Flying Brands has announced plans to sell its
bird food division and complete its exit from the entertainment
market. The terms have been agreed, subject to shareholder
approval, to divest the trade and certain assets of
Garden Bird Supplies, Garden Centre
Online and Listen2 businesses to the
Garden and Home Trading Company Ltd, a subsidiary of home
entertainment products distributor MBL Group plc, for
£720,000. For MBL, the acquisition is part of its strategy
to move away from wholesale and towards direct-to-consumer sales,
following the loss of a major customer in April 2011.
Certain intellectual property of Garden Centre Online were sold
to eCommerce services provider Williams Commerce for
£80,000. If the disposals and the sale of the gifts
division–as announced on 21st February–complete, the remaining
businesses at Flying Brands will comprise of the
Gardening Direct business, the Retreat Farm
growing and live despatch businesses and the Retreat Farm
freehold property.
Pretax profit at Laura Ashley declined 2.6
per cent to £18.8 million in the year ended 28th January. In
a trading statement, Laura Ashley said UK retail sales were down
0.6 per cent to £255 million. Ecommerce and mail order sales
grew 4.9 per cent during the year and eCommerce now accounts for
12.3 per cent of total group sales. Laura Ashley now delivers its
full product range to Germany, Austria, Italy and Switzerland, in
addition to the UK. As a further step in the expansion of its
brand strategy, the company announced plans to open a boutique
hotel in Hertfordshire. It purchased the building for £5.8
million in November and plans to refurbish it to showcase its
range of home accessories and furniture.
eBay Inc is promoting David Marcus to president
of PayPal, effective 2nd April. Currently, vice president of
mobile for PayPal, Marcus has led the growth in mobile payments
volume and the development of a comprehensive mobile payments
service. Reporting to eBay president and chief executive John
Donahoe, Marcus succeeds Scott Thompson, who left the company in
January.
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