German retail and tourism firm Arcandor, which
includes the Primondo catalogue division, announced
details of a restructuring proposal that will cost some 900
million euro over the next five years reports Reuters. In an earlier article, Reuters
refers to a piece in German newspaper Bild am Sonntag which
quoted chief executive Karl-Gerhard Eick as saying “[Arcandor
is] earning less money than it spends and business as usual is
an untenable proposition”.
Fixings cataloguer Ironmongery Direct revealed that
turnover increased 40 per cent in the first quarter 2009 compared
with the same period last year. The business is now on track to
reach turnover of £10 million in 2009.
Today’s edition of the The Times contends that social networks
such as Facebook, Twitter and LinkedIn give “brands
information that advertising agencies can only dream