Private equity house Carlyle Group is said to be interested in
taking the majority stake in “snacks-by-post” firm
Graze. A deal is rumoured to be worth some
£50 million, reports the Telegraph.
White Stuff experienced its “most
difficult year” in the 52 week period to 28th April 2012.
According to the Telegraph, sales were down 11.4 per cent to
£89.3 million, while pretax losses hit £67
million.
More details have emerged on the Anya Hindmarch
deal. As reported
on 6th August a Qatari investor has bought a share in the
business. The Telegraph sheds more light on the buyer,
revealing her identity as Sheikha Mozah, the wife of the Emir of
Qatar. Funds linked to Mozah purchased a £27 million stake
in the luxury handbag and accessories manufacturer, valuing the
business at £70 million.
The Sunday Times speculates that
Whistles is preparing itself for a sale after
documents filed at Companies House show that Jane Shepherdson and
the Whistles management team have reduced the majority stake held
by Icelandic bank Glitnir to less than 10 per cent. The article
also notes that Whistles moved into the black last year,
declaring a £1 million profit on sales of £38
million.
The Sunday Times also has a piece on
Square, the mobile payments service that allows
customers to pay for goods simply by saying their name. Titled
“No cash, no cards: the world’s easiest payment
system”, the newspaper describes how users that are
Square-registered can walk into a participating shop, restaurant
or cafe, where their name and photograph appear automatically on
the retailer’s iPad. To confirm the transaction, the retailer
simply verifies that the person making the purchase is the same
as in the photo. Square was launched two years ago by Twitter
cofounder Jack Dorsey. Last week Starbucks
signed up to accept payments by Square.
British consumers spent £6.5 billion online last month,
significantly up on last July’s £5.8 billion. According to
IMRG estimates, sales were up 17 percent in July 2012, the
highest year-on-year growth this year. A mix of sunshine and
showers in July helped a variety of sectors, with apparel
retailers benefitting from brief sunny spells as well as sales
from new autumn ranges, while electricals retailers enjoyed a
sales boost thanks to the wet weather and the need for indoor
entertainment. The sector was also helped by Brits heading online
to buy high-definition televisions and other electrical devices
to enjoy the Olympics from home.
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