News roundup—24th July 2008

News roundup—24th July 2008

Argos distribution workers have called off the one-day
strike scheduled for tomorrow. According to union Unite, Argos management
have offered workers a raise in excess of the previously
offered 4 per cent. Union members, who staged a one-day strike
last week, will vote on the offer next week.

Like-for-like second-quarter sales within PPR’s
Redcats unit fell 3.9 per cent. PPR, which also owns a
stable of luxury brands including Gucci, Yves Saint Laurent and
Bottega Veneta, did not break out sales for its UK
division, which includes the La Redoute and Daxon
catalogues.’s second-quarter sales outside of North
America soared 34 per cent, excluding currency changes, to $1.9
billion (£956 million). Sales outside of North America now
account for 47 per cent of the web merchant’s total revenue, up
from 45 per cent last year.


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