Dixons is increasing its stake in online
retailer Pixmania. The electricals retailer
announced it was buying the 22 per cent interest in Pixmania
currently held by its founders Steve and Jean-Emile Rosenblum for
€10 million (approximately £8 million). Dixons already
holds a 77 per cent stake in the business. Dixons says the
acquisition will enable it to take full control of the business
and tackle the “significant challenges” it faces.
Pixmania reported turnover of £665 million for the 12 months
ended 28th April 2012 and an underlying operating loss of
£20 million.
Pretax profit at stamps and collectibles marketer Stanley
Gibbons was up 8 per cent to £1.8 million in the six
months ended 30th June thanks to improved gross margins, which
generated profit growth from a lower level of sales to the prior
period. The company also revealed that following the
redevelopment of its websites last year, online revenues were
almost double that of the previous period. During the second half
of the year, Stanley Gibbons says its focus on further developing
its online opportunities among other initiatives.
Marks & Spencer is introducing contactless
payments at 25 of its London stores. The partnership with
Streamline and Visa Europe enables consumers to touch a payment
terminal’s reader with their cards and pay for items costing less
than £20. Food retailers currently dominate the contactless
market with McDonald’s, Subway, Nandos, Eat, Cafe Nero,
Pret A Manger, West Cornwall Pasty, and selected
Costa Coffee outlets all supporting the
technology.
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