Newspaper retail round up

A roundup of the retail stories from this week… Morrisons, New Look, Adams, George, Fat Face,

Morrisons board meets to mull new chief exec

The board of supermarket chain Morrisons met over the weekend to decide on its new chief executive. The group will choose between Richard Pennycook, its highly regarded finance director, and two candidates from European retailers.

UK attracts foreign retailers

Britain is becoming increasingly attractive to foreign retail groups as the value of the pound falls and high street rent falls.

George boss joins Fat Face

Anthony Thompson is to join Fat Face fuelling speculation that the surfer fashion retailer is gearing up for a float

Cash for gold firms face watchdog

The Office of Fair Trading has asked sellers to shed light on their experience of cash for gold companies after Which? exposed low prices.

Office puts best foot forward

Office, the chain of shoe shops owned by Sir Tom Hunter, is expected to report a 70% profit rise at the end of this month.

From The Times

Online retail sales at record high

British shoppers spent £5.46bn during the Christmas trading period as the cold weather and improved online offers encouraged online shoppers.

Target looks outside of US

US discount retailer Target says it will look at expanding into Canada, Mexico or South America in the next five years – its first venture outside the US.

New Look mulls options

Fashion retailer New Look’s board is expected to meet this week to consider the chain’s options including, a possible £1.8b listing or sale. Ex-Tesco John Gildersleeve took up the post of chairman at New Look last week.

From The Financial Times

Adams back in administration

Childrenswear chain Adams has fallen back into administration for the third time in three years. A buyer is being sought for the company to keep it running as a going concern.

From The Guardian




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