Asda was mulling a bid for catalogue group
N Brown, writes the Telegraph. It is understood that the
Walmart-owned supermarket considered making a £1 billion
takeover bid of the plus-size apparel specialist. The newspaper
reports that executives from N Brown “held several
conversations” and a meeting with Asda, “but since
then N Brown and Asda’s American owners have dropped the takeover
plan”.
Although sales of consumer electronics improved in the period,
Argos says it wasn’t enough to completely offset
declines in the TV, audio and video gaming categories. The
retailer recorded a like-for-like sales decline of 0.2 per cent to
£819 million in the first quarter. In the 13 weeks to 2nd
June, sister company Homebase saw sales decline
8.1 per cent to £421 million. It blamed the poor weather
conditions for slow sales of seasonal merchandise.
Claire Harper, formerly marketing director at Mamas &
Papas, and Lee Williams, who has held finance roles at
Comet, Woolworths and
Tesco, have launched an online store selling
childrenswear. The new site, IndiaCoco, is named
after the couple’s two daughters and stocks brands including
Ilovegorgeous and Frugi. The
founders say they have ambitious plans for growth, with both an
online and offline presence planned for the business. Initially
launching online, the first IndiaCoco store will open during 2013
and roll out across the UK in “community-based”
locations.
Andy Hornby, the former chief executive of Alliance
Boots, has joined online chemist
Pharmacy2U as nonexecutive chairman writes the
Guardian.
Fun fact about Angus Thirlwell of Hotel
Chocolat-he gets mistaken for Sting. The Financial Mail has more on his recipe for
success.
The Telegraph interviews Steve Lewis, chief
executive of Majestic Wines, which yesterday
toasted a profits growth of 14.5 per cent.
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