter of ABF’s revenues
From the Financial Times