According to figures quoted in the Sunday
Times, preppy fashion retailer Jack Wills
grew turnover 32 per cent to £121.8 million in the year
ending January 2012. During the year, the company invested
£20 million in store openings. Twenty-nine stores were
opened, including eight on the east coast of America and one in
Hong Kong. The investment in the stores and creating new jobs,
notes the newspaper, took its toll on EBITDA. Earnings fell 26
per cent from £15.9 million in 2010 to £11.8 million.
The Sunday Times interviews Peter Williams, co-founder and chief
executive of Jack Wills. He tells the paper there’s a big push
into America and Asia, finding that “the more British-and
more eccentric-the product, the better”. He also plays down
speculation about a potential float.
Also from the Sunday Times, about 2,000 jobs are expected
to be lost if Sports Direct takes control of
struggling rival JJB. Mike Ashley, founder of
sportswear chain Sports Direct plans to close at least 180
stores, but only after acquiring the business out of pre-pack
administration.
Pharmacy giant Alliance Boots is strengthening
its presence in China by taking a 12 per cent stake in
Nanjing Pharmaceutical. The deal, for
approximately £56 million, will make Alliance Boots the
second largest shareholder in the Chinese pharmaceutical
wholesaler. Alliance Boots first entered the Chinese
pharmaceutical distribution market in 2008 through its Guangzhou
Pharmaceuticals Corporation joint venture.
The Outnet is stepping out of the shadow cast by
its sister site Net a Porter by launching its
own 35-piece collection Iris & Ink, writes the Independent.
The Western Morning News profiles former
Oliver Sweeney creative director Roland Haynes
and his footwear for preschoolers brand
Nipperkit. The shoes are currently sold online,
but Haynes told the newspaper he’s planning to open a store. He
also aims to bring the manufacturing operations from China to the
UK.
Share