News roundup—postal strikes cancelled, Otto buys Quelle Russia, more

News roundup—postal strikes cancelled, Otto buys Quelle Russia, more

The Communication Workers Union has agreed not to conduct any
more Royal Mail strikes until at least the end of the year, in
what The Telegraph terms
“an 11th-hour ceasefire”. The all-out work
stoppages scheduled for today and Monday have been cancelled.
Talks between the parties will continue during the next two
months, overseen by an independent arbiter.

TM Lewin chief executive Geoff Quinn is
The Times’
“Business big shot” of the day. The shirtmaker
reported a 23 per cent rise in annual sales, to £78 million
for the year ended February. Sales for the subsequent six
months rose 11 per cent from the first half of last year, while
EBITDA increased 13 per cent. The cataloguer/retailer has
entered a franchise agreement to open stores in Singapore,
Malaysia, and Indonesia and will open womenswear-only stores
here in the UK.

Otto Group is adding to its Russian holdings
with its acquisition of Quelle Russia from
insolvent German cataloguer/retailer Arcandor.
Otto is also purchasing the rights to the Quelle brand and
related brands for Germany and other Central and Eastern
European countries. The parent company of Freemans
Grattan Holdings, Otto has been in the Russian market
since 1990.

What do you get the Scientologist who has everything? A gift
from the Dianetics and Scientology Catalog, of
course. The Jezebel blog has scans of
the catalogue.


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