“N Brown H1 profit tops forecast” read the Reuters headline this morning. The home shopping company, which operates JD Williams, Simply Be and menswear catalogue Jacamo, delivered profit before tax and one off items of £40.8 million in the 26 weeks to August 30, “above an average forecast of £37.6 million in a company poll of five analysts”.
Online auction site eBay is making laying off 10 per cent of its workforce-affecting 1000 employees. The Financial Times quotes eBay’s chief executive John Donahoe as stating that the job losses are part of an attempt to “streamline” eBay and make it more “nimble”. The company also announced yesterday that it was making two acquisitions totalling $1.3 billion (Approx £742 million). These include the purchase of credit company Bill Me Later and Denmark’s leading classified advertising site, dba.dk, and vehicles site, bilbasen.dk.
An enterprising school in Darwen, Lancashire has set up an online shop to help raise money for a new minibus. The shop works as an affiliate portal through the Buy.at network providing access to high street names such as John Lewis, Next and HMV, reports the Lancashire Telegraph.
According to The Guardian, consumer magazine publisher Bauer will launch a “high-end eCommerce fashion website this month in an attempt to take on sites such as ASOS.com”. Bauer will launch Cocosa, its first eCommerce site, to build on the reputation of its fashion titles Grazia, Pop and Arena Homme+.