News roundup—18th March 2009

News roundup—18th March 2009

Admitting it did not know when it could make a return to
profitability, apparel retailer French Connection today
posted an annual loss of £17.4 million. On the bright side
though, the company said its ladieswear ranges showed positive
growth and that its Toast mail order business was
developing well with sales up 15 per cent this year.

Sailing gear manufacturer Musto is poised to launch a
transactional version of its website. The news has angered its
resellers, who speaking to Boating Business, said they were
“very disappointed to have our supplier selling against
us”. To appease its retailers, Musto will actively
promote them via the website. Musto’s chief executive Andy
Towne has also vowed to “invest” in the company’s
retail partnerships, which includes improving stock
availability, working with the retailers to help grow their
businesses and promising not to discount product on the Musto

Peter Jackson, chairman at Kingfisher, the parent
company of DIY retailers B&Q and Screwfix will
retire after the group’s annual general meeting on 3rd June. His
successor is Daniel Bernard, currently deputy chairman.


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