LDC, the private equity arm of Lloyds, has bought a 20 percent
stake in outdoor retailer Mountain Warehouse.
The deal will see Mountain Warehouse accelerate its retail
portfolio from 110 stores to more than 200 by 2014. For the year
to 28th February, Mountain Warehouse saw pretax profits rise 38
percent to £7.67 million, according to an article in the
Independent. The deal values Mountain
Warehouse at more than £50 million.
DSG international, the electrical retailer and
parent company of Dixons,
Currys and PC World, reports
that total group sales for the 12 weeks ended 24th July 2010 rose
3 percent, and like-for-likes were also up 3 percent. As
expected, DSG attributed the rise to strong sales of TVs in the
lead up to the football World Cup as well as exclusivity of the
Apple iPad. Total online sales were up 12 percent during the
period, driven by multichannel ordering and the Reserve & Collect
service.
Freemans Grattan Holdings is in a “profit
situation” confirmed chief executive Koert Tulleners. In a
statement about the company’s losses for the year 2009-10,
Tulleners told Catalogue e-business “we are not
dwelling on the past”. He added that the business will now
concentrate on growth in 2011 and beyond and that it has
“many new propositions in the pipeline”.
From 1st March next year, the Advertising Standards Authority’s
remit will extend to social media. This will mean that companies
using social networking sites like Twitter and Facebook will be
subject to the same rules relating to misleading advertising,
social responsibility and the protection of children as
advertisers in other media. The ASA will have the ability to
demand the removal of paid-for ads as well as the ability to
place its own online ads highlighting an advertiser’s continued
noncompliance.
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