We’re getting conflicting information about Freemans
Grattan Holdings.
Drapers reported earlier this week that the UK arm of the
Otto group had returned to profit, but the Express claims the company “suffered
widening losses for the year to the end of February”.
According to the Express, Freemans recorded a
£49.7 million pretax loss this year, compared with
£37.1 million in 2008-09. Sister company
Grattan fared even worse–pretax losses more
than doubled to £76.3 million.
Fashion retailer Zara is scheduled to launch its
UK online shop tomorrow and Reuters estimates that its ecommerce sales
could add 10 percent to the company’s profits.
Amazon is planning to take on
Netflix by launching a subscription web TV
service. Reuters‘ sources say that the online behemoth
has approached media companies including Time Warner, CBS Corp
and Viacom.
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