News roundup—21st January 2009

News roundup—21st January 2009

Flying Brands, the multititle mailer operating
Gardening Direct, Flying Flowers and audiobook
catalogue Listen2, expects to see its profits shrink by
£0.5 million, to approximately £1.4 million for
fiscal 2008. Like-for-like sales for the last quarter of 2008,
excluding those attributable to the discontinued Greetings
Direct business, were flat compared with those for the last
quarter of the previous year, said a company statement. The
group singled out the performance of Flying Flowers, which saw
a marginal sales rise of 0.6 per cent against the comparable
period. The company’s other brands were collectively 1.2
per cent down.

Argos has bought the Chad Valley toy brand from
Woolworths. According to the Independent, Woolworths’ administrators are
still trying to sell the Woolworths brand itself and its
Ladybird childrenswear label.

Sportswear retailer JJB has suspended its chief
executive Chris Ronnie pending an investigation into his failure
to disclose that he had lost control of a 27.5 per cent stake in
the company, reports The Times.


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